Ferrari (NYSE:RACE) Shares Sold by Stonebridge Capital Management Inc.

Stonebridge Capital Management Inc. decreased its holdings in shares of Ferrari (NYSE:RACE) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,711 shares of the company’s stock after selling 300 shares during the quarter. Ferrari comprises about 2.2% of Stonebridge Capital Management Inc.’s portfolio, making the stock its 14th biggest holding. Stonebridge Capital Management Inc.’s holdings in Ferrari were worth $5,400,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Ferrari during the third quarter worth $29,000. Planning Capital Management Corp purchased a new position in Ferrari during the third quarter worth about $30,000. Ashton Thomas Securities LLC acquired a new stake in shares of Ferrari during the third quarter worth about $33,000. FSC Wealth Advisors LLC acquired a new stake in shares of Ferrari during the third quarter worth about $47,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Ferrari during the third quarter worth about $47,000.

Wall Street Analyst Weigh In

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

Ferrari Trading Up 2.3 %

Shares of Ferrari stock opened at $431.74 on Thursday. Ferrari has a 52-week low of $330.15 and a 52-week high of $498.23. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The company’s 50-day simple moving average is $435.31 and its 200-day simple moving average is $447.97. The firm has a market cap of $79.76 billion, a price-to-earnings ratio of 50.14, a price-to-earnings-growth ratio of 3.68 and a beta of 0.95.

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

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.