GF Fund Management CO. LTD. Sells 12,609 Shares of Ferrari N.V. (NYSE:RACE)

GF Fund Management CO. LTD. lowered its position in Ferrari N.V. (NYSE:RACE - Free Report) by 47.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,067 shares of the company's stock after selling 12,609 shares during the quarter. GF Fund Management CO. LTD.'s holdings in Ferrari were worth $6,019,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Park Square Financial Group LLC purchased a new stake in Ferrari during the 4th quarter worth approximately $32,000. Alpine Bank Wealth Management bought a new position in Ferrari in the 1st quarter worth approximately $33,000. Webster Bank N. A. bought a new stake in shares of Ferrari during the first quarter valued at about $43,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Ferrari in the first quarter valued at approximately $48,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Ferrari by 60.9% during 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 Analyst Weigh In

RACE has been the subject of a number of recent analyst reports. UBS Group increased their price target on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. JPMorgan Chase & Co. reduced their price target on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Finally, Wall Street Zen downgraded Ferrari from a "buy" rating to a "hold" rating in a research note 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.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $526.25.

Ferrari Price Performance

RACE stock traded down $1.12 during trading on Friday, hitting $490.44. The company had a trading volume of 201,602 shares, compared to its average volume of 344,980. The company has a market cap of $118.87 billion, a P/E ratio of 51.90, a P/E/G ratio of 5.58 and a beta of 1.09. 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 fifty day moving average price of $478.56 and a two-hundred day moving average price of $455.47. Ferrari N.V. has a fifty-two week low of $391.54 and a fifty-two week high of $509.13.

Ferrari (NYSE:RACE - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. 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 company posted $1.95 earnings per share. The firm's quarterly revenue was up 13.0% compared to the same quarter last year. Equities research analysts expect that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

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.