Aviva PLC boosted its position in Ferrari N.V. (NYSE:RACE – Free Report) by 33.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 276,705 shares of the company’s stock after purchasing an additional 68,986 shares during the quarter. Aviva PLC’s holdings in Ferrari were worth $103,084,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Groupama Asset Managment raised its stake in Ferrari by 5.7% in the 3rd quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock valued at $8,244,189,000 after purchasing an additional 916,821 shares during the last quarter. Vanguard Group Inc. raised its stake in Ferrari by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company’s stock valued at $1,937,388,000 after purchasing an additional 58,506 shares during the last quarter. Amundi raised its stake in Ferrari by 8.0% in the 3rd quarter. Amundi now owns 2,972,368 shares of the company’s stock valued at $1,461,008,000 after purchasing an additional 219,909 shares during the last quarter. Alliancebernstein L.P. raised its stake in Ferrari by 27.5% in the 3rd quarter. Alliancebernstein L.P. now owns 2,379,261 shares of the company’s stock valued at $1,154,465,000 after purchasing an additional 512,703 shares during the last quarter. Finally, Norges Bank acquired a new position in Ferrari in the 4th quarter valued at $779,894,000.
Analysts Set New Price Targets
Several research analysts recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. Citigroup raised Ferrari from a “sell” rating to a “neutral” rating in a research note on Thursday, February 12th. Jefferies Financial Group raised Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. JPMorgan Chase & Co. raised their target price on Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Ferrari in a research note on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Ferrari presently has a consensus rating of “Moderate Buy” and an average price target of $469.06.
Ferrari Stock Up 5.7%
Shares of RACE opened at $366.21 on Friday. The company has a market capitalization of $85.67 billion, a PE ratio of 35.14, a price-to-earnings-growth ratio of 3.28 and a beta of 0.93. The company has a quick ratio of 4.08, a current ratio of 5.20 and a debt-to-equity ratio of 0.72. Ferrari N.V. has a 52-week low of $312.51 and a 52-week high of $519.10. The stock has a fifty day simple moving average of $345.35 and a two-hundred day simple moving average of $354.15.
Ferrari Company 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.
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