Dorsey & Whitney Trust CO LLC increased its holdings in shares of Ferrari (NYSE:RACE – Free Report) by 13.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,359 shares of the company’s stock after acquiring an additional 161 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Ferrari were worth $402,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. boosted its position in Ferrari by 5.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 4,125 shares of the company’s stock valued at $900,000 after buying an additional 220 shares during the last quarter. Private Advisor Group LLC raised its holdings in Ferrari by 54.8% during the 1st quarter. Private Advisor Group LLC now owns 1,553 shares of the company’s stock worth $339,000 after purchasing an additional 550 shares during the last quarter. BlackRock Inc. lifted its position in Ferrari by 3.3% during the 1st quarter. BlackRock Inc. now owns 1,066,538 shares of the company’s stock valued at $232,602,000 after purchasing an additional 33,643 shares during the period. Cibc World Market Inc. boosted its stake in shares of Ferrari by 143.3% in the 1st quarter. Cibc World Market Inc. now owns 6,983 shares of the company’s stock valued at $1,523,000 after purchasing an additional 4,113 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Ferrari by 8.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 67,953 shares of the company’s stock worth $14,820,000 after buying an additional 5,286 shares during the period.
Analyst Upgrades and Downgrades
A number of research firms have commented on RACE. HSBC lowered shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, December 13th. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. UBS Group boosted their target price on Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Evercore ISI began coverage on Ferrari in a research note on Tuesday, November 7th. They issued an “outperform” rating and a $375.00 price target for the company. Finally, BNP Paribas cut shares of Ferrari from an “outperform” rating to a “neutral” rating in a report on Wednesday, December 13th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $337.00.
Ferrari Stock Up 1.8 %
RACE opened at $378.53 on Wednesday. The company has a quick ratio of 3.08, a current ratio of 3.98 and a debt-to-equity ratio of 0.89. Ferrari has a 12 month low of $252.17 and a 12 month high of $391.42. The firm’s fifty day simple moving average is $350.18 and its 200 day simple moving average is $327.46.
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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