Ferrari N.V. $RACE Stock Holdings Reduced by William Blair Investment Management LLC

William Blair Investment Management LLC lowered its position in Ferrari N.V. (NYSE:RACE) by 45.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,980 shares of the company’s stock after selling 179,469 shares during the quarter. William Blair Investment Management LLC owned approximately 0.09% of Ferrari worth $79,448,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Westside Investment Management Inc. grew its stake in Ferrari by 100.0% in the third quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock valued at $27,000 after purchasing an additional 28 shares in the last quarter. Root Financial Partners LLC purchased a new position in Ferrari in the third quarter valued at about $28,000. Community Bank N.A. bought a new stake in shares of Ferrari during the 3rd quarter worth about $33,000. Entrust Financial LLC bought a new stake in shares of Ferrari during the 4th quarter worth about $33,000. Finally, CoreCap Advisors LLC boosted its stake in shares of Ferrari by 70.0% during the 4th quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock worth $38,000 after acquiring an additional 42 shares in the last quarter.

Ferrari Price Performance

NYSE RACE opened at $348.09 on Monday. Ferrari N.V. has a twelve month low of $312.51 and a twelve month high of $519.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20. The stock has a market capitalization of $81.43 billion, a PE ratio of 33.40, a P/E/G ratio of 3.31 and a beta of 0.95. The stock has a 50-day simple moving average of $339.67 and a 200 day simple moving average of $359.84.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RACE. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferrari in a research note on Wednesday, February 11th. UBS Group decreased their price target on Ferrari from $555.00 to $483.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Morgan Stanley set a $420.00 price target on Ferrari in a research note on Monday, February 16th. Jefferies Financial Group upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $410.00 price target on shares of Ferrari in a research note on Wednesday, February 11th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $469.06.

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.