Ferrari (NYSE:RACE) Shares Sold by Equitable Trust Co.

Equitable Trust Co. lowered its holdings in shares of Ferrari (NYSE:RACE) by 21.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,992 shares of the company’s stock after selling 2,684 shares during the quarter. Equitable Trust Co.’s holdings in Ferrari were worth $4,245,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hanson & Doremus Investment Management purchased a new stake in shares of Ferrari during the fourth quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Ferrari during the third quarter worth about $29,000. Planning Capital Management Corp purchased a new stake in shares of Ferrari during the third quarter worth about $30,000. Ashton Thomas Securities LLC purchased a new stake in shares of Ferrari during the third quarter worth about $33,000. Finally, Armstrong Advisory Group Inc. grew its holdings in shares of Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after buying an additional 50 shares in the last quarter.

Ferrari Price Performance

RACE opened at $446.27 on Monday. 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 $375.31 and a 52-week high of $498.23. The company has a 50 day moving average of $435.60 and a two-hundred day moving average of $449.57. The company has a market cap of $108.78 billion, a P/E ratio of 48.77, a P/E/G ratio of 4.04 and a beta of 0.95.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RACE shares. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Thursday. UBS Group boosted their target price on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Evercore ISI boosted their target price on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a report on Thursday. They issued a “hold” rating for the company. Finally, Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $507.14.

About Ferrari

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.