Passumpsic Savings Bank Has $1.99 Million Stake in Ferrari (NYSE:RACE)

Passumpsic Savings Bank trimmed its stake in Ferrari (NYSE:RACE) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,692 shares of the company’s stock after selling 127 shares during the period. Passumpsic Savings Bank’s holdings in Ferrari were worth $1,993,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hanson & Doremus Investment Management bought a new position in Ferrari in the 4th quarter valued at about $26,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Ferrari in the 3rd quarter worth approximately $29,000. Planning Capital Management Corp bought a new stake in shares of Ferrari in the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC bought a new stake in shares of Ferrari in the 3rd quarter worth approximately $33,000. Finally, Armstrong Advisory Group Inc. raised its holdings in shares of Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after purchasing an additional 50 shares during the period.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. UBS Group lifted their price objective on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Stock Down 0.8 %

RACE opened at $503.88 on Friday. The company has a fifty day moving average price of $444.58 and a 200-day moving average price of $454.68. The firm has a market capitalization of $122.82 billion, a P/E ratio of 55.07, a price-to-earnings-growth ratio of 4.43 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. Ferrari has a one year low of $399.27 and a one year high of $508.20.

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.