Vontobel Holding Ltd. Trims Position in Ferrari N.V. (NYSE:RACE)

Vontobel Holding Ltd. lessened its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 15.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,942 shares of the company's stock after selling 13,661 shares during the quarter. Vontobel Holding Ltd.'s holdings in Ferrari were worth $32,231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RACE. Vanguard Group Inc. boosted its stake in shares of Ferrari by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company's stock valued at $2,002,581,000 after buying an additional 45,754 shares in the last quarter. Bank of Italy lifted its holdings in Ferrari by 2.9% in the first quarter. Bank of Italy now owns 2,407,271 shares of the company's stock valued at $1,021,078,000 after acquiring an additional 67,651 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Ferrari by 49.5% during the 4th 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. Norges Bank acquired a new position in shares of Ferrari during the 4th quarter worth $697,226,000. Finally, Marshall Wace LLP grew its stake in shares of Ferrari by 62.1% during the 4th quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock worth $579,561,000 after purchasing an additional 520,337 shares during the period.

Wall Street Analyst Weigh In

RACE has been the topic of a number of research analyst reports. UBS Group boosted their price objective on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price target on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Finally, Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $526.25.

Ferrari Price Performance

Shares of RACE traded down $1.12 during mid-day trading on Thursday, reaching $490.44. 201,602 shares of the company's stock were exchanged, compared to its average volume of 344,980. The company has a quick ratio of 4.04, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. Ferrari N.V. has a 52-week low of $391.54 and a 52-week high of $509.13. The company has a market cap of $118.87 billion, a price-to-earnings ratio of 51.90, a PEG ratio of 5.59 and a beta of 1.09. The company has a 50-day simple moving average of $477.28 and a two-hundred day simple moving average of $454.70.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.06. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the business posted $1.95 earnings per share. Ferrari's revenue was up 13.0% compared to the same quarter last year. On average, sell-side analysts predict that Ferrari N.V. will post 9.22 EPS for the current fiscal 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.