ExodusPoint Capital Management LP bought a new stake in Ferrari (NYSE:RACE – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,350 shares of the company’s stock, valued at approximately $1,450,000.
Several other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. acquired a new position in shares of Ferrari in the 1st quarter valued at $1,743,000. Envestnet Asset Management Inc. grew its holdings in shares of Ferrari by 0.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 230,001 shares of the company’s stock valued at $62,310,000 after buying an additional 1,619 shares during the period. Greenleaf Trust grew its holdings in shares of Ferrari by 3.8% in the 1st quarter. Greenleaf Trust now owns 2,638 shares of the company’s stock valued at $715,000 after buying an additional 96 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of Ferrari by 10.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 2,921 shares of the company’s stock valued at $791,000 after buying an additional 272 shares during the period. Finally, Highland Capital Management LLC grew its holdings in shares of Ferrari by 1.9% in the 1st quarter. Highland Capital Management LLC now owns 5,450 shares of the company’s stock valued at $1,477,000 after buying an additional 100 shares during the period.
Analyst Ratings Changes
RACE has been the subject of several research analyst reports. Jefferies Financial Group boosted their price target on shares of Ferrari from $275.00 to $300.00 and gave the company a “hold” rating in a report on Friday, August 25th. Morgan Stanley reaffirmed an “overweight” rating and issued a $340.00 price objective on shares of Ferrari in a research report on Monday, July 31st. Bank of America boosted their price objective on shares of Ferrari from $350.00 to $380.00 in a research report on Thursday, July 6th. Sanford C. Bernstein boosted their price objective on shares of Ferrari from $250.00 to $300.00 and gave the company a “market perform” rating in a research report on Friday, August 18th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Ferrari from $245.00 to $260.00 in a research report on Monday, May 8th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $304.36.
Ferrari Trading Down 3.0 %
Ferrari stock opened at $308.32 on Friday. Ferrari has a one year low of $176.82 and a one year high of $329.88. The company has a market cap of $56.96 billion, a price-to-earnings ratio of 49.65, a P/E/G ratio of 2.84 and a beta of 1.01. The firm has a 50-day moving average of $316.52 and a 200-day moving average of $293.10. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.91 and a quick ratio of 3.04.
Ferrari (NYSE:RACE – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.22. Ferrari had a net margin of 19.60% and a return on equity of 40.70%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. On average, equities analysts expect that Ferrari will post 7.03 earnings per share for the current fiscal year.
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.
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