William Blair Investment Management LLC Has $79.45 Million Stock Position in Ferrari N.V. $RACE

William Blair Investment Management LLC decreased its position in Ferrari N.V. (NYSE:RACE) by 45.5% in the 4th quarter, HoldingsChannel reports. The fund owned 214,980 shares of the company’s stock after selling 179,469 shares during the period. William Blair Investment Management LLC’s holdings in Ferrari were worth $79,448,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. grew its stake in shares of Ferrari by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock valued at $27,000 after purchasing an additional 28 shares during the period. Root Financial Partners LLC bought a new stake in shares of Ferrari in the 3rd quarter valued at approximately $28,000. Community Bank N.A. bought a new stake in shares of Ferrari in the 3rd quarter valued at approximately $33,000. Westfuller Advisors LLC bought a new stake in shares of Ferrari in the 3rd quarter valued at approximately $43,000. Finally, Entrust Financial LLC bought a new stake in shares of Ferrari in the 4th quarter valued at approximately $33,000.

Analysts Set New Price Targets

Several research firms have recently weighed in on RACE. Citigroup upgraded Ferrari from a “sell” rating to a “neutral” rating in a research note on Thursday, February 12th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $410.00 price objective on shares of Ferrari in a research note on Wednesday, February 11th. Jefferies Financial Group upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Zacks Research upgraded Ferrari from a “strong sell” rating to a “hold” rating in a research report on Monday, February 2nd. Finally, JPMorgan Chase & Co. increased their price target on Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $469.06.

Ferrari Stock Down 0.0%

NYSE RACE opened at $348.09 on Monday. The firm has a market cap of $81.43 billion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 3.31 and a beta of 0.95. Ferrari N.V. has a one year low of $312.51 and a one year high of $519.10. The stock’s 50 day simple moving average is $339.67 and its 200 day simple moving average is $359.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.20 and a quick ratio of 4.08.

Ferrari Company Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.