Ferrari N.V. (NYSE:RACE) Stock Holdings Boosted by Banque Pictet & Cie SA

Banque Pictet & Cie SA grew its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 234.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,515 shares of the company's stock after purchasing an additional 5,265 shares during the quarter. Banque Pictet & Cie SA's holdings in Ferrari were worth $3,184,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in Ferrari by 8.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company's stock worth $4,307,000 after buying an additional 755 shares in the last quarter. Assetmark Inc. increased its position in shares of Ferrari by 17.8% during the fourth quarter. Assetmark Inc. now owns 1,826 shares of the company's stock worth $776,000 after acquiring an additional 276 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Ferrari in the fourth quarter worth about $27,657,000. Citizens Financial Group Inc. RI boosted its holdings in Ferrari by 4.4% in the fourth quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company's stock valued at $251,000 after purchasing an additional 25 shares during the last quarter. Finally, Prosperity Financial Group Inc. boosted its holdings in Ferrari by 14.3% in the fourth quarter. Prosperity Financial Group Inc. now owns 2,281 shares of the company's stock valued at $969,000 after purchasing an additional 286 shares during the last quarter.

Wall Street Analyst Weigh In

RACE has been the topic of several analyst reports. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Wall Street Zen lowered shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. UBS Group raised their price objective on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $526.25.

Ferrari Stock Performance

RACE stock traded down $7.43 during trading on Friday, hitting $490.51. 268,265 shares of the company's stock traded hands, compared to its average volume of 347,112. The stock has a market capitalization of $118.89 billion, a price-to-earnings ratio of 51.91, a price-to-earnings-growth ratio of 5.66 and a beta of 1.09. Ferrari N.V. has a 52 week low of $391.54 and a 52 week high of $509.13. The stock has a fifty day moving average price of $481.54 and a two-hundred day moving average price of $457.65. The company has a quick ratio of 4.04, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.36 by $0.06. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.82 billion. Ferrari had a net margin of 23.00% and a return on equity of 46.46%. The company's quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.95 EPS. As a group, equities analysts anticipate that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Ferrari Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.