Principal Securities Inc. Sells 92 Shares of Ferrari (NYSE:RACE)

Principal Securities Inc. lessened its holdings in Ferrari (NYSE:RACE) by 9.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 915 shares of the company’s stock after selling 92 shares during the period. Principal Securities Inc.’s holdings in Ferrari were worth $389,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Jennison Associates LLC grew its holdings in shares of Ferrari by 910.1% during the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after purchasing an additional 2,636,869 shares during the last quarter. Bank of Italy raised its position in shares of Ferrari by 2.8% during the fourth quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock worth $1,002,392,000 after purchasing an additional 63,675 shares during the period. Swiss National Bank raised its position in shares of Ferrari by 0.5% during the third quarter. Swiss National Bank now owns 377,857 shares of the company’s stock worth $177,157,000 after purchasing an additional 1,914 shares during the period. Barclays PLC grew its holdings in Ferrari by 6.1% during the third quarter. Barclays PLC now owns 286,564 shares of the company’s stock worth $134,719,000 after buying an additional 16,428 shares in the last quarter. Finally, Quadrature Capital Ltd grew its holdings in Ferrari by 83.7% during the third quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock worth $108,417,000 after buying an additional 105,390 shares in the last quarter.

Ferrari Price Performance

Shares of Ferrari stock opened at $503.88 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The business’s 50 day simple moving average is $444.58 and its two-hundred day simple moving average is $454.95. The stock has a market capitalization of $122.82 billion, a P/E ratio of 55.07, a price-to-earnings-growth ratio of 4.43 and a beta of 0.95. Ferrari has a one year low of $399.27 and a one year high of $508.20.

Analyst Ratings Changes

Several brokerages recently issued reports on RACE. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. UBS Group lifted their price objective on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. Finally, Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $507.14.

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.