Kolinsky Wealth Management LLC Buys 195 Shares of Ferrari (NYSE:RACE)

Kolinsky Wealth Management LLC increased its holdings in shares of Ferrari (NYSE:RACEFree Report) by 13.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,668 shares of the company’s stock after acquiring an additional 195 shares during the period. Kolinsky Wealth Management LLC’s holdings in Ferrari were worth $493,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Merlin Capital Inc raised its holdings in shares of Ferrari by 1.3% during the third quarter. Merlin Capital Inc now owns 2,496 shares of the company’s stock valued at $738,000 after purchasing an additional 32 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of Ferrari by 2.4% during the second quarter. D.A. Davidson & CO. now owns 1,486 shares of the company’s stock valued at $483,000 after purchasing an additional 35 shares during the last quarter. Simplicity Solutions LLC raised its holdings in shares of Ferrari by 2.8% during the third quarter. Simplicity Solutions LLC now owns 1,411 shares of the company’s stock valued at $417,000 after purchasing an additional 39 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in Ferrari by 1.8% during the third quarter. Stratos Wealth Partners LTD. now owns 2,217 shares of the company’s stock valued at $655,000 after buying an additional 39 shares during the period. Finally, PICTET BANK & TRUST Ltd grew its position in Ferrari by 0.9% during the third quarter. PICTET BANK & TRUST Ltd now owns 4,695 shares of the company’s stock valued at $1,390,000 after buying an additional 40 shares during the period.

Ferrari Stock Performance

Shares of RACE traded down $5.75 during midday trading on Thursday, hitting $422.81. The stock had a trading volume of 355,535 shares, compared to its average volume of 362,583. Ferrari has a 1 year low of $252.17 and a 1 year high of $430.08. The stock’s 50 day moving average is $362.31 and its 200 day moving average is $336.60. The company has a current ratio of 3.91, a quick ratio of 2.98 and a debt-to-equity ratio of 0.81.

Ferrari (NYSE:RACEGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.59 by $0.15. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.61 billion. Ferrari had a net margin of 21.06% and a return on equity of 43.84%. Research analysts anticipate that Ferrari will post 8.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on RACE. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 6th. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Morgan Stanley upped their price target on shares of Ferrari from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, November 3rd. HSBC lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, December 13th. Finally, BNP Paribas lowered shares of Ferrari from an “outperform” rating to a “neutral” rating in a research report on Wednesday, December 13th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $337.00.

View Our Latest Research Report on RACE

Ferrari Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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