Zebra Technologies Corporation (NASDAQ:ZBRA) Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Zebra Technologies by 1.7%, acquiring an additional 104,940 shares, bringing its total ownership to 6,365,470 shares valued at approximately $1.8 billion.
• Zebra Technologies recently reported Q2 earnings of $3.61 per share, surpassing estimates by $0.30, with a revenue of $1.29 billion, which represents a 6.2% year-over-year growth.
• The company has initiated a $250 million stock repurchase program, signaling management's belief that its shares are undervalued.

Vanguard Group Inc. boosted its stake in Zebra Technologies Corporation (NASDAQ:ZBRA - Free Report) by 1.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,365,470 shares of the industrial products company's stock after buying an additional 104,940 shares during the quarter. Vanguard Group Inc. owned approximately 12.39% of Zebra Technologies worth $1,798,627,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ZBRA. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Zebra Technologies in the first quarter worth about $29,000. Cary Street Partners Financial LLC purchased a new position in shares of Zebra Technologies in the first quarter worth about $998,000. New Age Alpha Advisors LLC purchased a new position in shares of Zebra Technologies in the first quarter worth about $131,000. R Squared Ltd lifted its stake in shares of Zebra Technologies by 39.8% in the first quarter. R Squared Ltd now owns 1,580 shares of the industrial products company's stock worth $446,000 after buying an additional 450 shares in the last quarter. Finally, SlateStone Wealth LLC lifted its stake in shares of Zebra Technologies by 7.9% in the first quarter. SlateStone Wealth LLC now owns 9,129 shares of the industrial products company's stock worth $2,579,000 after buying an additional 671 shares in the last quarter. 91.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on ZBRA. Wall Street Zen downgraded shares of Zebra Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Needham & Company LLC raised their price target on shares of Zebra Technologies from $325.00 to $345.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. BNP Paribas raised shares of Zebra Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 10th. Barclays set a $301.00 target price on shares of Zebra Technologies and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Finally, BNP Paribas Exane raised shares of Zebra Technologies from a "neutral" rating to an "outperform" rating and set a $408.00 target price on the stock in a research note on Thursday, July 10th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $357.44.

Zebra Technologies Trading Up 5.0%

ZBRA stock traded up $15.69 during trading on Tuesday, reaching $328.14. 628,413 shares of the stock were exchanged, compared to its average volume of 626,938. The business has a 50 day moving average price of $314.35 and a 200-day moving average price of $298.55. The firm has a market capitalization of $16.69 billion, a price-to-earnings ratio of 30.99 and a beta of 1.75. Zebra Technologies Corporation has a 1 year low of $205.73 and a 1 year high of $427.76. The company has a current ratio of 1.46, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59.

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

Zebra Technologies announced that its board has initiated a share repurchase plan on Tuesday, August 5th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Zebra Technologies 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.