Ferrari N.V. $RACE Shares Sold by Capital International Investors

by · The Markets Daily

Capital International Investors trimmed its stake in shares of Ferrari N.V. (NYSE:RACE – Free Report) by 60.1% in the 4th quarter, HoldingsChannel reports. The firm owned 598,299 shares of the company’s stock after selling 901,705 shares during the period. Capital International Investors’ holdings in Ferrari were worth $222,849,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of RACE. AQR Capital Management LLC grew its stake in Ferrari by 78.9% during the 1st quarter. AQR Capital Management LLC now owns 3,568 shares of the company’s stock worth $1,527,000 after purchasing an additional 1,574 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Ferrari by 31.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company’s stock worth $82,000 after purchasing an additional 46 shares in the last quarter. Woodline Partners LP acquired a new position in Ferrari during the 1st quarter worth $1,519,000. Sivia Capital Partners LLC grew its stake in Ferrari by 67.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock worth $448,000 after purchasing an additional 368 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Ferrari by 7.5% during the 2nd quarter. Rhumbline Advisers now owns 1,370 shares of the company’s stock worth $672,000 after purchasing an additional 96 shares in the last quarter.

Analyst Upgrades and Downgrades

RACE has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. Royal Bank Of Canada reissued an “outperform” rating on shares of Ferrari in a research note on Wednesday, February 11th. Morgan Stanley set a $420.00 price target on Ferrari in a report on Monday, February 16th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Ferrari in a report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $469.06.

Read Our Latest Stock Report on Ferrari

Ferrari Stock Up 1.4%

Shares of NYSE RACE opened at $351.96 on Tuesday. The company has a market capitalization of $82.34 billion, a price-to-earnings ratio of 33.77, a price-to-earnings-growth ratio of 3.30 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. The business has a 50-day moving average of $343.58 and a two-hundred day moving average of $354.78. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $519.10.

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.

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