Northwestern Mutual Wealth Management Co. Sells 11,753 Shares of Ferrari N.V. $RACE

Northwestern Mutual Wealth Management Co. reduced its position in shares of Ferrari N.V. (NYSE:RACE) by 37.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,918 shares of the company’s stock after selling 11,753 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Ferrari were worth $7,361,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RACE. AQR Capital Management LLC lifted its holdings in Ferrari by 78.9% during the 1st quarter. AQR Capital Management LLC now owns 3,568 shares of the company’s stock valued at $1,527,000 after purchasing an additional 1,574 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ferrari by 31.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company’s stock valued at $82,000 after purchasing an additional 46 shares during the last quarter. Woodline Partners LP bought a new position in shares of Ferrari in the first quarter worth about $1,519,000. Sivia Capital Partners LLC raised its stake in shares of Ferrari by 67.5% in the second quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock worth $448,000 after acquiring an additional 368 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Ferrari by 7.5% in the second quarter. Rhumbline Advisers now owns 1,370 shares of the company’s stock worth $672,000 after acquiring an additional 96 shares during the last quarter.

Analyst Upgrades and Downgrades

RACE has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferrari in a research note on Wednesday, February 11th. Zacks Research raised shares of Ferrari from a “strong sell” rating to a “hold” rating in a research note on Monday, February 2nd. UBS Group dropped their target price on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Finally, Citigroup raised shares of Ferrari from a “sell” rating to a “neutral” rating in a research note on Thursday, February 12th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $469.06.

Ferrari Stock Down 0.4%

Shares of NYSE:RACE opened at $348.09 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.20 and a quick ratio of 4.08. The stock has a market cap of $81.43 billion, a price-to-earnings ratio of 33.40, a P/E/G ratio of 3.32 and a beta of 0.95. The company has a 50 day moving average of $339.67 and a 200-day moving average of $360.06. Ferrari N.V. has a one year low of $312.51 and a one year high of $519.10.

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.