Ferrari N.V. (NYSE:RACE) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. cut its stake in shares of Ferrari N.V. (NYSE:RACE) by 19.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 538 shares of the company’s stock after selling 127 shares during the quarter. Brown Advisory Inc.’s holdings in Ferrari were worth $230,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Garde Capital Inc. boosted its holdings in Ferrari by 5.0% in the fourth quarter. Garde Capital Inc. now owns 525 shares of the company’s stock valued at $223,000 after purchasing an additional 25 shares in the last quarter. PDS Planning Inc boosted its holdings in Ferrari by 4.8% in the fourth quarter. PDS Planning Inc now owns 589 shares of the company’s stock valued at $250,000 after purchasing an additional 27 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Ferrari by 7.9% in the first quarter. Fifth Third Bancorp now owns 424 shares of the company’s stock valued at $181,000 after purchasing an additional 31 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Ferrari by 1.3% in the first quarter. International Assets Investment Management LLC now owns 2,711 shares of the company’s stock valued at $1,160,000 after purchasing an additional 34 shares in the last quarter. Finally, NorthRock Partners LLC boosted its holdings in Ferrari by 6.0% in the fourth quarter. NorthRock Partners LLC now owns 617 shares of the company’s stock valued at $262,000 after purchasing an additional 35 shares in the last quarter.

Ferrari Price Performance

RACE stock opened at $505.07 on Thursday. The company has a market capitalization of $122.42 billion, a P/E ratio of 53.45, a PEG ratio of 5.34 and a beta of 1.09. Ferrari N.V. has a twelve month low of $391.54 and a twelve month high of $509.13. The business has a 50 day simple moving average of $482.76 and a 200-day simple moving average of $458.90. The company has a current ratio of 5.09, a quick ratio of 4.04 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.36 by $0.06. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the business earned $1.95 earnings per share. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, equities analysts anticipate that Ferrari N.V. will post 9.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Kepler Capital Markets raised Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 28th. JPMorgan Chase & Co. lowered their price target on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. UBS Group increased their price objective on Ferrari from $520.00 to $560.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. Finally, Wall Street Zen downgraded Ferrari from a “buy” rating to a “hold” rating in a report on Thursday, May 15th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and a consensus price target of $526.25.

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.