Thryve Wealth Management LLC purchased a new position in shares of Ferrari N.V. (NYSE:RACE – Free Report) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 2,000 shares of the company’s stock, valued at approximately $739,000.
Other large investors also recently bought and sold shares of the company. Lansforsakringar Fondforvaltning AB publ lifted its position in shares of Ferrari by 6.6% during the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 51,928 shares of the company’s stock worth $25,114,000 after purchasing an additional 3,224 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Ferrari by 94.4% during the fourth quarter. HighTower Advisors LLC now owns 25,068 shares of the company’s stock valued at $9,284,000 after purchasing an additional 12,175 shares during the period. CIBC Private Wealth Group LLC grew its holdings in shares of Ferrari by 3.3% in the third quarter. CIBC Private Wealth Group LLC now owns 183,917 shares of the company’s stock worth $89,077,000 after purchasing an additional 5,958 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Ferrari by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company’s stock worth $1,937,388,000 after purchasing an additional 58,506 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Ferrari by 3.9% in the 4th quarter. Deutsche Bank AG now owns 973,583 shares of the company’s stock worth $359,797,000 after buying an additional 36,670 shares during the period.
Wall Street Analysts Forecast Growth
RACE has been the subject of a number of research analyst reports. Sanford C. Bernstein reiterated an “outperform” rating on shares of Ferrari in a report on Tuesday, June 2nd. Morgan Stanley upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $388.00 to $438.00 in a research note on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ferrari in a research report on Friday, April 10th. UBS Group decreased their price target on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Finally, Jefferies Financial Group raised Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $470.70.
Ferrari Stock Performance
RACE stock opened at $362.88 on Friday. Ferrari N.V. has a 1-year low of $312.51 and a 1-year high of $519.10. The business has a 50-day moving average price of $347.58 and a 200 day moving average price of $353.34. The company has a market capitalization of $84.89 billion, a P/E ratio of 34.82, a PEG ratio of 3.38 and a beta of 0.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.20 and a quick ratio of 4.08.
Ferrari 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.
Featured Stories
- Five stocks we like better than Ferrari
- Credo Technologies Accelerates AI—Its Stock Price Will Follow
- Qualcomm Goes All-In: The $10B Bet to Crush NVIDIA
- Jabil Just Gave Investors a Stronger Reason to Buy the Dip
- CarMax In Reverse? Why You Should Buy Now Before the Big Catalysts Emerge
Want to see what other hedge funds are holding RACE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferrari N.V. (NYSE:RACE – Free Report).
Receive News & Ratings for Ferrari Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferrari and related companies with MarketBeat.com's FREE daily email newsletter.
