Headlands Technologies LLC Buys Shares of 7,825 Zebra Technologies Corporation (NASDAQ:ZBRA)

Key Points

• Headlands Technologies LLC has acquired a new stake in Zebra Technologies by purchasing 7,825 shares valued at approximately $2.2 million.
• Zebra Technologies reported earnings per share of $3.61 for the last quarter, surpassing estimates and reflecting a 6.2% year-over-year revenue growth.
• The board of Zebra Technologies approved a $250 million share repurchase plan, indicating confidence in the company's valuation.

Headlands Technologies LLC bought a new stake in Zebra Technologies Corporation (NASDAQ:ZBRA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,825 shares of the industrial products company's stock, valued at approximately $2,211,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Zebra Technologies by 1.7% in the first quarter. Vanguard Group Inc. now owns 6,365,470 shares of the industrial products company's stock valued at $1,798,627,000 after acquiring an additional 104,940 shares during the last quarter. Invesco Ltd. increased its position in Zebra Technologies by 1.5% during the fourth quarter. Invesco Ltd. now owns 1,422,986 shares of the industrial products company's stock worth $549,586,000 after acquiring an additional 20,992 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Zebra Technologies by 7.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,296,412 shares of the industrial products company's stock worth $500,701,000 after buying an additional 86,766 shares in the last quarter. Victory Capital Management Inc. grew its stake in Zebra Technologies by 27.5% during the first quarter. Victory Capital Management Inc. now owns 1,183,710 shares of the industrial products company's stock worth $334,469,000 after buying an additional 255,193 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Zebra Technologies by 181.1% in the 4th quarter. FMR LLC now owns 775,685 shares of the industrial products company's stock valued at $299,585,000 after purchasing an additional 499,736 shares in the last quarter. Institutional investors and hedge funds own 91.03% of the company's stock.

Zebra Technologies Price Performance

NASDAQ ZBRA opened at $308.31 on Thursday. The company has a 50-day moving average price of $312.03 and a 200-day moving average price of $302.05. The firm has a market capitalization of $15.68 billion, a P/E ratio of 29.11 and a beta of 1.75. Zebra Technologies Corporation has a 52 week low of $205.73 and a 52 week high of $427.76. The company has a quick ratio of 1.02, a current ratio of 1.46 and a debt-to-equity ratio of 0.59.

Zebra Technologies (NASDAQ:ZBRA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $3.61 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.30. Zebra Technologies had a return on equity of 18.95% and a net margin of 10.56%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the company posted $3.18 EPS. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts anticipate that Zebra Technologies Corporation will post 13.71 earnings per share for the current year.

Zebra Technologies declared that its board has approved a share repurchase plan on Tuesday, August 5th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the industrial products company to purchase up to 1.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Barclays raised their price target on shares of Zebra Technologies from $263.00 to $301.00 and gave the company an "equal weight" rating in a research note on Tuesday. Citigroup reiterated a "neutral" rating and issued a $342.00 price objective (up previously from $280.00) on shares of Zebra Technologies in a research note on Monday, July 14th. Truist Financial lifted their price objective on shares of Zebra Technologies from $269.00 to $319.00 and gave the company a "hold" rating in a research note on Wednesday. Robert W. Baird boosted their price target on shares of Zebra Technologies from $320.00 to $367.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Finally, BNP Paribas raised shares of Zebra Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 10th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $357.44.

Zebra Technologies Company Profile

Zebra Technologies Corporation, together with its subsidiaries, provides enterprise asset intelligence solutions in the automatic identification and data capture solutions industry worldwide. It operates in two segments, Asset Intelligence & Tracking, and Enterprise Visibility & Mobility. The company designs, manufactures, and sells printers that produce labels, wristbands, tickets, receipts, and plastic cards; dye-sublimination thermal card printers that produce images, which are used for personal identification, access control, and financial transactions; radio frequency identification device (RFID) printers that encode data into passive RFID transponders; accessories and options for printers, including carrying cases, vehicle mounts, and battery chargers; stock and customized thermal labels, receipts, ribbons, plastic cards, and RFID tags for printers; and temperature-monitoring labels primarily used in vaccine distribution.

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