13,672 Ferrari N.V. $RACE Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC decreased its holdings in shares of Ferrari N.V. (NYSE:RACE) by 55.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 10,983 shares of the company’s stock after selling 13,672 shares during the period. Cornerstone Advisors LLC’s holdings in Ferrari were worth $4,315,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Anchor Investment Management LLC increased its holdings in Ferrari by 1,625.0% in the 2nd quarter. Anchor Investment Management LLC now owns 69 shares of the company’s stock worth $26,000 after acquiring an additional 65 shares in the last quarter. Gen Wealth Partners Inc acquired a new position in Ferrari during the third quarter worth $31,000. Provenance Wealth Advisors LLC acquired a new position in Ferrari during the third quarter worth $39,000. Grove Bank & Trust raised its position in Ferrari by 51.5% during the third quarter. Grove Bank & Trust now owns 100 shares of the company’s stock worth $39,000 after acquiring an additional 34 shares during the period. Finally, William Mack & Associates Inc. purchased a new position in Ferrari during the third quarter valued at $40,000.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of Ferrari in a research report on Monday, August 17th. Berenberg Bank reissued a “buy” rating on shares of Ferrari in a research note on Monday, September 28th. Royal Bank Of Canada restated a “buy” rating on shares of Ferrari in a research report on Monday, September 21st. UBS Group decreased their price target on shares of Ferrari from $490.00 to $450.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. Finally, Barclays reiterated a “buy” rating on shares of Ferrari in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Ferrari currently has an average rating of “Moderate Buy” and a consensus price target of $456.71.

Ferrari Stock Up 1.3%

Shares of RACE opened at $410.69 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.81 and a current ratio of 4.94. Ferrari N.V. has a one year low of $312.51 and a one year high of $437.15. The stock has a market capitalization of $96.08 billion, a price-to-earnings ratio of 37.06, a PEG ratio of 3.62 and a beta of 0.89. The stock has a 50 day moving average price of $402.63 and a 200 day moving average price of $372.95.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $2.76 EPS for the quarter, beating the consensus estimate of $2.66 by $0.10. The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. Ferrari had a return on equity of 43.71% and a net margin of 22.55%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.14 EPS. Equities research analysts forecast that Ferrari N.V. will post 11.17 earnings per share for the current fiscal year.

Ferrari Profile

Ferrari N.V. designs, manufactures and sells luxury sports cars under the Ferrari brand. Based in Maranello, Italy, the company offers a range of road cars, including series-production models, special-series vehicles and limited-edition cars, with customization options for clients. Ferrari also operates a motorsports business centered on its racing heritage. Scuderia Ferrari competes in Formula One and other racing series, while the company organizes customer racing programs and events. In addition to cars and racing, Ferrari develops and licenses branded merchandise and lifestyle products.