J. Safra Sarasin Holding AG lifted its holdings in Ferrari N.V. (NYSE:RACE – Free 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
- Positive Sentiment: Mercedes boss Toto Wolff said Ferrari could challenge Mercedes for the rest of the F1 season, a comment that may boost sentiment around Ferrari’s competitive outlook and brand visibility. Toto Wolff warns Ferrari will challenge Mercedes for ‘rest of the F1 season’
- Positive Sentiment: Ferrari’s Madrid track filming day and its data-gathering efforts ahead of rivals highlight ongoing F1 development, which can support enthusiasm around the team’s performance momentum. First look: Ferrari gives Madrid track its F1 debut on filming day Ferrari begins gathering what could be crucial data ahead of its F1 rivals
- Neutral Sentiment: Several articles covered Ferrari cars in drag races and enthusiast content, which may help brand exposure but is unlikely to materially affect the stock. Is the Ferrari Pista faster than the Ferrari F8 Tributo in drag race? Lamborghini Revuelto faces Ferrari 296 GTB in drag race
- Negative Sentiment: An article on Ferrari’s Austria engine upgrade said the race exposed problems the update could not fix, which could weigh on sentiment if investors view it as a sign of persistent performance issues in F1. Ferrari brought an engine upgrade to Austria – then the race exposed everything it could not fix
- Negative Sentiment: Coverage of a Ferrari race car crash at Watkins Glen and a classic Mini destroying a tuned Ferrari in a drag race may be mildly negative for brand optics, though likely limited in financial impact. Ferrari race car crash at Watkins Glen during 130 mph run Classic Mini Destroys Tuned Ferrari 488 In Wild Drag Race Battle
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
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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