Point72 Asset Management L.P. Has $2.84 Million Stock Position in Ferrari NV (NYSE:RACE)

Point72 Asset Management L.P. lowered its position in shares of Ferrari NV (NYSE:RACE) by 88.2% in the third quarter, Holdings Channel reports. The institutional investor owned 18,419 shares of the company’s stock after selling 137,920 shares during the period. Point72 Asset Management L.P.’s holdings in Ferrari were worth $2,838,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in RACE. Doyle Wealth Management acquired a new position in shares of Ferrari in the second quarter valued at about $25,000. Atlas Capital Advisors LLC increased its position in Ferrari by 63.4% during the second quarter. Atlas Capital Advisors LLC now owns 219 shares of the company’s stock worth $36,000 after acquiring an additional 85 shares during the period. Commonwealth Bank of Australia raised its stake in Ferrari by 44.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 231 shares of the company’s stock worth $36,000 after purchasing an additional 71 shares in the last quarter. Advisory Services Network LLC raised its stake in Ferrari by 121.6% in the 2nd quarter. Advisory Services Network LLC now owns 246 shares of the company’s stock worth $40,000 after purchasing an additional 135 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in Ferrari by 45.9% in the 2nd quarter. Parallel Advisors LLC now owns 375 shares of the company’s stock worth $61,000 after purchasing an additional 118 shares in the last quarter. 36.04% of the stock is owned by institutional investors.

Shares of NYSE RACE opened at $168.02 on Wednesday. The stock has a market capitalization of $31.39 billion, a P/E ratio of 41.80, a PEG ratio of 2.64 and a beta of 1.33. The stock’s fifty day moving average is $162.58 and its 200 day moving average is $157.73. Ferrari NV has a 52 week low of $93.85 and a 52 week high of $172.89. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.61 and a current ratio of 4.23.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.03). The firm had revenue of $915.00 million for the quarter, compared to the consensus estimate of $889.08 million. Ferrari had a return on equity of 51.17% and a net margin of 19.67%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.77 EPS. Equities research analysts forecast that Ferrari NV will post 4.14 earnings per share for the current year.

A number of research analysts have issued reports on the stock. Goldman Sachs Group upgraded shares of Ferrari from a “neutral” rating to a “buy” rating and set a $182.00 target price on the stock in a research report on Tuesday, August 13th. Zacks Investment Research raised shares of Ferrari from a “sell” rating to a “hold” rating in a report on Wednesday, October 23rd. Morgan Stanley lifted their price target on shares of Ferrari from $175.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, ValuEngine cut Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $173.92.

About Ferrari

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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