Ferrari (NYSE:RACE) Shares Sold by Arosa Capital Management LP

Arosa Capital Management LP lessened its holdings in Ferrari (NYSE:RACE) by 16.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,600 shares of the company’s stock after selling 1,300 shares during the quarter. Ferrari makes up about 1.2% of Arosa Capital Management LP’s investment portfolio, making the stock its 18th largest holding. Arosa Capital Management LP’s holdings in Ferrari were worth $3,103,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of RACE. Jennison Associates LLC grew its position in Ferrari by 910.1% in the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after purchasing an additional 2,636,869 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Ferrari by 2.4% during the second quarter. Legal & General Group Plc now owns 1,256,482 shares of the company’s stock worth $512,660,000 after buying an additional 30,014 shares during the period. International Assets Investment Management LLC grew its holdings in Ferrari by 47,023.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock worth $5,551,600,000 after buying an additional 1,178,410 shares in the last quarter. Marshall Wace LLP increased its position in Ferrari by 108.4% in the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock valued at $361,961,000 after acquiring an additional 461,409 shares during the period. Finally, Clearbridge Investments LLC raised its stake in Ferrari by 25.8% during the 2nd quarter. Clearbridge Investments LLC now owns 479,135 shares of the company’s stock valued at $195,664,000 after acquiring an additional 98,225 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI boosted their target price on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and increased their price target for the company from $385.00 to $525.00 in a research note on Friday, October 11th. UBS Group upped their price objective on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley lifted their target price on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Stock Up 0.6 %

RACE stock opened at $434.16 on Monday. The firm has a 50-day moving average of $459.00 and a two-hundred day moving average of $443.68. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a one year low of $330.15 and a one year high of $498.23.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.03). The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.98 earnings per share. On average, research analysts expect that Ferrari will post 8.58 EPS 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.