Ferrari N.V. $RACE Shares Sold by DekaBank Deutsche Girozentrale

Key Points

• DekaBank Deutsche Girozentrale cut its Ferrari stake by 14.2% in the first quarter, selling 49,076 shares and leaving it with 296,770 shares valued at about $103.6 million.
• Ferrari shares were up 0.2% to $377.68, with the stock trading near a market cap of $88.36 billion and a 52-week range of $312.51 to $519.10.
• Analyst sentiment remains constructive: Ferrari has a Moderate Buy consensus rating, with a consensus price target of $471.97 after several recent upgrades and positive coverage.

DekaBank Deutsche Girozentrale trimmed its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 14.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 296,770 shares of the company's stock after selling 49,076 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.13% of Ferrari worth $103,612,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its stake in shares of Ferrari by 78.9% in the 1st quarter. AQR Capital Management LLC now owns 3,568 shares of the company's stock valued at $1,527,000 after purchasing an additional 1,574 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Ferrari by 31.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company's stock worth $82,000 after purchasing an additional 46 shares during the last quarter. Woodline Partners LP purchased a new stake in Ferrari in the 1st quarter valued at about $1,519,000. Sivia Capital Partners LLC raised its holdings in Ferrari by 67.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 913 shares of the company's stock valued at $448,000 after buying an additional 368 shares during the period. Finally, Rhumbline Advisers lifted its position in Ferrari by 7.5% in the second quarter. Rhumbline Advisers now owns 1,370 shares of the company's stock valued at $672,000 after buying an additional 96 shares during the last quarter.

Ferrari Stock Up 0.2%

Shares of NYSE:RACE opened at $377.68 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.20 and a quick ratio of 4.08. The firm has a market capitalization of $88.36 billion, a PE ratio of 36.24, a price-to-earnings-growth ratio of 3.23 and a beta of 0.92. The firm's 50-day moving average is $356.23 and its two-hundred day moving average is $352.46. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $519.10.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RACE. UBS Group upped their price objective on shares of Ferrari from $483.00 to $497.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Wolfe Research began coverage on shares of Ferrari in a report on Tuesday, July 7th. They issued an "outperform" rating for the company. Jefferies Financial Group raised Ferrari from a "hold" rating to a "buy" rating in a research report on Tuesday, March 31st. Sanford C. Bernstein restated an "outperform" rating on shares of Ferrari in a research note on Tuesday, June 2nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Ferrari in a research report on Wednesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $471.97.

About Ferrari

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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