Franklin Resources Inc. Sells 195,672 Shares of Zebra Technologies Co. (NASDAQ:ZBRA)

Franklin Resources Inc. decreased its stake in shares of Zebra Technologies Co. (NASDAQ:ZBRA) by 26.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 541,174 shares of the industrial products company’s stock after selling 195,672 shares during the period. Franklin Resources Inc.’s holdings in Zebra Technologies were worth $204,380,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sequoia Financial Advisors LLC bought a new stake in Zebra Technologies during the 3rd quarter valued at approximately $247,000. Point72 DIFC Ltd purchased a new position in shares of Zebra Technologies in the 3rd quarter valued at approximately $2,113,000. Raymond James & Associates grew its stake in Zebra Technologies by 2.5% in the second quarter. Raymond James & Associates now owns 196,636 shares of the industrial products company’s stock worth $60,747,000 after purchasing an additional 4,750 shares during the period. Versor Investments LP bought a new position in Zebra Technologies in the third quarter worth $1,752,000. Finally, Cerity Partners LLC boosted its holdings in shares of Zebra Technologies by 45.3% during the 3rd quarter. Cerity Partners LLC now owns 10,668 shares of the industrial products company’s stock valued at $3,950,000 after buying an additional 3,328 shares in the last quarter. Hedge funds and other institutional investors own 91.03% of the company’s stock.

Zebra Technologies Stock Down 1.0 %

Zebra Technologies stock opened at $403.59 on Friday. The stock has a market cap of $20.82 billion, a PE ratio of 54.91 and a beta of 1.63. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current ratio of 1.37. The stock has a fifty day moving average of $388.62 and a 200 day moving average of $349.94. Zebra Technologies Co. has a one year low of $233.95 and a one year high of $413.43.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ZBRA shares. StockNews.com raised shares of Zebra Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Truist Financial reissued a “hold” rating and issued a $383.00 price target (up from $379.00) on shares of Zebra Technologies in a research report on Wednesday, October 30th. Needham & Company LLC raised their price objective on Zebra Technologies from $394.00 to $430.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Robert W. Baird boosted their target price on Zebra Technologies from $380.00 to $415.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, TD Cowen raised their price target on Zebra Technologies from $380.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four 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 presently has an average rating of “Moderate Buy” and an average price target of $393.82.

Insiders Place Their Bets

In other news, CFO Nathan Andrew Winters sold 1,837 shares of the company’s 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 directly owns 11,421 shares in the company, valued at $4,359,738.33. This represents a 13.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.06% 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.