Dakota Wealth Management Sells 591 Shares of Ferrari (NYSE:RACE)

Dakota Wealth Management cut its holdings in Ferrari (NYSE:RACE) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 39,065 shares of the company’s stock after selling 591 shares during the period. Dakota Wealth Management’s holdings in Ferrari were worth $16,597,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. E Fund Management Hong Kong Co. Ltd. purchased a new position in Ferrari in the third quarter valued at approximately $29,000. Planning Capital Management Corp purchased a new position in Ferrari in the third quarter valued at approximately $30,000. Ashton Thomas Securities LLC purchased a new position in Ferrari in the third quarter valued at approximately $33,000. FSC Wealth Advisors LLC purchased a new position in Ferrari in the third quarter valued at approximately $47,000. Finally, Hobbs Group Advisors LLC purchased a new position in Ferrari in the third quarter valued at approximately $47,000.

Analyst Ratings Changes

Several research firms recently commented on RACE. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $385.00 to $525.00 in a research note on Friday, October 11th. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Evercore ISI increased their target price on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, UBS Group increased their target price on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Stock Up 1.0 %

RACE opened at $440.21 on Wednesday. The stock has a market cap of $107.30 billion, a PE ratio of 51.13, a P/E/G ratio of 3.73 and a beta of 0.95. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a 52 week low of $330.15 and a 52 week high of $498.23. The business’s fifty day simple moving average is $434.00 and its 200 day simple moving average is $448.45.

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 analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the business posted $1.98 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, research analysts expect that Ferrari will post 8.59 earnings per share 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.