Farther Finance Advisors LLC grew its stake in Ferrari (NYSE:RACE – Free Report) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 765 shares of the company’s stock after purchasing an additional 37 shares during the quarter. Farther Finance Advisors LLC’s holdings in Ferrari were worth $325,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of RACE. Hanson & Doremus Investment Management bought a new stake in shares of Ferrari in the 4th quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Ferrari in the 3rd quarter worth about $47,000. Armstrong Advisory Group Inc. lifted its position in Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after purchasing an additional 50 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Ferrari during the 4th quarter valued at about $45,000. Finally, Plato Investment Management Ltd bought a new position in Ferrari in the 4th quarter worth about $53,000.
Ferrari Trading Up 1.2 %
Shares of NYSE RACE opened at $454.62 on Tuesday. 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 $110.19 billion, a PE ratio of 49.68, a P/E/G ratio of 4.43 and a beta of 0.94. The company has a 50-day moving average of $454.94 and a two-hundred day moving average of $455.09. Ferrari has a 1-year low of $399.27 and a 1-year high of $509.13.
Ferrari Increases Dividend
Analysts Set New Price Targets
RACE has been the topic of a number of research analyst reports. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a report on Thursday, February 6th. They set a “hold” rating for the company. Three analysts have rated the stock with a hold rating and seven have given 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.
Check Out Our Latest Stock Report on RACE
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.
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