Banque Pictet & Cie SA Increases Stake in Ferrari N.V. (NYSE:RACE)

Banque Pictet & Cie SA boosted its position in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 234.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,515 shares of the company's stock after purchasing an additional 5,265 shares during the period. Banque Pictet & Cie SA's holdings in Ferrari were worth $3,184,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. HBK Sorce Advisory LLC grew its holdings in Ferrari by 3.6% during the 4th quarter. HBK Sorce Advisory LLC now owns 626 shares of the company's stock valued at $266,000 after purchasing an additional 22 shares during the last quarter. Citizens Financial Group Inc. RI grew its stake in Ferrari by 4.4% in the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company's stock worth $251,000 after acquiring an additional 25 shares in the last quarter. Garde Capital Inc. grew its stake in Ferrari by 5.0% in the 4th quarter. Garde Capital Inc. now owns 525 shares of the company's stock worth $223,000 after acquiring an additional 25 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in Ferrari by 3.9% in the 1st quarter. Rehmann Capital Advisory Group now owns 697 shares of the company's stock worth $299,000 after acquiring an additional 26 shares in the last quarter. Finally, PDS Planning Inc grew its stake in Ferrari by 4.8% in the 4th quarter. PDS Planning Inc now owns 589 shares of the company's stock worth $250,000 after acquiring an additional 27 shares in the last quarter.

Ferrari Stock Performance

Shares of NYSE RACE traded up $6.92 during midday trading on Thursday, reaching $497.93. The company had a trading volume of 316,231 shares, compared to its average volume of 346,917. The business's 50-day simple moving average is $480.24 and its 200 day simple moving average is $456.79. The stock has a market cap of $120.69 billion, a P/E ratio of 52.69, a P/E/G ratio of 5.56 and a beta of 1.09. Ferrari N.V. has a 1 year low of $391.54 and a 1 year high of $509.13. The company has a current ratio of 5.09, a quick ratio of 4.04 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE - Get Free Report) last released 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 company had revenue of $1.94 billion for 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 firm's revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business earned $1.95 earnings per share. On average, analysts forecast that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.