Ferrari (NYSE:RACE) Shares Sold by Wealth Alliance

Wealth Alliance decreased its holdings in Ferrari (NYSE:RACE) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,223 shares of the company’s stock after selling 71 shares during the period. Wealth Alliance’s holdings in Ferrari were worth $520,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Good Life Advisors LLC grew its position in shares of Ferrari by 36.3% in the fourth quarter. Good Life Advisors LLC now owns 1,495 shares of the company’s stock valued at $635,000 after purchasing an additional 398 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in Ferrari in the 4th quarter valued at $45,000. Pittenger & Anderson Inc. increased its stake in shares of Ferrari by 53.2% in the 4th quarter. Pittenger & Anderson Inc. now owns 144 shares of the company’s stock worth $61,000 after acquiring an additional 50 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Ferrari by 35.1% during the 4th quarter. Allworth Financial LP now owns 327 shares of the company’s stock worth $141,000 after acquiring an additional 85 shares during the period. Finally, Marks Group Wealth Management Inc boosted its position in shares of Ferrari by 16.1% during the 4th quarter. Marks Group Wealth Management Inc now owns 1,822 shares of the company’s stock valued at $774,000 after acquiring an additional 253 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Ferrari Price Performance

RACE stock opened at $508.07 on Friday. Ferrari has a 1 year low of $393.92 and a 1 year high of $508.15. The firm has a market capitalization of $123.84 billion, a P/E ratio of 55.53, a P/E/G ratio of 4.40 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The business’s 50-day moving average is $443.58 and its two-hundred day moving average is $454.12.

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.