Kestra Advisory Services LLC Decreases Stock Holdings in Ferrari N.V. $RACE

Kestra Advisory Services LLC reduced its stake in shares of Ferrari N.V. (NYSE:RACE) by 48.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,006 shares of the company’s stock after selling 2,843 shares during the period. Kestra Advisory Services LLC’s holdings in Ferrari were worth $1,017,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in RACE. Benjamin Edwards Inc. lifted its position in Ferrari by 3.7% during the second quarter. Benjamin Edwards Inc. now owns 613 shares of the company’s stock worth $299,000 after buying an additional 22 shares in the last quarter. Pacific Sun Financial Corp grew its holdings in Ferrari by 2.5% in the 3rd quarter. Pacific Sun Financial Corp now owns 1,008 shares of the company’s stock valued at $489,000 after buying an additional 25 shares in the last quarter. Horizon Investments LLC grew its holdings in Ferrari by 33.3% in the 3rd quarter. Horizon Investments LLC now owns 104 shares of the company’s stock valued at $50,000 after buying an additional 26 shares in the last quarter. Evergreen Capital Management LLC increased its stake in shares of Ferrari by 1.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,928 shares of the company’s stock worth $946,000 after acquiring an additional 26 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Ferrari by 14.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 222 shares of the company’s stock worth $108,000 after acquiring an additional 28 shares during the last quarter.

Ferrari Stock Performance

Shares of Ferrari stock opened at $359.82 on Friday. Ferrari N.V. has a 52 week low of $312.51 and a 52 week high of $519.10. The business’s fifty day simple moving average is $359.23 and its 200-day simple moving average is $352.39. The firm has a market cap of $84.18 billion, a PE ratio of 34.53, a price-to-earnings-growth ratio of 3.19 and a beta of 0.92. The company has a quick ratio of 4.08, a current ratio of 5.20 and a debt-to-equity ratio of 0.72.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RACE shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a report on Wednesday, July 8th. UBS Group raised their price objective on shares of Ferrari from $483.00 to $497.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Wolfe Research assumed coverage on shares of Ferrari in a research note on Tuesday, July 7th. They set an “outperform” rating on the stock. Morgan Stanley raised shares of Ferrari from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $388.00 to $438.00 in a research note on Monday, June 15th. Finally, Jefferies Financial Group upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $471.97.

About Ferrari

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.