D.A. Davidson & CO. Sells 348 Shares of Ferrari N.V. $RACE

D.A. Davidson & CO. lessened its holdings in shares of Ferrari N.V. (NYSE:RACE) by 28.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 868 shares of the company’s stock after selling 348 shares during the period. D.A. Davidson & CO.’s holdings in Ferrari were worth $426,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. GW&K Investment Management LLC lifted its holdings in shares of Ferrari by 288.9% during the 1st quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock valued at $30,000 after purchasing an additional 52 shares in the last quarter. Brooklyn Investment Group grew its stake in shares of Ferrari by 381.3% during the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock worth $33,000 after acquiring an additional 61 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Ferrari by 41.2% in the second quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock valued at $35,000 after purchasing an additional 21 shares during the last quarter. Centerpoint Advisors LLC acquired a new stake in shares of Ferrari in the first quarter valued at approximately $43,000. Finally, Gordian Capital Singapore Pte Ltd lifted its position in shares of Ferrari by 42.9% in the first quarter. Gordian Capital Singapore Pte Ltd now owns 100 shares of the company’s stock worth $43,000 after purchasing an additional 30 shares in the last quarter.

Ferrari Trading Down 2.8%

Shares of Ferrari stock opened at $391.05 on Thursday. Ferrari N.V. has a 12-month low of $372.31 and a 12-month high of $519.10. The stock has a market cap of $94.78 billion, a P/E ratio of 40.36, a P/E/G ratio of 4.27 and a beta of 1.08. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $455.93 and its 200-day moving average is $467.98.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.13. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the prior year, the business posted $2.29 EPS. The business’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RACE has been the topic of a number of research reports. Cfra Research lowered shares of Ferrari from a “hold” rating to a “moderate sell” rating in a research report on Thursday, July 31st. UBS Group cut their price objective on shares of Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Citigroup cut their price objective on shares of Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Royal Bank Of Canada reissued an “outperform” rating on shares of Ferrari in a research report on Monday, August 4th. Finally, Sanford C. Bernstein cut their price objective on shares of Ferrari from $554.00 to $475.00 and set an “outperform” rating on the stock in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $505.50.

About Ferrari

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.