Natixis Advisors LLC Cuts Stock Holdings in Ferrari N.V. (NYSE:RACE)

Key Points

• Natixis Advisors LLC has reduced its stock holdings in Ferrari N.V. by 6.7%, selling 8,223 shares during the first quarter, bringing their total to 115,251 shares valued at approximately $49.3 million.
• Several large investors made notable moves; Mesirow Financial Investment Management increased its position by 18.9%, while University of Chicago and Banque Cantonale Vaudoise established new holdings valued at $321,000 and $712,000, respectively.
• Ferrari's earnings report showed an EPS of $2.42, beating expectations, with revenue up 13% year-over-year at $1.94 billion.

Natixis Advisors LLC decreased its holdings in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 6.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,251 shares of the company's stock after selling 8,223 shares during the quarter. Natixis Advisors LLC's holdings in Ferrari were worth $49,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bridgewater Advisors Inc. bought a new stake in shares of Ferrari in the first quarter worth about $492,000. Zurich Insurance Group Ltd FI grew its position in shares of Ferrari by 13.2% during the 4th quarter. Zurich Insurance Group Ltd FI now owns 79,796 shares of the company's stock valued at $34,042,000 after acquiring an additional 9,274 shares during the period. Russell Investments Group Ltd. boosted its holdings in Ferrari by 2.6% in the 4th quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company's stock worth $54,847,000 after buying an additional 3,277 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Ferrari by 2.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 85,614 shares of the company's stock worth $36,271,000 after buying an additional 2,144 shares during the period. Finally, National Bank of Canada FI lifted its stake in Ferrari by 144.3% in the 4th quarter. National Bank of Canada FI now owns 5,638 shares of the company's stock worth $2,400,000 after purchasing an additional 3,330 shares in the last quarter.

Analyst Ratings Changes

RACE has been the subject of several recent analyst reports. Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Cfra Research downgraded Ferrari from a "hold" rating to a "moderate sell" rating in a research report on Thursday. Finally, UBS Group increased their price objective on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $526.25.

Ferrari Trading Down 1.5%

NYSE RACE traded down $6.85 on Friday, reaching $436.54. The stock had a trading volume of 1,677,924 shares, compared to its average volume of 382,362. Ferrari N.V. has a 12-month low of $391.54 and a 12-month high of $519.10. The stock has a fifty day moving average price of $484.02 and a two-hundred day moving average price of $465.04. The company has a quick ratio of 4.04, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $105.81 billion, a price-to-earnings ratio of 45.05, a P/E/G ratio of 4.78 and a beta of 1.09.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, beating analysts' consensus estimates of $2.57 by $0.13. Ferrari had a return on equity of 46.22% and a net margin of 22.95%. The company had revenue of $2.12 billion for the quarter, compared to analysts' expectations of $2.05 billion. During the same period last year, the firm earned $2.29 earnings per share. Ferrari's quarterly revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts forecast that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Ferrari Company 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.