Squarepoint Ops LLC Has $2.93 Million Position in Ferrari (NYSE:RACE)

Squarepoint Ops LLC raised its holdings in shares of Ferrari (NYSE:RACE - Free Report) by 129.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,907 shares of the company's stock after buying an additional 3,895 shares during the period. Squarepoint Ops LLC's holdings in Ferrari were worth $2,934,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in RACE. Barclays PLC lifted its position in shares of Ferrari by 6.1% in the 3rd quarter. Barclays PLC now owns 286,564 shares of the company's stock valued at $134,719,000 after acquiring an additional 16,428 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Ferrari in the 4th quarter valued at approximately $545,000. Fifth Third Bancorp lifted its position in shares of Ferrari by 9.8% in the 4th quarter. Fifth Third Bancorp now owns 393 shares of the company's stock valued at $167,000 after acquiring an additional 35 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in shares of Ferrari in the 4th quarter valued at approximately $464,000. Finally, Blue Trust Inc. lifted its position in shares of Ferrari by 41.4% in the 4th quarter. Blue Trust Inc. now owns 1,220 shares of the company's stock valued at $574,000 after acquiring an additional 357 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wall Street Zen downgraded shares of Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. JPMorgan Chase & Co. reduced their price target 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. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a "hold" rating for the company. Finally, Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $526.25.

Ferrari Stock Up 0.0%

Shares of Ferrari stock traded up $0.15 during trading on Friday, hitting $479.17. 321,594 shares of the stock traded hands, compared to its average volume of 334,313. The stock has a market cap of $116.14 billion, a P/E ratio of 52.37, a PEG ratio of 4.43 and a beta of 1.13. The company has a fifty day moving average price of $455.16 and a two-hundred day moving average price of $449.06. Ferrari has a twelve month low of $391.54 and a twelve month high of $509.13. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.

Ferrari (NYSE:RACE - Get Free Report) last posted 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. The firm had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.82 billion. Ferrari had a net margin of 22.81% and a return on equity of 46.69%. The company's revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.95 earnings per share. Equities research analysts predict that Ferrari will post 9.22 EPS 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.