Ferrari N.V. (NYSE:RACE) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its holdings in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 281,811 shares of the company's stock after selling 10,379 shares during the period. Envestnet Asset Management Inc. owned approximately 0.12% of Ferrari worth $120,380,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Park Square Financial Group LLC purchased a new stake in Ferrari during the fourth quarter worth about $32,000. Alpine Bank Wealth Management acquired a new stake in shares of Ferrari during the 1st quarter valued at approximately $33,000. Webster Bank N. A. purchased a new stake in shares of Ferrari during the 1st quarter worth approximately $43,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Ferrari in the 1st quarter worth approximately $48,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ferrari by 60.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 148 shares of the company's stock valued at $63,000 after purchasing an additional 56 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RACE. UBS Group upped their target price on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price objective on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Wall Street Zen downgraded shares of Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Ferrari has a consensus rating of "Moderate Buy" and an average price target of $526.25.

Ferrari Trading Down 0.9%

Ferrari stock traded down $4.29 during trading on Friday, reaching $493.65. The company had a trading volume of 160,649 shares, compared to its average volume of 407,744. Ferrari N.V. has a 12-month low of $391.54 and a 12-month high of $509.13. The stock's 50 day moving average price is $480.99 and its two-hundred day moving average price is $457.26. The firm has a market capitalization of $119.65 billion, a price-to-earnings ratio of 52.24, a PEG ratio of 5.58 and a beta of 1.09. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.04 and a current ratio of 5.09.

Ferrari (NYSE:RACE - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. Ferrari had a net margin of 23.00% and a return on equity of 46.46%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the firm earned $1.95 earnings per share. Ferrari's revenue was up 13.0% compared to the same quarter last year. As a group, equities analysts expect that Ferrari N.V. will post 9.22 earnings per share 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.