Trexquant Investment LP decreased its position in Ferrari NV (NYSE:RACE) by 69.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,220 shares of the company’s stock after selling 29,906 shares during the quarter. Trexquant Investment LP’s holdings in Ferrari were worth $1,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc increased its stake in shares of Ferrari by 2.1% in the 3rd quarter. Vanguard Group Inc now owns 3,547,789 shares of the company’s stock valued at $485,729,000 after acquiring an additional 71,965 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Ferrari in the 4th quarter valued at $99,000. Creative Planning increased its stake in shares of Ferrari by 4.5% in the 4th quarter. Creative Planning now owns 6,312 shares of the company’s stock valued at $628,000 after acquiring an additional 271 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Ferrari by 10.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 12,965 shares of the company’s stock valued at $1,289,000 after acquiring an additional 1,190 shares in the last quarter. Finally, Quad Cities Investment Group LLC bought a new stake in shares of Ferrari in the 4th quarter valued at $50,000. 35.99% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently weighed in on RACE shares. ValuEngine upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. HSBC lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Zacks Investment Research lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Redburn Partners started coverage on shares of Ferrari in a research note on Wednesday, June 5th. They issued a “neutral” rating and a $143.04 price objective for the company. Finally, Credit Suisse Group lifted their price objective on shares of Ferrari from $148.00 to $158.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $141.56.

RACE stock traded down $0.81 during midday trading on Friday, reaching $153.24. 93,310 shares of the company’s stock traded hands, compared to its average volume of 485,921. The firm has a market capitalization of $29.22 billion, a PE ratio of 38.12, a price-to-earnings-growth ratio of 2.35 and a beta of 1.32. The company has a current ratio of 4.27, a quick ratio of 3.67 and a debt-to-equity ratio of 1.39. Ferrari NV has a 52 week low of $93.85 and a 52 week high of $155.54.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.06. The business had revenue of $940.00 million during the quarter, compared to analyst estimates of $868.32 million. Ferrari had a net margin of 23.17% and a return on equity of 53.74%. Ferrari’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 EPS. On average, equities analysts predict that Ferrari NV will post 4.01 earnings per share for the current fiscal year.

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Ferrari Profile

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

See Also: What are Institutional Investors?

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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