Edmond DE Rothschild Holding S.A. Lowers Position in Ferrari (NYSE:RACE)

Edmond DE Rothschild Holding S.A. trimmed its position in shares of Ferrari (NYSE:RACE) by 9.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,210 shares of the company’s stock after selling 1,397 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Ferrari were worth $5,758,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. boosted its position in Ferrari by 12.0% during the third quarter. B. Riley Wealth Advisors Inc. now owns 2,140 shares of the company’s stock worth $632,000 after purchasing an additional 230 shares in the last quarter. Vanguard Group Inc. grew its stake in Ferrari by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,441,408 shares of the company’s stock valued at $1,312,614,000 after acquiring an additional 61,132 shares during the period. Exchange Traded Concepts LLC grew its stake in Ferrari by 12,370.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,247 shares of the company’s stock valued at $422,000 after acquiring an additional 1,237 shares during the period. Gateway Investment Advisers LLC purchased a new stake in Ferrari in the 4th quarter worth $1,907,000. Finally, Marshall Financial Group LLC raised its position in Ferrari by 5.8% during the fourth quarter. Marshall Financial Group LLC now owns 2,457 shares of the company’s stock worth $832,000 after acquiring an additional 135 shares during the period.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Jefferies Financial Group initiated coverage on Ferrari in a research report on Friday, May 10th. They set a “hold” rating and a $403.00 price target for the company. Evercore ISI raised their price target on shares of Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 4th. UBS Group increased their price objective on shares of Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a report on Monday, June 24th. Finally, Bank of America boosted their target price on Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $461.67.

Ferrari Stock Down 2.0 %

NYSE:RACE traded down $8.51 during mid-day trading on Wednesday, hitting $420.71. The stock had a trading volume of 177,294 shares, compared to its average volume of 273,835. Ferrari has a twelve month low of $285.02 and a twelve month high of $442.80. The stock has a 50-day simple moving average of $417.03 and a two-hundred day simple moving average of $403.43. The company has a quick ratio of 3.25, a current ratio of 4.18 and a debt-to-equity ratio of 0.80.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, May 7th. The company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.04 by $0.08. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. As a group, analysts expect that Ferrari will post 8.2 EPS for the current fiscal year.

Ferrari Company 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.