SVB Wealth LLC Has $402,000 Stock Holdings in Ferrari (NYSE:RACE)

SVB Wealth LLC trimmed its position in Ferrari (NYSE:RACE) by 14.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 921 shares of the company’s stock after selling 158 shares during the quarter. SVB Wealth LLC’s holdings in Ferrari were worth $402,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. IAG Wealth Partners LLC acquired a new stake in Ferrari in the 1st quarter valued at approximately $33,000. Register Financial Advisors LLC bought a new position in Ferrari during the first quarter worth $33,000. Pittenger & Anderson Inc. raised its stake in Ferrari by 168.6% during the 1st quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock valued at $41,000 after purchasing an additional 59 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC raised its stake in Ferrari by 320.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock valued at $35,000 after purchasing an additional 80 shares during the last quarter. Finally, Spire Wealth Management bought a new stake in Ferrari in the 1st quarter valued at $46,000.

Analyst Ratings Changes

A number of research analysts have recently commented on RACE shares. Morgan Stanley reaffirmed an “overweight” rating and set a $400.00 price objective on shares of Ferrari in a research report on Monday, April 22nd. Jefferies Financial Group assumed coverage on Ferrari in a research report on Friday, May 10th. They issued a “hold” rating and a $403.00 price objective for the company. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Evercore ISI raised their target price on Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Finally, UBS Group boosted their price target on shares of Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Ferrari presently has an average rating of “Hold” and a consensus target price of $461.67.

Ferrari Stock Up 0.5 %

Shares of RACE traded up $2.20 during trading hours on Tuesday, hitting $413.90. The stock had a trading volume of 53,962 shares, compared to its average volume of 267,981. The company’s fifty day moving average is $417.62 and its two-hundred day moving average is $408.15. The company has a quick ratio of 3.25, a current ratio of 4.18 and a debt-to-equity ratio of 0.80. Ferrari has a 52 week low of $285.02 and a 52 week high of $442.80.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Tuesday, May 7th. The company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.08. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. Ferrari had a net margin of 21.42% and a return on equity of 43.94%. On average, equities analysts anticipate that Ferrari will post 8.24 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.