Allspring Global Investments Holdings LLC lifted its position in Ferrari N.V. (NYSE:RACE - Free Report) by 21.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,080 shares of the company's stock after acquiring an additional 38,050 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.09% of Ferrari worth $73,296,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Benjamin Edwards Inc. increased its position in shares of Ferrari by 3.7% during the second quarter. Benjamin Edwards Inc. now owns 613 shares of the company's stock valued at $299,000 after acquiring an additional 22 shares during the last quarter. Pacific Sun Financial Corp lifted its stake in Ferrari by 2.5% in the third quarter. Pacific Sun Financial Corp now owns 1,008 shares of the company's stock valued at $489,000 after purchasing an additional 25 shares during the last quarter. Horizon Investments LLC grew its stake in shares of Ferrari by 33.3% during the 3rd quarter. Horizon Investments LLC now owns 104 shares of the company's stock worth $50,000 after acquiring an additional 26 shares during the period. Evergreen Capital Management LLC boosted its position in Ferrari by 1.4% during the second quarter. Evergreen Capital Management LLC now owns 1,928 shares of the company's stock worth $946,000 after purchasing an additional 26 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Ferrari by 14.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 222 shares of the company's stock worth $108,000 after purchasing an additional 28 shares in the last quarter.
Ferrari Price Performance
RACE stock opened at $377.68 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20. The firm has a market cap of $88.36 billion, a P/E ratio of 36.24, a P/E/G ratio of 3.28 and a beta of 0.92. The firm's fifty day moving average is $356.23 and its 200 day moving average is $352.62. Ferrari N.V. has a 52 week low of $312.51 and a 52 week high of $519.10.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. Jefferies Financial Group raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Tuesday, March 31st. Weiss Ratings reiterated a "hold (c)" rating on shares of Ferrari in a research note on Wednesday, July 8th. Morgan Stanley raised shares of Ferrari from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $388.00 to $438.00 in a report on Monday, June 15th. UBS Group increased 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 assumed coverage on Ferrari in a report on Tuesday, July 7th. They issued an "outperform" rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $471.97.
Check Out Our Latest Report on RACE
About Ferrari
(
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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