Wealth Alliance cut its position in Ferrari (NYSE:RACE – Free Report) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 971 shares of the company’s stock after selling 45 shares during the period. Wealth Alliance’s holdings in Ferrari were worth $287,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Ferrari in the 2nd quarter valued at about $33,000. Sunbelt Securities Inc. acquired a new stake in shares of Ferrari in the 1st quarter valued at about $39,000. State of Wyoming acquired a new stake in shares of Ferrari in the 4th quarter valued at about $38,000. EverSource Wealth Advisors LLC grew its stake in shares of Ferrari by 30.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 177 shares of the company’s stock valued at $58,000 after buying an additional 41 shares during the period. Finally, RFP Financial Group LLC acquired a new stake in shares of Ferrari in the 2nd quarter valued at about $65,000.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. UBS Group raised their target price on Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. BNP Paribas downgraded Ferrari from an “outperform” rating to a “neutral” rating in a research note on Wednesday, December 13th. HSBC downgraded Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, December 13th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 6th. Finally, Evercore ISI began coverage on Ferrari in a research note on Tuesday, November 7th. They set an “outperform” rating and a $375.00 price target for the company. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ferrari currently has an average rating of “Hold” and a consensus target price of $337.00.
Ferrari Stock Performance
Shares of NYSE RACE opened at $392.56 on Monday. Ferrari has a twelve month low of $252.17 and a twelve month high of $393.59. The stock’s 50 day moving average price is $351.70 and its 200-day moving average price is $328.92. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.08 and a current ratio of 3.98.
Ferrari Company 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.
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