Sapient Capital LLC Acquires Shares of 67,765 Ferrari (NYSE:RACE)

Sapient Capital LLC acquired a new stake in shares of Ferrari (NYSE:RACE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 67,765 shares of the company’s stock, valued at approximately $22,849,000.

A number of other hedge funds have also recently bought and sold shares of RACE. Blue Trust Inc. raised its position in shares of Ferrari by 37.0% during the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after acquiring an additional 30 shares in the last quarter. Merlin Capital Inc raised its position in shares of Ferrari by 1.3% during the 3rd quarter. Merlin Capital Inc now owns 2,496 shares of the company’s stock valued at $738,000 after acquiring an additional 32 shares in the last quarter. Allworth Financial LP raised its position in shares of Ferrari by 17.0% during the 4th quarter. Allworth Financial LP now owns 255 shares of the company’s stock valued at $86,000 after acquiring an additional 37 shares in the last quarter. Lindbrook Capital LLC raised its position in shares of Ferrari by 8.1% during the 4th quarter. Lindbrook Capital LLC now owns 508 shares of the company’s stock valued at $172,000 after acquiring an additional 38 shares in the last quarter. Finally, Simplicity Solutions LLC raised its position in shares of Ferrari by 2.8% during the 3rd quarter. Simplicity Solutions LLC now owns 1,411 shares of the company’s stock valued at $417,000 after acquiring an additional 39 shares in the last quarter.

Analyst Upgrades and Downgrades

RACE has been the subject of a number of recent research reports. Bank of America upped their price objective on Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 4th. UBS Group upped their price objective on Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Sanford C. Bernstein upped their price objective on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Ferrari presently has a consensus rating of “Hold” and a consensus target price of $413.86.

Ferrari Trading Up 1.3 %

Shares of NYSE:RACE traded up $5.73 on Friday, hitting $430.29. The company’s stock had a trading volume of 288,971 shares, compared to its average volume of 232,041. Ferrari has a 12 month low of $283.20 and a 12 month high of $442.80. The stock’s 50-day moving average is $422.25 and its two-hundred day moving average is $374.93. 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:RACE) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.15. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Equities research analysts forecast that Ferrari will post 8.31 earnings per share for the current year.

Ferrari Dividend Announcement

The company also recently announced an annual dividend, which was paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd were paid a dividend of $2.443 per share. The ex-dividend date was Monday, April 22nd. This represents a yield of 0.62%.

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.