Callan Capital LLC Sells 156 Shares of Ferrari (NYSE:RACE)

Callan Capital LLC decreased its stake in shares of Ferrari (NYSE:RACE) by 20.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 610 shares of the company’s stock after selling 156 shares during the period. Callan Capital LLC’s holdings in Ferrari were worth $259,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC increased its holdings 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 valued at $1,368,622,000 after acquiring an additional 2,636,869 shares in the last quarter. Quadrature Capital Ltd increased its stake in Ferrari by 83.7% during the 3rd quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock valued at $108,417,000 after purchasing an additional 105,390 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Ferrari by 89.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock valued at $103,621,000 after purchasing an additional 104,366 shares in the last quarter. Temasek Holdings Private Ltd purchased a new position in Ferrari in the third quarter worth about $43,801,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Ferrari by 101.2% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 155,900 shares of the company’s stock worth $73,290,000 after buying an additional 78,400 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group increased 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. Barclays lowered 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 shares of Ferrari in a report on Thursday, February 6th. They set a “hold” rating for the company. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Stock Down 0.8 %

Shares of RACE opened at $503.88 on Monday. Ferrari has a 52-week low of $399.27 and a 52-week high of $508.20. The company has a market cap of $122.82 billion, a PE ratio of 55.07, a P/E/G ratio of 4.43 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. The business has a fifty day moving average of $444.58 and a 200 day moving average of $455.21.

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.