Spire Wealth Management Purchases 300 Shares of Ferrari N.V. $RACE

Spire Wealth Management grew its position in Ferrari N.V. (NYSE:RACE) by 100.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 600 shares of the company’s stock after purchasing an additional 300 shares during the quarter. Spire Wealth Management’s holdings in Ferrari were worth $294,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. GW&K Investment Management LLC grew its position in shares of Ferrari by 288.9% in the first quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. Brooklyn Investment Group grew its position in shares of Ferrari by 381.3% in the first quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock valued at $33,000 after purchasing an additional 61 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Ferrari by 41.2% in the second quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock valued at $35,000 after purchasing an additional 21 shares during the last quarter. Centerpoint Advisors LLC acquired a new stake in shares of Ferrari in the first quarter valued at about $43,000. Finally, Gordian Capital Singapore Pte Ltd grew its position in shares of Ferrari by 42.9% in the first quarter. Gordian Capital Singapore Pte Ltd now owns 100 shares of the company’s stock valued at $43,000 after purchasing an additional 30 shares during the last quarter.

Ferrari Stock Down 3.2%

RACE opened at $391.18 on Tuesday. Ferrari N.V. has a fifty-two week low of $372.31 and a fifty-two week high of $519.10. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. The firm’s fifty day moving average price is $451.64 and its two-hundred day moving average price is $467.43. The company has a market capitalization of $94.81 billion, a P/E ratio of 40.37, a P/E/G ratio of 4.28 and a beta of 1.07.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RACE. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferrari in a research report on Monday, August 4th. Zacks Research downgraded Ferrari from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 29th. Citigroup lowered their price target on Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Deutsche Bank Aktiengesellschaft raised Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, September 2nd. Finally, Cfra Research downgraded Ferrari from a “hold” rating to a “moderate sell” rating in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $501.14.

Ferrari Company 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.