Ferrari (NYSE:RACE) Shares Sold by Wealth Alliance

Wealth Alliance trimmed its holdings in Ferrari (NYSE:RACE) by 5.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,223 shares of the company’s stock after selling 71 shares during the quarter. Wealth Alliance’s holdings in Ferrari were worth $520,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RACE. Jennison Associates LLC grew its position in shares of Ferrari by 910.1% during the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after acquiring an additional 2,636,869 shares during the last quarter. International Assets Investment Management LLC increased its stake in Ferrari by 47,023.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock valued at $5,551,600,000 after buying an additional 1,178,410 shares during the period. Quadrature Capital Ltd raised its position in Ferrari by 83.7% during the 3rd quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock worth $108,417,000 after buying an additional 105,390 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Ferrari by 89.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock worth $103,621,000 after acquiring an additional 104,366 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Ferrari by 904.5% in the third quarter. Assenagon Asset Management S.A. now owns 110,565 shares of the company’s stock valued at $51,968,000 after acquiring an additional 99,558 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RACE shares. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. UBS Group raised their target price on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Ferrari presently has an average rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Stock Up 1.4 %

RACE opened at $508.07 on Friday. The business’s fifty day simple moving average is $443.58 and its 200 day simple moving average is $454.12. Ferrari has a 52 week low of $393.92 and a 52 week high of $508.15. The firm has a market cap of $123.84 billion, a P/E ratio of 55.53, a PEG ratio of 4.40 and a beta of 0.95. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

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.