Sanctuary Advisors LLC Cuts Position in Ferrari (NYSE:RACE)

Sanctuary Advisors LLC lowered its stake in shares of Ferrari (NYSE:RACE) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,798 shares of the company’s stock after selling 123 shares during the period. Sanctuary Advisors LLC’s holdings in Ferrari were worth $5,941,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sapient Capital LLC raised its position in Ferrari by 1.0% during the fourth quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock worth $28,737,000 after acquiring an additional 653 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Ferrari by 14.0% during the 3rd quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock worth $12,653,000 after purchasing an additional 3,308 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Ferrari by 156.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,400 shares of the company’s stock worth $2,731,000 after purchasing an additional 3,900 shares during the last quarter. Miracle Mile Advisors LLC lifted its stake in Ferrari by 123.9% in the 4th quarter. Miracle Mile Advisors LLC now owns 9,005 shares of the company’s stock valued at $3,826,000 after buying an additional 4,983 shares in the last quarter. Finally, Mediolanum International Funds Ltd lifted its stake in Ferrari by 24.7% in the 4th quarter. Mediolanum International Funds Ltd now owns 9,071 shares of the company’s stock valued at $3,874,000 after buying an additional 1,796 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RACE. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. UBS Group boosted their target price on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Price Performance

RACE opened at $500.59 on Thursday. Ferrari has a 1 year low of $389.34 and a 1 year high of $508.03. The company’s 50 day simple moving average is $442.46 and its 200 day simple moving average is $453.75. The stock has a market capitalization of $122.02 billion, a PE ratio of 54.71, a P/E/G ratio of 4.40 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.

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.