Sapient Capital LLC Sells 603 Shares of Ferrari (NYSE:RACE)

Sapient Capital LLC lessened its holdings in Ferrari (NYSE:RACE) by 0.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 66,669 shares of the company’s stock after selling 603 shares during the period. Sapient Capital LLC’s holdings in Ferrari were worth $31,231,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rothschild Investment LLC purchased a new stake in Ferrari in the second quarter worth about $29,000. Register Financial Advisors LLC purchased a new stake in Ferrari in the 1st quarter worth approximately $33,000. Valley Wealth Managers Inc. bought a new stake in Ferrari during the 2nd quarter worth approximately $33,000. Denver PWM LLC purchased a new position in Ferrari during the second quarter valued at approximately $35,000. Finally, Pittenger & Anderson Inc. boosted its position in shares of Ferrari by 168.6% in the first quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock worth $41,000 after purchasing an additional 59 shares during the period.

Ferrari Stock Up 1.5 %

NYSE RACE opened at $476.05 on Monday. The stock has a 50 day moving average price of $463.70 and a 200-day moving average price of $433.90. Ferrari has a one year low of $296.34 and a one year high of $498.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.32 and a current ratio of 4.35. The company has a market capitalization of $87.95 billion, a P/E ratio of 59.91, a P/E/G ratio of 4.76 and a beta of 0.99.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Thursday, August 1st. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.08. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The business’s revenue was up 16.1% on a year-over-year basis. During the same period last year, the company posted $1.99 EPS. As a group, equities analysts predict that Ferrari will post 8.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Morgan Stanley boosted their price objective on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. UBS Group lifted their target price on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $385.00 to $525.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $487.86.

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.