Ferrari N.V. (RACE) Position Decreased by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its stake in Ferrari N.V. (NYSE:RACE) by 84.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,510 shares of the company’s stock after selling 72,482 shares during the period. Russell Investments Group Ltd.’s holdings in Ferrari N.V. were worth $1,160,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Ferrari N.V. by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 3,104,885 shares of the company’s stock valued at $230,879,000 after acquiring an additional 120,305 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Ferrari N.V. by 102.8% in the 1st quarter. JPMorgan Chase & Co. now owns 1,830,812 shares of the company’s stock valued at $136,139,000 after acquiring an additional 928,230 shares in the last quarter. Credit Suisse AG raised its stake in shares of Ferrari N.V. by 44.4% in the 1st quarter. Credit Suisse AG now owns 1,038,800 shares of the company’s stock valued at $77,246,000 after acquiring an additional 319,185 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Ferrari N.V. by 272.9% in the 1st quarter. AQR Capital Management LLC now owns 934,215 shares of the company’s stock valued at $69,693,000 after acquiring an additional 683,686 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Ferrari N.V. by 4.3% in the 1st quarter. Bank of America Corp DE now owns 896,521 shares of the company’s stock valued at $66,665,000 after acquiring an additional 36,852 shares in the last quarter. 29.78% of the stock is currently owned by institutional investors and hedge funds.

Shares of Ferrari N.V. (NYSE:RACE) traded up 1.66% on Monday, reaching $111.17. The company’s stock had a trading volume of 531,762 shares. The firm has a market cap of $21.01 billion, a price-to-earnings ratio of 37.22 and a beta of 1.78. The company’s 50 day moving average is $110.19 and its 200-day moving average is $87.00. Ferrari N.V. has a 1-year low of $46.39 and a 1-year high of $118.10.

Ferrari N.V. (NYSE:RACE) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.13. Ferrari N.V. had a return on equity of 128.49% and a net margin of 14.43%. The firm had revenue of $1.01 billion for the quarter. Equities research analysts expect that Ferrari N.V. will post $3.23 EPS for the current year.

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A number of research analysts recently weighed in on the company. Morgan Stanley downgraded Ferrari N.V. from an “overweight” rating to an “underweight” rating and set a $100.00 price objective on the stock. in a research note on Thursday. Evercore ISI raised their price objective on Ferrari N.V. from $46.00 to $105.00 and gave the company an “in-line” rating in a research note on Friday, September 1st. UBS AG reissued a “buy” rating and issued a $125.00 price objective (up from $100.00) on shares of Ferrari N.V. in a research note on Wednesday, August 9th. Berenberg Bank reissued a “buy” rating on shares of Ferrari N.V. in a research note on Monday, August 14th. Finally, Zacks Investment Research raised Ferrari N.V. from a “hold” rating to a “buy” rating and set a $112.00 price objective on the stock in a research note on Saturday, July 22nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Ferrari N.V. presently has a consensus rating of “Hold” and an average price target of $97.57.

About Ferrari N.V.

Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.

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Institutional Ownership by Quarter for Ferrari N.V. (NYSE:RACE)

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