Greenleaf Trust Sells 40 Shares of Ferrari (NYSE:RACE)

Greenleaf Trust reduced its position in shares of Ferrari (NYSE:RACE) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,118 shares of the company’s stock after selling 40 shares during the period. Greenleaf Trust’s holdings in Ferrari were worth $996,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in RACE. Vanguard Group Inc. lifted its holdings in Ferrari by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 4,549,934 shares of the company’s stock worth $1,983,498,000 after buying an additional 61,588 shares during the period. Capital Research Global Investors lifted its stake in shares of Ferrari by 3.9% in the first quarter. Capital Research Global Investors now owns 1,329,714 shares of the company’s stock worth $579,585,000 after acquiring an additional 49,367 shares during the period. Legal & General Group Plc boosted its holdings in Ferrari by 2.4% in the second quarter. Legal & General Group Plc now owns 1,256,482 shares of the company’s stock valued at $512,660,000 after acquiring an additional 30,014 shares during the last quarter. Capital International Investors increased its position in Ferrari by 314.3% during the 1st quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock valued at $454,792,000 after purchasing an additional 791,596 shares during the period. Finally, Capital World Investors raised its holdings in Ferrari by 34.3% during the 1st quarter. Capital World Investors now owns 962,583 shares of the company’s stock worth $419,547,000 after purchasing an additional 245,872 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and upped their price target for the company from $385.00 to $525.00 in a research report on Friday, October 11th. Morgan Stanley lifted their price objective on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Evercore ISI boosted their price objective on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $502.14.

Ferrari Stock Up 0.8 %

Shares of NYSE:RACE opened at $486.43 on Friday. Ferrari has a twelve month low of $296.34 and a twelve month high of $498.23. The stock’s 50 day moving average is $472.13 and its 200-day moving average is $436.82. The company has a quick ratio of 3.32, a current ratio of 4.35 and a debt-to-equity ratio of 1.01.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Thursday, August 1st. The company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.08. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.63 billion. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the firm earned $1.99 earnings per share. As a group, equities research analysts predict that Ferrari will post 8.65 EPS for the current fiscal year.

About Ferrari

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.