Passumpsic Savings Bank Sells 127 Shares of Ferrari (NYSE:RACE)

Passumpsic Savings Bank reduced its stake in shares of Ferrari (NYSE:RACE) by 2.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,692 shares of the company’s stock after selling 127 shares during the period. Passumpsic Savings Bank’s holdings in Ferrari were worth $1,993,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RACE. Raymond James & Associates lifted its stake in Ferrari by 1.4% in the third quarter. Raymond James & Associates now owns 50,940 shares of the company’s stock worth $23,948,000 after purchasing an additional 693 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in Ferrari by 1.2% in the third quarter. Sequoia Financial Advisors LLC now owns 4,362 shares of the company’s stock worth $2,051,000 after purchasing an additional 53 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Ferrari by 904.5% in the third quarter. Assenagon Asset Management S.A. now owns 110,565 shares of the company’s stock worth $51,968,000 after purchasing an additional 99,558 shares during the last quarter. Dakota Wealth Management lifted its stake in Ferrari by 1.3% in the third quarter. Dakota Wealth Management now owns 39,656 shares of the company’s stock worth $18,643,000 after purchasing an additional 518 shares during the last quarter. Finally, Ballentine Partners LLC lifted its stake in Ferrari by 16.3% in the third quarter. Ballentine Partners LLC now owns 1,673 shares of the company’s stock worth $786,000 after purchasing an additional 234 shares during the last quarter.

Ferrari Stock Performance

Shares of NYSE:RACE opened at $503.88 on Friday. The company has a market cap of $122.82 billion, a price-to-earnings ratio of 55.07, a price-to-earnings-growth ratio of 4.43 and a beta of 0.95. The company has a 50-day moving average price of $444.58 and a 200-day moving average price of $454.68. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 12 month low of $399.27 and a 12 month high of $508.20.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, UBS Group upped their price objective on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently 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.