Ferrari N.V. $RACE Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC lessened its stake in shares of Ferrari N.V. (NYSE:RACE) by 23.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,421 shares of the company’s stock after selling 3,163 shares during the quarter. Sanctuary Advisors LLC’s holdings in Ferrari were worth $3,477,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RACE. Benjamin Edwards Inc. raised its stake in Ferrari by 3.7% during the 2nd quarter. Benjamin Edwards Inc. now owns 613 shares of the company’s stock worth $299,000 after acquiring an additional 22 shares in the last quarter. Pacific Sun Financial Corp boosted its stake in Ferrari by 2.5% in the third quarter. Pacific Sun Financial Corp now owns 1,008 shares of the company’s stock valued at $489,000 after acquiring an additional 25 shares in the last quarter. Horizon Investments LLC boosted its stake in Ferrari by 33.3% in the third quarter. Horizon Investments LLC now owns 104 shares of the company’s stock valued at $50,000 after acquiring an additional 26 shares in the last quarter. Evergreen Capital Management LLC grew its holdings in shares of Ferrari by 1.4% during the second quarter. Evergreen Capital Management LLC now owns 1,928 shares of the company’s stock worth $946,000 after purchasing an additional 26 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Ferrari by 14.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 222 shares of the company’s stock worth $108,000 after purchasing an additional 28 shares during the last quarter.

Ferrari Price Performance

Shares of NYSE:RACE opened at $377.68 on Monday. Ferrari N.V. has a one year low of $312.51 and a one year high of $519.10. The stock has a market capitalization of $88.36 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 3.23 and a beta of 0.92. The company has a 50-day simple moving average of $356.23 and a 200-day simple moving average of $352.46. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20.

Analysts Set New Price Targets

Several research firms have recently weighed in on RACE. Wolfe Research assumed coverage on Ferrari in a report on Tuesday, July 7th. They issued an “outperform” rating for the company. Sanford C. Bernstein restated an “outperform” rating on shares of Ferrari in a research note on Tuesday, June 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ferrari in a research report on Wednesday, July 8th. Morgan Stanley upgraded Ferrari from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $388.00 to $438.00 in a research note on Monday, June 15th. Finally, UBS Group increased their price objective on Ferrari from $483.00 to $497.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $471.97.

About Ferrari

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.