Ferrari N.V. $RACE Stock Holdings Increased by Vontobel Holding Ltd.

Vontobel Holding Ltd. increased its holdings in Ferrari N.V. (NYSE:RACE) by 314.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 557,868 shares of the company’s stock after purchasing an additional 423,359 shares during the quarter. Vontobel Holding Ltd. owned 0.23% of Ferrari worth $208,595,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fideuram Asset Management Ireland dac bought a new stake in shares of Ferrari in the 4th quarter worth approximately $29,000. Community Bank N.A. bought a new stake in shares of Ferrari in the 3rd quarter worth approximately $33,000. Entrust Financial LLC bought a new stake in shares of Ferrari in the 4th quarter worth approximately $33,000. CoreCap Advisors LLC raised its holdings in shares of Ferrari by 70.0% in the 4th quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock worth $38,000 after purchasing an additional 42 shares in the last quarter. Finally, Navalign LLC bought a new stake in shares of Ferrari in the 4th quarter worth approximately $41,000.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Morgan Stanley set a $420.00 target price on shares of Ferrari in a report on Monday, February 16th. UBS Group cut their price target on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a report on Friday, April 10th. JPMorgan Chase & Co. boosted their price target on shares of Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Finally, Jefferies Financial Group upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $469.06.

Ferrari Stock Down 3.0%

RACE stock opened at $354.77 on Friday. Ferrari N.V. has a 52-week low of $312.51 and a 52-week high of $519.10. The company’s 50 day simple moving average is $345.59 and its 200-day simple moving average is $354.15. 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 firm has a market capitalization of $83.00 billion, a P/E ratio of 34.04, a P/E/G ratio of 3.46 and a beta of 0.93.

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.