Douglas Lane & Associates LLC Sells 1,572 Shares of Ferrari (NYSE:RACE)

Douglas Lane & Associates LLC cut its holdings in shares of Ferrari (NYSE:RACE - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,461 shares of the company's stock after selling 1,572 shares during the period. Douglas Lane & Associates LLC's holdings in Ferrari were worth $46,836,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Park Square Financial Group LLC acquired a new position in shares of Ferrari during the fourth quarter worth approximately $32,000. Webster Bank N. A. acquired a new stake in shares of Ferrari during the 1st quarter valued at $43,000. Kestra Investment Management LLC acquired a new stake in shares of Ferrari during the 4th quarter valued at $45,000. Plato Investment Management Ltd purchased a new position in shares of Ferrari during the 4th quarter valued at $53,000. Finally, Newbridge Financial Services Group Inc. grew its holdings in shares of Ferrari by 705.9% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company's stock valued at $58,000 after acquiring an additional 120 shares in the last quarter.

Ferrari Price Performance

Shares of RACE stock traded up $1.29 during trading hours on Thursday, reaching $482.25. The stock had a trading volume of 134,532 shares, compared to its average volume of 335,403. The stock's fifty day simple moving average is $458.48 and its 200 day simple moving average is $449.93. 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 12 month low of $391.54 and a 12 month high of $509.13. The firm has a market capitalization of $116.89 billion, a PE ratio of 52.68, a PEG ratio of 4.43 and a beta of 1.13.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. Ferrari had a net margin of 22.81% and a return on equity of 46.69%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the business earned $1.95 earnings per share. Ferrari's revenue was up 13.0% compared to the same quarter last year. On average, equities research analysts predict that Ferrari will post 9.22 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on RACE. JPMorgan Chase & Co. lowered their price target on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. UBS Group increased their price target on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Wall Street Zen cut shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a "hold" rating on the stock. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $526.25.

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.