Nalls Sherbakoff Group LLC Takes $739,000 Position in Ferrari N.V. $RACE

Nalls Sherbakoff Group LLC acquired a new position in Ferrari N.V. (NYSE:RACE) during the 4th quarter, Holdings Channel reports. The firm acquired 2,000 shares of the company’s stock, valued at approximately $739,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RACE. Groupama Asset Managment grew its position in Ferrari by 5.7% during the third quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock valued at $8,244,189,000 after buying an additional 916,821 shares during the period. Vanguard Group Inc. boosted its stake in shares of Ferrari by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company’s stock worth $1,937,388,000 after acquiring an additional 58,506 shares during the last quarter. Amundi boosted its stake in shares of Ferrari by 11.1% during the 4th quarter. Amundi now owns 3,303,264 shares of the company’s stock worth $1,220,754,000 after acquiring an additional 330,896 shares during the last quarter. Morgan Stanley grew its position in shares of Ferrari by 43.4% during the 4th quarter. Morgan Stanley now owns 2,546,564 shares of the company’s stock valued at $941,109,000 after acquiring an additional 771,039 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of Ferrari by 27.5% during the 3rd quarter. Alliancebernstein L.P. now owns 2,379,261 shares of the company’s stock valued at $1,154,465,000 after acquiring an additional 512,703 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Ferrari in a report on Tuesday, June 2nd. Morgan Stanley raised Ferrari from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $388.00 to $438.00 in a report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a report on Friday, April 10th. Jefferies Financial Group raised Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Finally, UBS Group lowered their price objective on Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $470.70.

Ferrari Stock Up 0.2%

Shares of RACE stock opened at $362.88 on Friday. 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 N.V. has a one year low of $312.51 and a one year high of $519.10. The company’s fifty day moving average price is $347.80 and its 200-day moving average price is $353.40. The company has a market capitalization of $84.89 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 3.45 and a beta of 0.93.

About Ferrari

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.