UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stock Position in Ferrari (NYSE:RACE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Ferrari (NYSE:RACE - Free Report) by 25.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,740 shares of the company's stock after selling 56,898 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.07% of Ferrari worth $72,537,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Ferrari in the 4th quarter worth approximately $697,226,000. Price T Rowe Associates Inc. MD boosted its position in Ferrari by 49.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock worth $763,125,000 after purchasing an additional 594,547 shares in the last quarter. Barclays PLC grew its holdings in Ferrari by 198.0% in the fourth quarter. Barclays PLC now owns 853,971 shares of the company's stock valued at $362,802,000 after purchasing an additional 567,407 shares during the last quarter. Marshall Wace LLP increased its position in shares of Ferrari by 62.1% in the fourth quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock valued at $579,561,000 after buying an additional 520,337 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Ferrari by 380.7% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company's stock worth $107,770,000 after buying an additional 192,694 shares during the last quarter.

Analyst Upgrades and Downgrades

RACE has been the topic of several research reports. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. UBS Group increased their target price on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research report on Thursday, February 6th. They set a "hold" rating for the company. JPMorgan Chase & Co. reduced their price objective on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Finally, Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $526.25.

Ferrari Trading Down 1.7%

RACE traded down $8.16 during trading on Wednesday, hitting $475.31. The company's stock had a trading volume of 278,627 shares, compared to its average volume of 333,595. Ferrari has a twelve month low of $391.54 and a twelve month high of $509.13. The stock has a market cap of $115.20 billion, a PE ratio of 51.95, a PEG ratio of 4.43 and a beta of 1.13. The firm's 50 day moving average price is $452.60 and its 200-day moving average price is $448.40. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.

Ferrari (NYSE:RACE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the business earned $1.95 earnings per share. The business's revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts expect that Ferrari will post 9.22 earnings per share for the current 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.