Icon Wealth Advisors LLC Purchases 5,641 Shares of Ferrari (NYSE:RACE)

Icon Wealth Advisors LLC lifted its holdings in Ferrari (NYSE:RACE) by 1,403.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,043 shares of the company’s stock after purchasing an additional 5,641 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Ferrari were worth $2,841,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Jennison Associates LLC raised its position in Ferrari by 910.1% during the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after purchasing an additional 2,636,869 shares during the period. Legal & General Group Plc increased its position in shares of Ferrari by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 1,256,482 shares of the company’s stock valued at $512,660,000 after purchasing an additional 30,014 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Ferrari by 47,023.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock valued at $5,551,600,000 after buying an additional 1,178,410 shares during the period. Capital World Investors raised its holdings in Ferrari by 34.3% during the 1st quarter. Capital World Investors now owns 962,583 shares of the company’s stock valued at $419,547,000 after buying an additional 245,872 shares during the period. Finally, Marshall Wace LLP lifted its position in Ferrari by 108.4% in the second quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock worth $361,961,000 after buying an additional 461,409 shares during the last quarter.

Ferrari Stock Performance

Shares of NYSE:RACE opened at $430.03 on Friday. The firm’s 50 day simple moving average is $462.92 and its 200-day simple moving average is $442.24. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a one year low of $330.15 and a one year high of $498.23. The firm has a market cap of $79.45 billion, a PE ratio of 49.95, a price-to-earnings-growth ratio of 4.50 and a beta of 0.99.

Ferrari (NYSE:RACE) last issued its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share 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 firm 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 firm earned $1.98 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities analysts predict that Ferrari will post 8.75 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. UBS Group boosted their price objective on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. Evercore ISI upped their target price on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari 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.