Ferrari (NYSE:RACE) Shares Sold by Walkner Condon Financial Advisors LLC

by · The Markets Daily

Walkner Condon Financial Advisors LLC cut its stake in shares of Ferrari (NYSE:RACE – Free Report) by 29.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 500 shares of the company’s stock after selling 208 shares during the period. Walkner Condon Financial Advisors LLC’s holdings in Ferrari were worth $204,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in RACE. IAG Wealth Partners LLC purchased a new stake in Ferrari during the 1st quarter worth approximately $33,000. Register Financial Advisors LLC acquired a new stake in shares of Ferrari in the first quarter valued at $33,000. Pittenger & Anderson Inc. increased its holdings in Ferrari by 168.6% during the 1st quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock worth $41,000 after purchasing an additional 59 shares during the period. Headlands Technologies LLC acquired a new stake in Ferrari in the fourth quarter valued at approximately $43,000. Finally, Spire Wealth Management purchased a new stake in shares of Ferrari during the 1st quarter worth $46,000.

Ferrari Stock Performance

Shares of NYSE:RACE traded down $2.63 during midday trading on Wednesday, hitting $486.63. The stock had a trading volume of 160,382 shares, compared to its average volume of 273,861. Ferrari has a 1 year low of $285.02 and a 1 year high of $491.59. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01. The stock has a 50 day moving average price of $430.39 and a two-hundred day moving average price of $421.17. The company has a market capitalization of $89.90 billion, a PE ratio of 62.15, a P/E/G ratio of 4.85 and a beta of 0.99.

Ferrari (NYSE:RACE – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.08. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. Ferrari’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.99 earnings per share. As a group, equities analysts predict that Ferrari will post 8.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley boosted their target price on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. UBS Group boosted their price target on shares of Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research report on Monday, June 24th. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Finally, Jefferies Financial Group began coverage on Ferrari in a report on Friday, May 10th. They issued a “hold” rating and a $403.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $481.67.

Read 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