Natixis Advisors LLC Sells 8,223 Shares of Ferrari N.V. (NYSE:RACE)

by · The Cerbat Gem

Natixis Advisors LLC trimmed its position in shares of Ferrari N.V. (NYSE:RACE – Free Report) by 6.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,251 shares of the company’s stock after selling 8,223 shares during the quarter. Natixis Advisors LLC’s holdings in Ferrari were worth $49,314,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of RACE. GW&K Investment Management LLC boosted its holdings in Ferrari by 288.9% during the 1st quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock valued at $30,000 after acquiring an additional 52 shares during the period. Park Square Financial Group LLC bought a new stake in shares of Ferrari during the fourth quarter worth $32,000. Alpine Bank Wealth Management bought a new position in shares of Ferrari in the first quarter worth about $33,000. Webster Bank N. A. purchased a new position in Ferrari in the 1st quarter worth about $43,000. Finally, Cornerstone Planning Group LLC increased its stake in Ferrari by 140.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 101 shares of the company’s stock worth $45,000 after buying an additional 59 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RACE shares. UBS Group upped their target price on shares of Ferrari from $520.00 to $560.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Wall Street Zen cut Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ferrari currently has an average rating of “Moderate Buy” and a consensus target price of $526.25.

View Our Latest Stock Analysis on RACE

Ferrari Price Performance

Shares of RACE opened at $439.44 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.04 and a current ratio of 5.09. The company has a 50 day moving average price of $484.81 and a 200-day moving average price of $464.71. Ferrari N.V. has a fifty-two week low of $391.54 and a fifty-two week high of $519.10. The stock has a market capitalization of $106.51 billion, a PE ratio of 46.50, a PEG ratio of 5.47 and a beta of 1.09.

Ferrari (NYSE:RACE – Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.06. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.82 billion. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. Ferrari’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.95 earnings per share. Equities analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

About Ferrari

(Free Report)

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.

See Also

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