Claraphi Advisory Network LLC purchased a new position in shares of Ferrari (NYSE:RACE) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 2,421 shares of the company’s stock, valued at approximately $254,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RACE. WCM Investment Management CA bought a new position in shares of Ferrari during the 3rd quarter worth $108,587,000. Wells Fargo & Company MN boosted its position in Ferrari by 579.6% during the third quarter. Wells Fargo & Company MN now owns 646,247 shares of the company’s stock valued at $71,399,000 after purchasing an additional 551,149 shares in the last quarter. Ardevora Asset Management LLP bought a new stake in Ferrari during the third quarter valued at about $37,501,000. Koch Industries Inc. bought a new stake in Ferrari during the second quarter valued at about $242,000. Finally, FMR LLC boosted its position in Ferrari by 127.4% during the second quarter. FMR LLC now owns 288,178 shares of the company’s stock valued at $24,789,000 after purchasing an additional 161,436 shares in the last quarter. 31.86% of the stock is currently owned by institutional investors and hedge funds.

Shares of Ferrari (NYSE:RACE) opened at $124.08 on Thursday. The company has a quick ratio of 2.68, a current ratio of 3.26 and a debt-to-equity ratio of 2.77. Ferrari has a 12 month low of $64.12 and a 12 month high of $130.63. The company has a market capitalization of $23,980.00 and a PE ratio of 39.78.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.03). Ferrari had a net margin of 15.74% and a return on equity of 98.82%. The business had revenue of $840.00 million during the quarter, compared to analysts’ expectations of $869.74 million. During the same quarter last year, the business posted $0.69 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. equities research analysts predict that Ferrari will post 3.81 EPS for the current year.

RACE has been the topic of a number of recent research reports. TheStreet raised Ferrari from a “c” rating to a “b-” rating in a research report on Friday, October 20th. Zacks Investment Research downgraded Ferrari from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 2nd. BidaskClub downgraded Ferrari from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. Jefferies Group raised their price objective on Ferrari to $130.00 and gave the company a “buy” rating in a research report on Friday, December 8th. Finally, HSBC initiated coverage on Ferrari in a research report on Monday, December 11th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $117.86.

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About Ferrari

Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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