Blue Trust Inc. Sells 538 Shares of Ferrari (NYSE:RACE)

Blue Trust Inc. reduced its position in shares of Ferrari (NYSE:RACE) by 62.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325 shares of the company’s stock after selling 538 shares during the period. Blue Trust Inc.’s holdings in Ferrari were worth $138,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC increased its holdings in shares of Ferrari by 910.1% during the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after buying an additional 2,636,869 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Ferrari by 47,023.5% during the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock worth $5,551,600,000 after buying an additional 1,178,410 shares in the last quarter. Quadrature Capital Ltd increased its holdings in shares of Ferrari by 83.7% during the third quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock worth $108,417,000 after buying an additional 105,390 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Ferrari by 89.9% during the third quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock worth $103,621,000 after buying an additional 104,366 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Ferrari by 904.5% during the third quarter. Assenagon Asset Management S.A. now owns 110,565 shares of the company’s stock worth $51,968,000 after buying an additional 99,558 shares in the last quarter.

Ferrari Stock Up 1.4 %

RACE opened at $508.07 on Friday. 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 1-year low of $393.92 and a 1-year high of $508.15. The company has a market capitalization of $123.84 billion, a PE ratio of 55.53, a PEG ratio of 4.40 and a beta of 0.95. The firm’s 50 day simple moving average is $443.58 and its two-hundred day simple moving average is $454.12.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RACE. UBS Group increased their price objective on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a report on Thursday, February 6th. They issued a “hold” rating for the company. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Company 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.