PNC Financial Services Group Inc. Sells 2,378 Shares of Zebra Technologies Co. (NASDAQ:ZBRA)

PNC Financial Services Group Inc. decreased its holdings in Zebra Technologies Co. (NASDAQ:ZBRA) by 12.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,649 shares of the industrial products company’s stock after selling 2,378 shares during the period. PNC Financial Services Group Inc.’s holdings in Zebra Technologies were worth $4,551,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. MJP Associates Inc. ADV raised its stake in shares of Zebra Technologies by 7.5% during the 4th quarter. MJP Associates Inc. ADV now owns 920 shares of the industrial products company’s stock worth $251,000 after acquiring an additional 64 shares in the last quarter. Arizona State Retirement System increased its position in shares of Zebra Technologies by 0.6% in the fourth quarter. Arizona State Retirement System now owns 14,110 shares of the industrial products company’s stock valued at $3,857,000 after buying an additional 79 shares in the last quarter. Wahed Invest LLC raised its position in shares of Zebra Technologies by 11.9% during the 3rd quarter. Wahed Invest LLC now owns 811 shares of the industrial products company’s stock worth $192,000 after purchasing an additional 86 shares during the last quarter. Signaturefd LLC lifted its holdings in Zebra Technologies by 13.2% in the 3rd quarter. Signaturefd LLC now owns 851 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 99 shares in the last quarter. Finally, Eagle Bay Advisors LLC boosted its holdings in shares of Zebra Technologies by 17.4% during the 4th quarter. Eagle Bay Advisors LLC now owns 756 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 112 shares during the last quarter. 91.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Michael Cho sold 1,657 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $320.51, for a total transaction of $531,085.07. Following the completion of the sale, the insider now owns 3,809 shares in the company, valued at approximately $1,220,822.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ZBRA shares. StockNews.com upgraded shares of Zebra Technologies from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Needham & Company LLC upped their target price on Zebra Technologies from $352.00 to $370.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Stephens upped their price target on Zebra Technologies from $335.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Truist Financial restated a “hold” rating and set a $315.00 target price (up from $300.00) on shares of Zebra Technologies in a research report on Wednesday, May 1st. Finally, Robert W. Baird lifted their target price on shares of Zebra Technologies from $312.00 to $330.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Zebra Technologies has an average rating of “Hold” and an average price target of $312.27.

Zebra Technologies Stock Performance

NASDAQ ZBRA opened at $327.00 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.56 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $16.81 billion, a PE ratio of 64.88 and a beta of 1.76. The business’s 50-day moving average price is $300.90 and its 200 day moving average price is $269.97. Zebra Technologies Co. has a twelve month low of $194.59 and a twelve month high of $328.70.

Zebra Technologies (NASDAQ:ZBRA) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.13 by $0.71. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. Zebra Technologies had a net margin of 5.99% and a return on equity of 13.05%. Zebra Technologies’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.59 earnings per share. On average, research analysts predict that Zebra Technologies Co. will post 10.76 earnings per share for the current year.

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.