2,925 Shares in Ferrari (RACE) Purchased by Coldstream Capital Management Inc.
Coldstream Capital Management Inc. acquired a new position in shares of Ferrari (NYSE:RACE) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,925 shares of the company’s stock, valued at approximately $323,000.
A number of other institutional investors also recently bought and sold shares of RACE. Bank of New York Mellon Corp grew its holdings in Ferrari by 124.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 811,847 shares of the company’s stock valued at $69,836,000 after buying an additional 449,795 shares during the period. Rehmann Capital Advisory Group purchased a new stake in Ferrari in the 3rd quarter valued at about $263,000. Geode Capital Management LLC purchased a new stake in Ferrari in the 1st quarter valued at about $1,005,000. Prudential PLC grew its holdings in Ferrari by 7.7% in the 2nd quarter. Prudential PLC now owns 68,009 shares of the company’s stock valued at $5,850,000 after buying an additional 4,860 shares during the period. Finally, Cavalier Investments LLC grew its holdings in Ferrari by 35.7% in the 3rd quarter. Cavalier Investments LLC now owns 11,400 shares of the company’s stock valued at $1,259,000 after buying an additional 3,000 shares during the period. Hedge funds and other institutional investors own 31.86% of the company’s stock.
RACE has been the subject of several recent analyst reports. Morgan Stanley cut Ferrari from an “overweight” rating to an “underweight” rating and set a $100.00 price target for the company. in a report on Thursday, September 7th. BidaskClub cut Ferrari from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research cut Ferrari from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. Goldman Sachs Group initiated coverage on Ferrari in a report on Wednesday, September 13th. They issued a “neutral” rating and a $131.00 price target for the company. Finally, TheStreet upgraded Ferrari from a “c” rating to a “b-” rating in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $114.71.
Ferrari (RACE) traded up $0.21 during midday trading on Wednesday, hitting $106.65. The stock had a trading volume of 651,000 shares, compared to its average volume of 581,297. The firm has a market cap of $20,112.26, a price-to-earnings ratio of 34.45, a P/E/G ratio of 2.63 and a beta of 1.47. Ferrari has a fifty-two week low of $57.03 and a fifty-two week high of $121.14. The company has a quick ratio of 2.68, a current ratio of 3.26 and a debt-to-equity ratio of 2.77.
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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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