180 Shares in Ferrari (NYSE:RACE) Purchased by R Squared Ltd

R Squared Ltd bought a new stake in Ferrari (NYSE:RACE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 180 shares of the company’s stock, valued at approximately $76,000.

Several other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC acquired a new position in Ferrari in the second quarter valued at about $228,000. Creative Planning raised its stake in shares of Ferrari by 5.9% in the 2nd quarter. Creative Planning now owns 10,959 shares of the company’s stock valued at $4,475,000 after acquiring an additional 606 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Ferrari by 23.1% in the 2nd quarter. NewEdge Advisors LLC now owns 3,401 shares of the company’s stock worth $1,389,000 after acquiring an additional 639 shares during the last quarter. Sunbelt Securities Inc. boosted its position in shares of Ferrari by 31.6% during the 2nd quarter. Sunbelt Securities Inc. now owns 379 shares of the company’s stock worth $155,000 after purchasing an additional 91 shares during the period. Finally, Truist Financial Corp increased its holdings in Ferrari by 8.2% in the 2nd quarter. Truist Financial Corp now owns 10,605 shares of the company’s stock valued at $4,331,000 after purchasing an additional 804 shares during the last quarter.

Ferrari Stock Down 0.6 %

Shares of NYSE:RACE opened at $429.35 on Friday. The firm has a 50 day simple moving average of $433.82 and a 200-day simple moving average of $448.37. Ferrari has a twelve month low of $345.92 and a twelve month high of $498.23. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $104.65 billion, a PE ratio of 49.87, a P/E/G ratio of 3.73 and a beta of 0.95.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. Ferrari’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $1.98 earnings per share. On average, equities analysts predict that Ferrari will post 8.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on RACE. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $385.00 to $525.00 in a research report on Friday, October 11th. UBS Group increased their price target on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Evercore ISI raised their price objective on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.