Ferrari (NYSE:RACE) Shares Sold by Symmetry Investments LP

Symmetry Investments LP lessened its stake in Ferrari (NYSE:RACE) by 33.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,000 shares of the company’s stock after selling 4,100 shares during the quarter. Symmetry Investments LP’s holdings in Ferrari were worth $3,267,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rothschild Investment LLC acquired a new position in Ferrari in the second quarter worth $29,000. Register Financial Advisors LLC bought a new position in shares of Ferrari in the 1st quarter worth about $33,000. Valley Wealth Managers Inc. bought a new position in shares of Ferrari in the 2nd quarter worth about $33,000. Denver PWM LLC acquired a new position in shares of Ferrari in the 2nd quarter valued at about $35,000. Finally, Pittenger & Anderson Inc. grew its position in shares of Ferrari by 168.6% during the 1st quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock valued at $41,000 after buying an additional 59 shares during the last quarter.

Ferrari Stock Down 0.7 %

Shares of NYSE RACE opened at $470.56 on Friday. The firm’s 50-day simple moving average is $450.52 and its 200 day simple moving average is $429.95. Ferrari has a fifty-two week low of $285.02 and a fifty-two week high of $498.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.32 and a current ratio of 4.35.

Ferrari (NYSE:RACE) last released its earnings results on Thursday, August 1st. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.21 by $0.08. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. Ferrari’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the company earned $1.99 EPS. On average, equities research analysts predict that Ferrari will post 8.71 EPS for the current year.

Analysts Set New Price Targets

RACE has been the subject of a number of research reports. Morgan Stanley lifted their target price on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. UBS Group increased their target price on Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $481.67.

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.