Metis Global Partners LLC Sells 253 Shares of Ferrari (NYSE:RACE)

Metis Global Partners LLC lowered its position in Ferrari (NYSE:RACE) by 6.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,407 shares of the company’s stock after selling 253 shares during the period. Metis Global Partners LLC’s holdings in Ferrari were worth $1,592,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of RACE. Rothschild Investment LLC purchased a new position in shares of Ferrari in the second quarter worth $29,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Ferrari in the 3rd quarter valued at $29,000. Planning Capital Management Corp purchased a new stake in Ferrari in the 3rd quarter worth $30,000. Valley Wealth Managers Inc. bought a new position in shares of Ferrari during the 2nd quarter valued at about $33,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Ferrari during the third quarter valued at about $33,000.

Wall Street Analyst Weigh In

A number of research firms recently commented on RACE. Morgan Stanley boosted their target price on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Evercore ISI boosted their price target on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $385.00 to $525.00 in a research report on Friday, October 11th. Finally, UBS Group boosted their target price on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Price Performance

Ferrari stock opened at $430.99 on Friday. Ferrari has a 12-month low of $330.15 and a 12-month high of $498.23. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The firm has a 50-day moving average price of $466.22 and a 200-day moving average price of $442.00. The firm has a market capitalization of $79.63 billion, a PE ratio of 50.06, a price-to-earnings-growth ratio of 4.62 and a beta of 0.99.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.03). The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.98 EPS. As a group, equities research analysts forecast that Ferrari will post 8.75 EPS for the current year.

Ferrari 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.