Prime Capital Investment Advisors LLC raised its position in Ferrari (NYSE:RACE – Free Report) by 5.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,135 shares of the company’s stock after purchasing an additional 60 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Ferrari were worth $534,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Jamison Private Wealth Management Inc. boosted its position in Ferrari by 27.2% during the third quarter. Jamison Private Wealth Management Inc. now owns 103 shares of the company’s stock valued at $48,000 after acquiring an additional 22 shares during the last quarter. Contravisory Investment Management Inc. lifted its stake in Ferrari by 4.6% in the second quarter. Contravisory Investment Management Inc. now owns 518 shares of the company’s stock valued at $212,000 after buying an additional 23 shares during the period. First Citizens Bank & Trust Co. grew its position in shares of Ferrari by 3.3% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 787 shares of the company’s stock worth $321,000 after buying an additional 25 shares during the period. Columbia Asset Management increased its stake in shares of Ferrari by 1.8% in the 2nd quarter. Columbia Asset Management now owns 1,425 shares of the company’s stock valued at $582,000 after acquiring an additional 25 shares in the last quarter. Finally, Addison Advisors LLC lifted its position in shares of Ferrari by 13.6% during the 3rd quarter. Addison Advisors LLC now owns 217 shares of the company’s stock valued at $102,000 after acquiring an additional 26 shares during the period.
Ferrari Stock Down 2.1 %
Shares of RACE stock opened at $430.99 on Friday. Ferrari has a 52-week low of $330.15 and a 52-week high of $498.23. The company has a 50-day simple moving average of $467.02 and a two-hundred day simple moving average of $441.95. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on RACE. StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Evercore ISI upped their price target on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Morgan Stanley raised their price objective on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. UBS Group upped their target price on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $385.00 to $525.00 in a research report on Friday, October 11th. One equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $507.14.
View Our Latest Stock Report on Ferrari
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.
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