SOA Wealth Advisors LLC. Makes New $4.18 Million Investment in Ferrari (NYSE:RACE)

SOA Wealth Advisors LLC. acquired a new position in Ferrari (NYSE:RACE) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,774 shares of the company’s stock, valued at approximately $4,182,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RACE. Norges Bank bought a new stake in shares of Ferrari during the fourth quarter worth $697,226,000. Price T Rowe Associates Inc. MD increased its holdings in Ferrari by 49.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company’s stock valued at $763,125,000 after purchasing an additional 594,547 shares during the last quarter. Barclays PLC increased its holdings in Ferrari by 198.0% in the fourth quarter. Barclays PLC now owns 853,971 shares of the company’s stock valued at $362,802,000 after purchasing an additional 567,407 shares during the last quarter. Marshall Wace LLP grew its stake in Ferrari by 62.1% in the fourth quarter. Marshall Wace LLP now owns 1,358,467 shares of the company’s stock valued at $579,561,000 after acquiring an additional 520,337 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in Ferrari by 380.7% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company’s stock valued at $107,770,000 after acquiring an additional 192,694 shares during the period.

Ferrari Price Performance

Shares of NYSE RACE opened at $482.71 on Friday. The firm has a market cap of $117.00 billion, a P/E ratio of 52.75, a price-to-earnings-growth ratio of 4.43 and a beta of 1.10. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 1-year low of $391.54 and a 1-year high of $509.13. The business’s 50 day moving average is $460.56 and its 200-day moving average is $450.78.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.06. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the company earned $1.95 EPS. The company’s revenue was up 13.0% on a year-over-year basis. Equities research analysts predict that Ferrari will post 9.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RACE shares. JPMorgan Chase & Co. reduced their price objective on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, March 28th. UBS Group upped their price objective on Ferrari from $520.00 to $560.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Wall Street Zen lowered Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th. Finally, Kepler Capital Markets upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 28th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ferrari currently has a consensus rating of “Moderate Buy” and an average target price of $526.25.

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.