Atria Investments LLC Sells 2,116 Shares of Ferrari (NYSE:RACE)

Atria Investments LLC trimmed its holdings in shares of Ferrari (NYSE:RACEGet Rating) by 24.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,466 shares of the company’s stock after selling 2,116 shares during the quarter. Atria Investments LLC’s holdings in Ferrari were worth $1,186,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RACE. National Asset Management Inc. lifted its position in shares of Ferrari by 39.9% during the first quarter. National Asset Management Inc. now owns 1,792 shares of the company’s stock worth $391,000 after purchasing an additional 511 shares during the last quarter. Banque Pictet & Cie SA lifted its position in shares of Ferrari by 177.8% during the first quarter. Banque Pictet & Cie SA now owns 12,417 shares of the company’s stock worth $2,745,000 after purchasing an additional 7,948 shares during the last quarter. Prospera Financial Services Inc bought a new stake in shares of Ferrari during the first quarter worth $59,000. Pacific Sun Financial Corp lifted its position in shares of Ferrari by 7.4% during the first quarter. Pacific Sun Financial Corp now owns 1,093 shares of the company’s stock worth $238,000 after purchasing an additional 75 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Ferrari by 30.1% during the first quarter. New York State Common Retirement Fund now owns 217,128 shares of the company’s stock worth $47,353,000 after purchasing an additional 50,221 shares during the last quarter. 32.31% of the stock is currently owned by institutional investors.

Ferrari Price Performance

RACE opened at $217.59 on Friday. The business’s 50-day moving average is $196.18 and its two-hundred day moving average is $195.58. Ferrari has a 1 year low of $167.45 and a 1 year high of $271.95. 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 firm has a market capitalization of $40.20 billion, a PE ratio of 39.78, a price-to-earnings-growth ratio of 3.57 and a beta of 0.94.

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, beating the consensus estimate of $1.14 by $0.10. Ferrari had a return on equity of 40.02% and a net margin of 19.00%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.15 billion. Research analysts anticipate that Ferrari will post 5.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

About Ferrari

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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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