UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $107.02 Million Stock Holdings in Ferrari (NYSE:RACE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Ferrari (NYSE:RACE) by 33.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 227,638 shares of the company’s stock after selling 115,373 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Ferrari were worth $107,015,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its stake 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 in the last quarter. International Assets Investment Management LLC raised its stake in shares of Ferrari by 47,023.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock valued at $5,551,600,000 after buying an additional 1,178,410 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Ferrari by 108.4% during the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock worth $361,961,000 after acquiring an additional 461,409 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Ferrari by 89.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock valued at $103,621,000 after acquiring an additional 104,366 shares in the last quarter. Finally, Dnca Finance bought a new stake in Ferrari in the second quarter valued at about $41,165,000.

Analysts Set New Price Targets

A number of brokerages have commented on RACE. UBS Group raised their price target on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Morgan Stanley boosted their price target on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and upped their price target for the company from $385.00 to $525.00 in a research report on Friday, October 11th. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Evercore ISI upped their target price on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Stock Performance

Shares of NYSE:RACE opened at $434.16 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. Ferrari has a 12 month low of $330.15 and a 12 month high of $498.23. The company’s 50-day moving average price is $459.00 and its two-hundred day moving average price is $443.68.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the company earned $1.98 earnings per share. Ferrari’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, sell-side analysts predict that Ferrari will post 8.58 EPS for the current year.

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.