Castleark Management LLC Purchases 48,635 Shares of Zebra Technologies (NASDAQ:ZBRA)
Castleark Management LLC raised its holdings in shares of Zebra Technologies (NASDAQ:ZBRA) by 58.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 131,402 shares of the industrial products company’s stock after purchasing an additional 48,635 shares during the period. Zebra Technologies accounts for approximately 1.1% of Castleark Management LLC’s holdings, making the stock its 25th biggest holding. Castleark Management LLC’s holdings in Zebra Technologies were worth $27,527,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. APG Asset Management N.V. grew its holdings in shares of Zebra Technologies by 491.7% in the 2nd quarter. APG Asset Management N.V. now owns 687,000 shares of the industrial products company’s stock valued at $126,378,000 after buying an additional 570,900 shares during the period. Toronto Dominion Bank bought a new position in Zebra Technologies during the second quarter worth about $1,764,000. Ossiam acquired a new position in Zebra Technologies in the second quarter valued at about $322,000. Seeyond acquired a new position in Zebra Technologies in the second quarter valued at about $128,000. Finally, Pictet Asset Management Ltd. increased its holdings in shares of Zebra Technologies by 0.8% in the second quarter. Pictet Asset Management Ltd. now owns 750,278 shares of the industrial products company’s stock worth $157,176,000 after acquiring an additional 5,669 shares in the last quarter. 89.27% of the stock is currently owned by institutional investors.
In related news, Director Chirantan Jitendra Desai sold 1,978 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $206.60, for a total value of $408,654.80. Following the completion of the transaction, the director now owns 5,955 shares of the company’s stock, valued at $1,230,303. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jeffrey F. Schmitz sold 4,019 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $192.37, for a total transaction of $773,135.03. Following the completion of the transaction, the senior vice president now directly owns 8,436 shares of the company’s stock, valued at approximately $1,622,833.32. The disclosure for this sale can be found here. Insiders sold a total of 54,457 shares of company stock worth $11,115,417 in the last 90 days. Company insiders own 1.77% of the company’s stock.
Zebra Technologies (NASDAQ:ZBRA) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $3.02 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.32. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Zebra Technologies had a return on equity of 43.60% and a net margin of 10.95%. Zebra Technologies’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.48 earnings per share. Analysts forecast that Zebra Technologies will post 12.1 EPS for the current fiscal year.
A number of equities research analysts have recently commented on the company. Atlantic Securities started coverage on Zebra Technologies in a research report on Tuesday, August 27th. They set an “overweight” rating and a $230.00 price target on the stock. Zacks Investment Research lowered Zebra Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. ValuEngine raised Zebra Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. BidaskClub downgraded shares of Zebra Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 17th. Finally, Imperial Capital reaffirmed an “outperform” rating and issued a $245.00 price target (up previously from $230.00) on shares of Zebra Technologies in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. Zebra Technologies has an average rating of “Buy” and an average target price of $226.00.
Zebra Technologies Profile
Zebra (NASDAQ: ZBRA) empowers the front line of business in retail/ecommerce, manufacturing, transportation and logistics, healthcare and other industries to achieve a performance edge. With more than 10,000 partners across 100 countries, they deliver industry-tailored, end-to-end solutions that intelligently connect people, assets and data to help our customers make business-critical decisions. Their market-leading solutions elevate the shopping experience, track and manage inventory as well as improve supply chain efficiency and patient care.
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