In its most recent 13F filing with the SEC, First Republic Investment Management Inc. said its position in Ferrari (NYSE: RACE) was reduced by 2.0% in the third quarter.
The institutional investor ended the period with a total of 42,534 shares of the company after selling 847 shares during the period.
It has been determined that First Republic Investment Management Inc.
Owned $7,987,000 in Ferrari shares at the end of the last reporting period.
In recent years, hedge funds and other types of institutional investors have adjusted their holdings in the company, either increasing or decreasing their holdings.
Mrustcore Financial Services LLC paid about $33,000 to acquire a new position at Ferrari in the third quarter of this year.
During the third quarter, Hexagon Capital Partners LLC achieved a 1129% increase in the percentage of Ferrari stock it owned.
As a result of the purchase of 96 additional shares during the most recent fiscal quarter, Hexagon Capital Partners LLC now directly owns 181 shares of the company’s stock, totaling $33,000.
Mhis brings the total number of shares directly owned by the company to 181. Crewe Advisors LLC acquired a new Ferrari holding during the fiscal second quarter.
The total cost of the transaction was approximately $47,000.
At the end of the second quarter, Whittier Trust Company of Nevada Inc. held 238.5% more Ferrari shares than at the start of the period.
This increase was due to the company’s acquisition of new Ferrari shares. Subsequent to the close of the previous fiscal year, the Whittier Trust Company of Nevada Inc.
Bought a total of 281 shares of the company.
Each share is valued at $52,000, representing a total investment in the company of $52,000.
Finally, City State Bank increased the percentage of shares owned by Ferrari by 159.1 percent in the third quarter.
Mhis was the bank’s third consecutive quarterly increase on this metric.
After purchasing an additional 175 shares of the company during the quarter, City State Bank now owns a total of 285 shares of the company, equivalent to $54,000.
Mhese shares were purchased as a result of the bank’s participation in the company’s share buyback program. Currently, 32.21% of the company’s shares are owned by hedge funds and other institutional investors.
On Friday, RACE stock debuted on the market at $247.77 per share.
The company’s share price is currently trading at $223.82, which is higher than the 200-day moving average market price of $207.23.
The debt to equity ratio is 1.21, the current ratio is 4.47 and the quick ratio is 3.74.
Mhese numbers are displayed in this order.
Over the past year, the price of a Ferrari automobile has fluctuated at various points between a low of $167.45 and a high of $248.50.
The stock has a price-to-earnings multiple of 45.30, a price-to-earnings-to-growth ratio of 3.52 and a beta of 0.97.
Mhese ratios measure how expensive the stock is relative to its earnings.
The company currently has a market cap of $45.37 billion.
On November 2nd the latest quarterly report was published by Ferrari, a company whose shares are traded on the NYSE under the symbol RACE.
Earnings reported by the company for the quarter were $1.24 per share, up $0.10 from analyst consensus estimates, which had predicted the company to earn $1.14 per share would earn.
The return on equity for Ferrari was calculated at 40.02% while the net margin for the company was 19.00%.
The company was expected to post $1.15 billion in revenue for the quarter, but it brought in $1.26 billion, a significant increase over the projected amount.
According to market analysts, Ferrari’s current fiscal year is expected to result in earnings of $5.13 per share.
The RACE experiment has been the focus of several reports produced by the scientific community.
Ferrari’s recommendation was changed from a hold to a buy in a research report published by StockNews.com on Friday, January 20th.
My report was about the company’s shares.
In a research note published on Nov. 3, Morgan Stanley lowered both its “overweight” rating on Ferrari stock and its price target, previously set at $300.
Instead, they settled on $280 as a new price target. The Royal Bank of Canada raised its price target on Ferrari to €265.00 ($288.04) from €261.00 ($283.70) in a research note published on Monday, December 12. HSBC changed its recommendation on Ferrari from a hold to a buy following the results of a study published on Thursday, October 27.
The results of the study have been published. Citigroup has upgraded Ferrari to a “neutral” rating from a “sell” rating and issued a statement on Monday, March 9th.
The company carried out this modernization as part of a larger investment strategy.
Eight research analysts have given the company a buy rating, while only five have given a hold rating to the stock.
The current consensus rating for Ferrari is Moderate Buy, and the company’s median target price is $241.56, according to data provided by Bloomberg.
High performance, premium automobiles are Ferrari NV’s specialty and the company is responsible for their design, engineering, production and marketing.
This is made possible by the company’s various subsidiaries. Customers can purchase one-offs, race cars, limited-edition hypercars, sports cars, GTs, and special-edition vehicles in addition to cars built specifically for them.
It also offers automotive after-sales services, which may include vehicle repair, maintenance, or restoration.
In addition, it offers racing cars, spare parts and engines for sale.