DekaBank Deutsche Girozentrale Purchases 1,801 Shares of Ferrari N.V. (NYSE:RACE)

DekaBank Deutsche Girozentrale raised its position in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 0.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 295,571 shares of the company's stock after purchasing an additional 1,801 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.12% of Ferrari worth $125,002,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Park Square Financial Group LLC bought a new position in shares of Ferrari during the 4th quarter valued at approximately $32,000. Alpine Bank Wealth Management bought a new position in shares of Ferrari during the 1st quarter valued at approximately $33,000. Webster Bank N. A. bought a new position in shares of Ferrari during the 1st quarter valued at approximately $43,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Ferrari in the 1st quarter worth approximately $48,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ferrari by 60.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 148 shares of the company's stock worth $63,000 after purchasing an additional 56 shares in the last quarter.

Ferrari Stock Up 0.2%

Shares of NYSE RACE traded up $1.20 during mid-day trading on Tuesday, reaching $487.52. 30,214 shares of the company were exchanged, compared to its average volume of 344,093. The company has a quick ratio of 4.04, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The stock has a market cap of $118.16 billion, a price-to-earnings ratio of 51.58, a P/E/G ratio of 5.58 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 firm has a 50-day moving average of $479.12 and a 200 day moving average of $456.33.

Ferrari (NYSE:RACE - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.06. The firm had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.82 billion. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. The firm's quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.95 EPS. On average, research analysts expect that Ferrari N.V. will post 9.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wall Street Zen cut Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. decreased their price objective on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Finally, UBS Group upped their price objective on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus 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.

Want to see what other hedge funds are holding RACE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferrari N.V. (NYSE:RACE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.