Ferrari (NYSE:RACE) Shares Sold by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. cut its stake in Ferrari (NYSE:RACE - Free Report) by 15.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,436 shares of the company's stock after selling 613 shares during the period. Redhawk Wealth Advisors Inc.'s holdings in Ferrari were worth $1,470,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new stake in Ferrari in the 4th quarter valued at $32,000. Webster Bank N. A. purchased a new stake in shares of Ferrari in the first quarter valued at about $43,000. Kestra Investment Management LLC purchased a new position in shares of Ferrari during the fourth quarter worth about $45,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Ferrari in the 1st quarter valued at about $48,000. Finally, Plato Investment Management Ltd purchased a new stake in Ferrari during the 4th quarter valued at approximately $53,000.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RACE shares. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. UBS Group lifted 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. Wall Street Zen cut shares of Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $526.25.

Ferrari Price Performance

Shares of RACE traded down $6.15 during trading hours on Thursday, reaching $476.24. The company had a trading volume of 225,623 shares, compared to its average volume of 337,351. 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 50 day simple moving average of $463.81 and a 200-day simple moving average of $451.66. The company has a market capitalization of $115.43 billion, a price-to-earnings ratio of 52.05, a PEG ratio of 4.43 and a beta of 1.10.

Ferrari (NYSE:RACE - Get Free Report) last posted 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 company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.82 billion. Ferrari had a net margin of 22.81% and a return on equity of 46.69%. The company's revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the firm earned $1.95 EPS. Research analysts expect that Ferrari 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.