Ferrari (NYSE:RACE) Shares Sold by Voloridge Investment Management LLC

Voloridge Investment Management LLC decreased its holdings in shares of Ferrari (NYSE:RACE - Free Report) by 49.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,802 shares of the company's stock after selling 77,351 shares during the period. Voloridge Investment Management LLC's holdings in Ferrari were worth $33,903,000 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 recently made changes to their positions in RACE. HBK Sorce Advisory LLC lifted its holdings in Ferrari by 3.6% in the 4th quarter. HBK Sorce Advisory LLC now owns 626 shares of the company's stock valued at $266,000 after purchasing an additional 22 shares in the last quarter. Citizens Financial Group Inc. RI increased its stake in shares of Ferrari by 4.4% in the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company's stock worth $251,000 after acquiring an additional 25 shares during the last quarter. PDS Planning Inc increased its stake in shares of Ferrari by 4.8% in the 4th quarter. PDS Planning Inc now owns 589 shares of the company's stock worth $250,000 after acquiring an additional 27 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Ferrari by 10.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company's stock worth $140,000 after acquiring an additional 30 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Ferrari by 9.8% in the 4th quarter. Fifth Third Bancorp now owns 393 shares of the company's stock worth $167,000 after acquiring an additional 35 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. JPMorgan Chase & Co. cut their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating for the company. UBS Group raised their target price on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen downgraded Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $526.25.

Ferrari Trading Up 0.5%

Shares of NYSE:RACE traded up $2.36 during midday trading on Tuesday, reaching $478.58. 120,631 shares of the company's stock were exchanged, compared to its average volume of 432,174. The firm's 50 day simple moving average is $451.83 and its two-hundred day simple moving average is $448.17. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The stock has a market cap of $116.00 billion, a price-to-earnings ratio of 52.61, a P/E/G ratio of 4.43 and a beta of 1.13. Ferrari 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 issued its quarterly earnings data on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.06. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.82 billion. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The company's quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the company earned $1.95 EPS. As a group, sell-side analysts forecast that Ferrari 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.