Cinctive Capital Management LP Takes $841,000 Position in Zebra Technologies Co. (NASDAQ:ZBRA)

Cinctive Capital Management LP acquired a new position in shares of Zebra Technologies Co. (NASDAQ:ZBRA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,270 shares of the industrial products company’s stock, valued at approximately $841,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. boosted its stake in shares of Zebra Technologies by 264.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 616 shares of the industrial products company’s stock worth $228,000 after acquiring an additional 447 shares in the last quarter. Paloma Partners Management Co acquired a new position in Zebra Technologies during the third quarter worth $280,000. Point72 Hong Kong Ltd acquired a new position in Zebra Technologies during the third quarter worth $7,776,000. Maverick Capital Ltd. grew its holdings in Zebra Technologies by 28.2% in the third quarter. Maverick Capital Ltd. now owns 6,438 shares of the industrial products company’s stock valued at $2,384,000 after purchasing an additional 1,417 shares during the last quarter. Finally, Kolinsky Wealth Management LLC purchased a new position in shares of Zebra Technologies in the third quarter valued at $264,000. Hedge funds and other institutional investors own 91.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Robert W. Baird boosted their price objective on shares of Zebra Technologies from $380.00 to $415.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Barclays increased their price target on shares of Zebra Technologies from $347.00 to $407.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. StockNews.com upgraded Zebra Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. TD Cowen increased their target price on Zebra Technologies from $380.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley raised Zebra Technologies from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $305.00 to $400.00 in a report on Monday. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $393.82.

Zebra Technologies Price Performance

Shares of NASDAQ:ZBRA opened at $406.40 on Wednesday. The business has a fifty day simple moving average of $382.31 and a 200-day simple moving average of $345.66. Zebra Technologies Co. has a 52 week low of $232.29 and a 52 week high of $412.45. The company has a market cap of $20.96 billion, a P/E ratio of 55.29 and a beta of 1.63. The company has a quick ratio of 0.96, a current ratio of 1.37 and a debt-to-equity ratio of 0.61.

Zebra Technologies (NASDAQ:ZBRA) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.57. Zebra Technologies had a net margin of 8.20% and a return on equity of 15.56%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the company posted $0.57 EPS. The company’s quarterly revenue was up 31.3% compared to the same quarter last year. Equities research analysts forecast that Zebra Technologies Co. will post 12.4 EPS for the current year.

Insider Transactions at Zebra Technologies

In other news, CFO Nathan Andrew Winters sold 1,837 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $381.73, for a total transaction of $701,238.01. Following the completion of the sale, the chief financial officer now owns 11,421 shares in the company, valued at approximately $4,359,738.33. The trade was a 13.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.04% of the company’s stock.

About Zebra Technologies

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.