Citigroup Inc. Sells 10,667 Shares of Zebra Technologies Co. (NASDAQ:ZBRA)

Citigroup Inc. lowered its stake in Zebra Technologies Co. (NASDAQ:ZBRA) by 12.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 71,818 shares of the industrial products company’s stock after selling 10,667 shares during the quarter. Citigroup Inc. owned 0.14% of Zebra Technologies worth $26,596,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ZBRA. Concord Wealth Partners bought a new stake in Zebra Technologies during the 3rd quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Zebra Technologies in the second quarter valued at about $27,000. Farmers & Merchants Investments Inc. raised its stake in shares of Zebra Technologies by 185.3% during the second quarter. Farmers & Merchants Investments Inc. now owns 97 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 63 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Zebra Technologies during the second quarter worth about $32,000. Finally, Blue Trust Inc. grew its stake in shares of Zebra Technologies by 136.7% in the third quarter. Blue Trust Inc. now owns 116 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 91.03% of the company’s stock.

Insider Transactions at Zebra Technologies

In related news, CFO Nathan Andrew Winters sold 1,837 shares of Zebra Technologies stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $381.73, for a total value of $701,238.01. Following the completion of the sale, the chief financial officer now owns 11,421 shares of the company’s stock, valued at $4,359,738.33. The trade was a 13.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.06% of the company’s stock.

Zebra Technologies Price Performance

ZBRA opened at $400.94 on Tuesday. The firm has a market cap of $20.68 billion, a PE ratio of 54.55 and a beta of 1.64. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.37 and a quick ratio of 0.96. Zebra Technologies Co. has a 1 year low of $227.65 and a 1 year high of $405.62. The stock has a 50-day moving average price of $376.83 and a 200-day moving average price of $341.98.

Zebra Technologies (NASDAQ:ZBRA) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.57. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.22 billion. Zebra Technologies had a net margin of 8.20% and a return on equity of 15.56%. The firm’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 earnings per share. Sell-side analysts predict that Zebra Technologies Co. will post 12.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on ZBRA. StockNews.com raised Zebra Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Redburn Atlantic upgraded Zebra Technologies to a “strong-buy” rating in a report on Wednesday, July 31st. Morgan Stanley lifted their price target on shares of Zebra Technologies from $290.00 to $305.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. Needham & Company LLC increased their target price on Zebra Technologies from $394.00 to $430.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, TD Cowen upped their price target on Zebra Technologies from $380.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Zebra Technologies has an average rating of “Moderate Buy” and an average price target of $385.18.

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.