Baillie Gifford & Co. Sells 347,284 Shares of Ferrari (NYSE:RACE)

Baillie Gifford & Co. cut its holdings in Ferrari (NYSE:RACE - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,523,914 shares of the company's stock after selling 347,284 shares during the period. Ferrari makes up approximately 1.8% of Baillie Gifford & Co.'s portfolio, making the stock its 15th biggest position. Baillie Gifford & Co. owned approximately 2.27% of Ferrari worth $2,358,933,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Elite Wealth Management Inc. raised its position in shares of Ferrari by 1.0% in the 3rd quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company's stock worth $1,225,000 after acquiring an additional 25 shares in the last quarter. Addison Advisors LLC boosted its position in shares of Ferrari by 13.6% during the 3rd quarter. Addison Advisors LLC now owns 217 shares of the company's stock worth $102,000 after purchasing an additional 26 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Ferrari by 10.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company's stock worth $140,000 after purchasing an additional 30 shares in the last quarter. Caprock Group LLC boosted its position in shares of Ferrari by 1.7% during the 3rd quarter. Caprock Group LLC now owns 1,823 shares of the company's stock worth $857,000 after purchasing an additional 31 shares in the last quarter. Finally, EWA LLC boosted its position in shares of Ferrari by 6.6% during the 3rd quarter. EWA LLC now owns 518 shares of the company's stock worth $228,000 after purchasing an additional 32 shares in the last quarter.

Ferrari Stock Performance

Ferrari stock traded down $3.55 during mid-day trading on Wednesday, reaching $501.14. 114,683 shares of the company's stock were exchanged, compared to its average volume of 335,596. The business's fifty day simple moving average is $441.44 and its 200 day simple moving average is $453.42. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a one year low of $389.34 and a one year high of $508.03. The firm has a market capitalization of $122.15 billion, a PE ratio of 54.81, a P/E/G ratio of 4.40 and a beta of 0.95.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RACE. Barclays cut shares of Ferrari from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, February 5th. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Evercore ISI upped their target price on shares of Ferrari from $475.00 to $565.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. UBS Group upped their target price on shares of Ferrari from $478.00 to $513.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a "hold" rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $507.14.

Ferrari 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.