Ferrari (NYSE:RACE) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd cut its stake in Ferrari (NYSE:RACE) by 38.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,756 shares of the company’s stock after selling 1,078 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Ferrari were worth $826,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Jennison Associates LLC increased its position in 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 purchasing an additional 2,636,869 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Ferrari by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 1,256,482 shares of the company’s stock worth $512,660,000 after buying an additional 30,014 shares during the last quarter. International Assets Investment Management LLC raised its position 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 valued at $5,551,600,000 after buying an additional 1,178,410 shares during the period. Marshall Wace LLP lifted its holdings in Ferrari by 108.4% in the second 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 during the last quarter. Finally, Clearbridge Investments LLC grew its position in Ferrari by 25.8% in the second quarter. Clearbridge Investments LLC now owns 479,135 shares of the company’s stock worth $195,664,000 after acquiring an additional 98,225 shares during the period.

Ferrari Trading Down 0.0 %

Shares of RACE stock opened at $431.57 on Thursday. Ferrari has a fifty-two week low of $330.15 and a fifty-two week high of $498.23. The company has a 50 day moving average price of $460.57 and a 200 day moving average price of $443.15. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the business earned $1.98 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. Sell-side analysts forecast that Ferrari will post 8.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RACE shares. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. Morgan Stanley boosted their price target on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Finally, Evercore ISI upped their price objective on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

About Ferrari

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.