Baird Financial Group Inc. Sells 139 Shares of Ferrari (NYSE:RACE)

Baird Financial Group Inc. trimmed its position in Ferrari (NYSE:RACEGet Rating) by 2.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,113 shares of the company’s stock after selling 139 shares during the period. Baird Financial Group Inc.’s holdings in Ferrari were worth $938,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in shares of Ferrari during the 2nd quarter valued at approximately $47,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of Ferrari by 238.6% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the company’s stock valued at $52,000 after acquiring an additional 198 shares during the period. Prospera Financial Services Inc bought a new position in shares of Ferrari during the 1st quarter valued at approximately $59,000. Standard Family Office LLC bought a new position in shares of Ferrari during the 1st quarter valued at approximately $59,000. Finally, First Horizon Advisors Inc. grew its position in shares of Ferrari by 16,950.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 341 shares of the company’s stock valued at $61,000 after acquiring an additional 339 shares during the period. 32.31% of the stock is owned by institutional investors.

Ferrari Stock Performance

NYSE RACE opened at $216.33 on Friday. Ferrari has a 1 year low of $167.45 and a 1 year high of $278.78. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.47 and a quick ratio of 3.74. The stock has a market capitalization of $39.97 billion, a PE ratio of 39.55, a P/E/G ratio of 3.50 and a beta of 0.94. The company’s 50 day simple moving average is $195.16 and its two-hundred day simple moving average is $195.33.

Ferrari (NYSE:RACEGet Rating) last posted its earnings results on Wednesday, November 2nd. The company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.10. Ferrari had a net margin of 19.00% and a return on equity of 40.02%. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Analysts predict that Ferrari will post 5.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Ferrari from $300.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, November 3rd. StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, November 9th. HSBC upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, October 27th. Finally, UBS Group upped their price target on shares of Ferrari from $255.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $228.89.

Ferrari Company Profile

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Ferrari NV is a holding company, which engages in the design, engineering, production, and sale of luxury sports cars. The firm’s models include the F12Berlinetta, 488GTB, 488 Spider, 458 Speciale, California T, the LaFerrari Hybrid, LaFerrari, and the FF four-wheel drive. It participates in car racing such as Formula One.

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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