Legacy Wealth Asset Management LLC Sells 213 Shares of Ferrari (NYSE:RACE)

Legacy Wealth Asset Management LLC decreased its stake in shares of Ferrari (NYSE:RACE) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,410 shares of the company’s stock after selling 213 shares during the quarter. Ferrari accounts for about 0.7% of Legacy Wealth Asset Management LLC’s investment portfolio, making the stock its 22nd biggest position. Legacy Wealth Asset Management LLC’s holdings in Ferrari were worth $2,543,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in RACE. International Assets Investment Management LLC increased its holdings in shares of Ferrari by 47,023.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock worth $5,551,600,000 after purchasing an additional 1,178,410 shares during the period. Capital International Investors increased its holdings in shares of Ferrari by 314.3% during the 1st quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock worth $454,792,000 after purchasing an additional 791,596 shares during the period. Marshall Wace LLP boosted its position in shares of Ferrari by 108.4% during the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock valued at $361,961,000 after acquiring an additional 461,409 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Ferrari by 6,024.9% during the 1st quarter. Clearbridge Investments LLC now owns 380,910 shares of the company’s stock valued at $166,054,000 after acquiring an additional 374,691 shares in the last quarter. Finally, Capital World Investors boosted its position in shares of Ferrari by 34.3% during the 1st quarter. Capital World Investors now owns 962,583 shares of the company’s stock valued at $419,547,000 after acquiring an additional 245,872 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RACE shares. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $385.00 to $525.00 in a research report on Friday, October 11th. Evercore ISI lifted their target price on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley lifted their target price on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Ferrari has a consensus rating of “Moderate Buy” and an average price target of $502.14.

Ferrari Stock Down 0.4 %

NYSE:RACE opened at $484.62 on Friday. Ferrari has a 12 month low of $296.34 and a 12 month high of $498.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.32 and a current ratio of 4.35. The company’s 50-day moving average price is $472.78 and its two-hundred day moving average price is $437.17.

Ferrari (NYSE:RACE) last announced its earnings results on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.08. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the business earned $1.99 earnings per share. Ferrari’s quarterly revenue was up 16.1% on a year-over-year basis. Equities analysts predict that Ferrari will post 8.65 EPS for the current year.

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.