Infusive Asset Management Inc. Purchases 11,516 Shares of Ferrari N.V. $RACE

Infusive Asset Management Inc. raised its position in Ferrari N.V. (NYSE:RACE) by 269.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 15,789 shares of the company’s stock after buying an additional 11,516 shares during the period. Ferrari comprises approximately 2.5% of Infusive Asset Management Inc.’s holdings, making the stock its 14th largest holding. Infusive Asset Management Inc.’s holdings in Ferrari were worth $5,835,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Fideuram Asset Management Ireland dac bought a new position in Ferrari in the 4th quarter valued at $29,000. Community Bank N.A. bought a new position in Ferrari in the 3rd quarter valued at $33,000. Entrust Financial LLC bought a new position in Ferrari in the 4th quarter valued at $33,000. CoreCap Advisors LLC boosted its position in Ferrari by 70.0% in the 4th quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock valued at $38,000 after buying an additional 42 shares during the last quarter. Finally, Navalign LLC bought a new position in Ferrari in the 4th quarter valued at $41,000.

Ferrari Stock Performance

RACE opened at $354.77 on Friday. The company has a market capitalization of $83.00 billion, a price-to-earnings ratio of 34.04, a P/E/G ratio of 3.36 and a beta of 0.93. The business’s 50-day moving average price is $345.59 and its two-hundred day moving average price 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. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $519.10.

Analysts Set New Price Targets

RACE has been the topic of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a research report on Friday, April 10th. JPMorgan Chase & Co. raised their price target on Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Morgan Stanley set a $420.00 price target on Ferrari in a research report on Monday, February 16th. Jefferies Financial Group upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Ferrari in a research report on Tuesday, June 2nd. 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 company’s stock. According to MarketBeat.com, Ferrari has a consensus rating of “Moderate Buy” and a consensus target price of $469.06.

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.