William Blair Investment Management LLC Sells 36,379 Shares of Ferrari N.V. $RACE

William Blair Investment Management LLC decreased its position in Ferrari N.V. (NYSE:RACE) by 8.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 394,449 shares of the company’s stock after selling 36,379 shares during the period. William Blair Investment Management LLC’s holdings in Ferrari were worth $191,395,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of RACE. Benjamin Edwards Inc. raised its holdings in shares of Ferrari by 3.7% in the second quarter. Benjamin Edwards Inc. now owns 613 shares of the company’s stock valued at $299,000 after purchasing an additional 22 shares during the last quarter. Allworth Financial LP grew its position in Ferrari by 7.5% in the second quarter. Allworth Financial LP now owns 330 shares of the company’s stock valued at $162,000 after purchasing an additional 23 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in Ferrari by 2.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,086 shares of the company’s stock valued at $532,000 after buying an additional 23 shares during the last quarter. Certuity LLC increased its stake in Ferrari by 4.5% in the 2nd quarter. Certuity LLC now owns 582 shares of the company’s stock valued at $285,000 after buying an additional 25 shares during the last quarter. Finally, Wealth Alliance LLC lifted its position in Ferrari by 2.0% during the 3rd quarter. Wealth Alliance LLC now owns 1,251 shares of the company’s stock worth $607,000 after buying an additional 25 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Ferrari in a report on Monday, December 29th. Royal Bank Of Canada reissued an “outperform” rating on shares of Ferrari in a research report on Wednesday, February 11th. UBS Group lowered their price target on Ferrari from $563.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, January 9th. Zacks Research raised Ferrari from a “strong sell” rating to a “hold” rating in a report on Monday, February 2nd. Finally, HSBC reissued a “hold” rating on shares of Ferrari in a research note on Tuesday, January 13th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $476.52.

Ferrari Stock Performance

RACE opened at $379.99 on Friday. The company has a quick ratio of 4.38, a current ratio of 5.70 and a debt-to-equity ratio of 0.74. Ferrari N.V. has a 12-month low of $328.00 and a 12-month high of $519.10. The business has a 50 day moving average of $360.39 and a 200-day moving average of $405.96. The stock has a market cap of $88.90 billion, a price-to-earnings ratio of 37.58, a PEG ratio of 3.70 and a beta of 0.99.

Ferrari Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 21st will be issued a dividend of $3.615 per share. The ex-dividend date of this dividend is Tuesday, April 21st. This represents a yield of 99.0%. This is a positive change from Ferrari’s previous annual dividend of $3.13.

Ferrari 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.