J. Safra Sarasin Holding AG Grows Stake in Ferrari N.V. $RACE

J. Safra Sarasin Holding AG lifted its holdings in Ferrari N.V. (NYSE:RACEFree Report) by 158.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,446 shares of the company’s stock after purchasing an additional 30,890 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Ferrari were worth $16,776,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Fideuram Asset Management Ireland dac acquired a new stake in Ferrari in the 4th quarter worth approximately $29,000. Community Bank N.A. acquired a new position in shares of Ferrari in the 3rd quarter valued at $33,000. Entrust Financial LLC acquired a new stake in Ferrari during the 4th quarter worth about $33,000. Bellevue Asset Management LLC acquired a new position in shares of Ferrari in the first quarter valued at about $34,000. Finally, Bamco Inc. NY lifted its holdings in shares of Ferrari by 790.9% during the fourth quarter. Bamco Inc. NY now owns 98 shares of the company’s stock worth $36,000 after purchasing an additional 87 shares during the period.

Ferrari Stock Up 0.0%

Shares of RACE opened at $376.78 on Monday. The stock has a 50 day moving average price of $352.36 and a 200 day moving average price of $352.48. Ferrari N.V. has a one year low of $312.51 and a one year high of $519.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20. The stock has a market capitalization of $88.15 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 3.23 and a beta of 0.92.

Trending Headlines about Ferrari

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Wall Street Analyst Weigh In

Several analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a research note on Wednesday. Sanford C. Bernstein reissued an “outperform” rating on shares of Ferrari in a report on Tuesday, June 2nd. Morgan Stanley upgraded Ferrari from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $388.00 to $438.00 in a research report on Monday, June 15th. UBS Group boosted their target price on shares of Ferrari from $483.00 to $497.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Jefferies Financial Group upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $471.97.

Read Our Latest Analysis on RACE

Ferrari Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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