Venturi Wealth Management LLC Reduces Stock Position in Ferrari (NYSE:RACE)

Venturi Wealth Management LLC cut its stake in Ferrari (NYSE:RACE) by 10.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,048 shares of the company’s stock after selling 234 shares during the quarter. Venturi Wealth Management LLC’s holdings in Ferrari were worth $870,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Jennison Associates LLC grew its position in shares of Ferrari by 910.1% in 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 last quarter. Bank of Italy boosted its position in Ferrari by 2.8% during the fourth quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock worth $1,002,392,000 after acquiring an additional 63,675 shares during the last quarter. International Assets Investment Management LLC boosted its position in Ferrari by 47,023.5% during the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock worth $5,551,600,000 after acquiring an additional 1,178,410 shares during the last quarter. Swiss National Bank boosted its position in Ferrari by 0.5% during the third quarter. Swiss National Bank now owns 377,857 shares of the company’s stock worth $177,157,000 after acquiring an additional 1,914 shares during the last quarter. Finally, Barclays PLC boosted its position in Ferrari by 6.1% during the third quarter. Barclays PLC now owns 286,564 shares of the company’s stock worth $134,719,000 after acquiring an additional 16,428 shares during the last quarter.

Ferrari Stock Performance

Shares of RACE stock opened at $504.17 on Wednesday. The company’s fifty day simple moving average is $441.44 and its 200-day simple moving average is $453.42. Ferrari has a 52 week low of $389.34 and a 52 week high of $508.03. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The company has a market cap of $122.89 billion, a PE ratio of 55.10, a P/E/G ratio of 4.04 and a beta of 0.95.

Wall Street Analyst Weigh In

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