Dalal Street LLC decreased its position in Ferrari (NASDAQ:RACE) by 41.0% during the fourth quarter, Holdings Channel reports. The firm owned 398,138 shares of the company’s stock after selling 277,000 shares during the period. Ferrari makes up 6.7% of Dalal Street LLC’s holdings, making the stock its 5th largest position. Dalal Street LLC owned about 0.21% of Ferrari worth $23,222,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Edmond DE Rothschild Monaco purchased a new stake in shares of Ferrari during the third quarter worth about $143,000. Baillie Gifford & Co. raised its position in Ferrari by 6.3% in the second quarter. Baillie Gifford & Co. now owns 13,077,533 shares of the company’s stock valued at $532,493,000 after buying an additional 772,620 shares during the last quarter. Permian Investment Partners LP raised its position in Ferrari by 0.5% in the third quarter. Permian Investment Partners LP now owns 1,226,737 shares of the company’s stock valued at $63,643,000 after buying an additional 6,000 shares during the last quarter. Edmond DE Rothschild Italia SGR SPA raised its position in Ferrari by 88.5% in the third quarter. Edmond DE Rothschild Italia SGR SPA now owns 56,462 shares of the company’s stock valued at $2,913,000 after buying an additional 26,502 shares during the last quarter. Finally, Samlyn Capital LLC raised its position in Ferrari by 5.4% in the third quarter. Samlyn Capital LLC now owns 1,677,444 shares of the company’s stock valued at $87,009,000 after buying an additional 85,700 shares during the last quarter.
Ferrari (NASDAQ:RACE) traded up 0.03% during mid-day trading on Tuesday, hitting $66.19. 323,595 shares of the company were exchanged. The company has a 50 day moving average of $61.39 and a 200 day moving average of $54.20. The stock has a market cap of $12.50 billion and a P/E ratio of 29.43. Ferrari has a 12-month low of $36.36 and a 12-month high of $66.57.
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RACE has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Ferrari from $60.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 8th. Citigroup Inc. reissued a “neutral” rating on shares of Ferrari in a research report on Friday, October 21st. Zacks Investment Research downgraded shares of Ferrari from a “strong-buy” rating to a “hold” rating in a research report on Friday. Berenberg Bank began coverage on shares of Ferrari in a report on Tuesday, November 22nd. They issued a “buy” rating for the company. Finally, Evercore ISI raised shares of Ferrari from a “sell” rating to a “hold” rating in a research note on Tuesday, November 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Ferrari has an average rating of “Hold” and a consensus price target of $64.33.
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