Boston Family Office LLC Has $274,000 Holdings in Ferrari (NYSE:RACE)

Boston Family Office LLC lessened its holdings in Ferrari (NYSE:RACE) by 7.9% in the 3rd quarter, Holdings Channel reports. The firm owned 582 shares of the company’s stock after selling 50 shares during the quarter. Boston Family Office LLC’s holdings in Ferrari were worth $274,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RACE. Jennison Associates LLC lifted its position in Ferrari by 910.1% during the 3rd 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 raised its position in shares of Ferrari by 47,023.5% during the third 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 last quarter. Marshall Wace LLP raised its position in shares of Ferrari by 108.4% during the second quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock valued at $361,961,000 after buying an additional 461,409 shares during the last quarter. Dnca Finance acquired a new position in shares of Ferrari during the second quarter valued at about $41,165,000. Finally, Assenagon Asset Management S.A. raised its position in shares of Ferrari by 904.5% during the third quarter. Assenagon Asset Management S.A. now owns 110,565 shares of the company’s stock valued at $51,968,000 after buying an additional 99,558 shares during the last quarter.

Ferrari Price Performance

Shares of Ferrari stock opened at $435.24 on Tuesday. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $80.41 billion, a price-to-earnings ratio of 50.55, a P/E/G ratio of 4.07 and a beta of 0.99. Ferrari has a 1-year low of $330.15 and a 1-year high of $498.23. The firm’s 50-day moving average price is $461.73 and its two-hundred day moving average price is $443.05.

Ferrari (NYSE:RACE) last released 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 company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the company earned $1.98 earnings per share. Ferrari’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts predict that Ferrari will post 8.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.