Ferrari N.V. (NYSE:RACE) Shares Sold by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. lowered its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 52.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,239 shares of the company's stock after selling 1,343 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Ferrari were worth $530,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

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

Ferrari Price Performance

Shares of RACE traded down $7.43 during trading hours on Friday, reaching $490.51. The company had a trading volume of 268,265 shares, compared to its average volume of 347,849. The firm has a 50 day simple moving average of $481.54 and a 200-day simple moving average of $457.81. The company has a current ratio of 5.09, a quick ratio of 4.04 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $118.89 billion, a price-to-earnings ratio of 51.91, a PEG ratio of 5.58 and a beta of 1.09. Ferrari N.V. has a 12-month low of $391.54 and a 12-month high of $509.13.

Ferrari (NYSE:RACE - Get Free Report) last announced its quarterly 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. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.82 billion. Ferrari had a net margin of 23.00% and a return on equity of 46.46%. The business's revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.95 EPS. Research analysts expect that Ferrari N.V. will post 9.22 earnings per share for the current 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.