Short Interest in Zebra Technologies Co. (NASDAQ:ZBRA) Decreases By 17.2%

Zebra Technologies Co. (NASDAQ:ZBRA) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 511,800 shares, a drop of 17.2% from the October 15th total of 618,000 shares. Based on an average daily trading volume, of 357,000 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.0% of the shares of the company are sold short.

Zebra Technologies Trading Down 1.4 %

NASDAQ ZBRA opened at $394.66 on Friday. Zebra Technologies has a fifty-two week low of $212.40 and a fifty-two week high of $405.62. The stock has a market cap of $20.36 billion, a P/E ratio of 53.70 and a beta of 1.64. The stock has a 50 day simple moving average of $367.75 and a two-hundred day simple moving average of $337.45. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current ratio of 1.37.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Truist Financial reiterated 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. Morgan Stanley upped their price objective on Zebra Technologies from $290.00 to $305.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. Needham & Company LLC upped their price objective on Zebra Technologies from $394.00 to $430.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group increased their target price on Zebra Technologies from $390.00 to $445.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $385.18.

Insiders Place Their Bets

In other 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 transaction, the chief financial officer now directly owns 11,421 shares in the company, valued at approximately $4,359,738.33. The trade was a 13.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.06% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WCM Investment Management LLC increased its position in Zebra Technologies by 0.3% during the 3rd quarter. WCM Investment Management LLC now owns 9,501 shares of the industrial products company’s stock valued at $3,502,000 after buying an additional 27 shares in the last quarter. KPP Advisory Services LLC boosted its stake in Zebra Technologies by 2.3% during the 3rd quarter. KPP Advisory Services LLC now owns 1,246 shares of the industrial products company’s stock valued at $461,000 after purchasing an additional 28 shares during the last quarter. Cascade Investment Advisors Inc. boosted its stake in Zebra Technologies by 0.7% during the 3rd quarter. Cascade Investment Advisors Inc. now owns 4,387 shares of the industrial products company’s stock valued at $1,625,000 after purchasing an additional 30 shares during the last quarter. Private Advisor Group LLC boosted its stake in Zebra Technologies by 1.4% during the 3rd quarter. Private Advisor Group LLC now owns 2,218 shares of the industrial products company’s stock valued at $821,000 after purchasing an additional 31 shares during the last quarter. Finally, Metis Global Partners LLC boosted its stake in Zebra Technologies by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 1,649 shares of the industrial products company’s stock valued at $611,000 after purchasing an additional 31 shares during the last quarter. Institutional investors own 91.03% of the company’s stock.

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.