Ferrari N.V. $RACE Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lowered its position in Ferrari N.V. (NYSE:RACE) by 66.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,690 shares of the company’s stock after selling 3,392 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Ferrari were worth $820,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Callan Family Office LLC raised its position in Ferrari by 58.5% in the 2nd quarter. Callan Family Office LLC now owns 4,378 shares of the company’s stock valued at $2,148,000 after purchasing an additional 1,615 shares during the last quarter. Generali Asset Management SPA SGR increased its stake in Ferrari by 28.9% in the third quarter. Generali Asset Management SPA SGR now owns 55,690 shares of the company’s stock valued at $27,022,000 after purchasing an additional 12,485 shares during the period. TD Asset Management Inc increased its stake in Ferrari by 1.1% in the second quarter. TD Asset Management Inc now owns 415,850 shares of the company’s stock valued at $203,677,000 after purchasing an additional 4,434 shares during the period. Rheos Capital Works Inc. raised its holdings in shares of Ferrari by 33.1% in the third quarter. Rheos Capital Works Inc. now owns 215,200 shares of the company’s stock valued at $104,419,000 after buying an additional 53,500 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Ferrari by 26.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,599 shares of the company’s stock worth $5,205,000 after buying an additional 2,220 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have commented on RACE shares. Hsbc Global Res downgraded Ferrari from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 13th. The Goldman Sachs Group upgraded Ferrari to a “strong-buy” rating in a research note on Monday, November 24th. Barclays set a $420.00 price target on Ferrari and gave the stock an “overweight” rating in a report on Tuesday, December 9th. Evercore ISI dropped their price objective on shares of Ferrari from $580.00 to $475.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Finally, Citigroup cut their price objective on shares of Ferrari from $579.00 to $529.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $480.67.

Ferrari Trading Up 1.0%

Shares of RACE stock opened at $336.57 on Tuesday. The business’s fifty day moving average price is $366.42 and its 200 day moving average price is $420.45. Ferrari N.V. has a 1-year low of $331.01 and a 1-year high of $519.10. The firm has a market capitalization of $81.58 billion, a PE ratio of 34.00, a P/E/G ratio of 3.62 and a beta of 0.99. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.90 and a quick ratio of 3.78.

Ferrari (NYSE:RACE) last released its earnings results on Tuesday, November 4th. The company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.15. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.94 billion. Ferrari had a return on equity of 44.20% and a net margin of 22.65%. As a group, sell-side analysts forecast that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Ferrari Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.