Ferrari (NYSE:RACE) Stake Lessened by Vontobel Holding Ltd.

Vontobel Holding Ltd. trimmed its stake in shares of Ferrari (NYSE:RACE) by 31.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,603 shares of the company’s stock after selling 40,375 shares during the quarter. Vontobel Holding Ltd.’s holdings in Ferrari were worth $38,246,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in RACE. Jennison Associates LLC raised its stake in shares of Ferrari by 910.1% in the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after purchasing an additional 2,636,869 shares in the last quarter. Bank of Italy increased its holdings in Ferrari by 2.8% in the fourth quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock valued at $1,002,392,000 after buying an additional 63,675 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Ferrari by 47,023.5% in 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. Swiss National Bank raised its stake in Ferrari by 0.5% during the third quarter. Swiss National Bank now owns 377,857 shares of the company’s stock valued at $177,157,000 after buying an additional 1,914 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Ferrari by 6.1% during the 3rd quarter. Barclays PLC now owns 286,564 shares of the company’s stock worth $134,719,000 after buying an additional 16,428 shares during the last quarter.

Ferrari Price Performance

Shares of NYSE:RACE opened at $490.66 on Friday. The firm’s 50 day moving average is $437.42 and its two-hundred day moving average is $450.86. The firm has a market capitalization of $119.60 billion, a P/E ratio of 53.62, a PEG ratio of 4.04 and a beta of 0.95. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 52 week low of $378.80 and a 52 week high of $498.23.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RACE. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research report on Thursday, February 6th. They set a “hold” rating on the stock. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. UBS Group lifted their price target on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Evercore ISI increased their price objective on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Ferrari presently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

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.