3,693 Shares in Ferrari N.V. $RACE Purchased by Capula Management Ltd

Capula Management Ltd acquired a new position in shares of Ferrari N.V. (NYSE:RACE) during the 1st quarter, HoldingsChannel reports. The institutional investor acquired 3,693 shares of the company’s stock, valued at approximately $1,232,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Ferrari during the fourth quarter valued at approximately $779,894,000. Ninety One UK Ltd acquired a new position in Ferrari in the 4th quarter worth approximately $338,785,000. Morgan Stanley grew its position in Ferrari by 43.4% during the 4th quarter. Morgan Stanley now owns 2,546,564 shares of the company’s stock worth $941,109,000 after purchasing an additional 771,039 shares in the last quarter. Viking Global Investors LP grew its position in Ferrari by 432.7% during the 2nd quarter. Viking Global Investors LP now owns 721,269 shares of the company’s stock worth $353,526,000 after purchasing an additional 585,872 shares in the last quarter. Finally, Credit Agricole S A purchased a new position in shares of Ferrari during the third quarter valued at $279,003,000.

Ferrari Price Performance

NYSE RACE opened at $359.82 on Friday. Ferrari N.V. has a fifty-two week low of $312.51 and a fifty-two week high of $519.10. The stock’s 50-day moving average is $359.23 and its two-hundred day moving average is $352.39. The firm has a market cap of $84.18 billion, a P/E ratio of 34.53, a price-to-earnings-growth ratio of 3.19 and a beta of 0.92. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.20 and a quick ratio of 4.08.

Wall Street Analyst Weigh In

RACE has been the subject of several research analyst reports. Sanford C. Bernstein reissued an “outperform” rating on shares of Ferrari in a research note on Tuesday, June 2nd. Jefferies Financial Group upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research report on Wednesday, July 8th. UBS Group upped their target price on Ferrari from $483.00 to $497.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Finally, Wolfe Research started coverage on Ferrari in a research note on Tuesday, July 7th. They set an “outperform” rating for the company. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Ferrari currently has an average rating of “Moderate Buy” and a consensus target price of $471.97.

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.