Flossbach Von Storch SE Buys 7,745 Shares of Ferrari N.V. (NYSE:RACE)

Flossbach Von Storch SE grew its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 18.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,236 shares of the company's stock after purchasing an additional 7,745 shares during the period. Flossbach Von Storch SE's holdings in Ferrari were worth $20,886,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its stake in Ferrari by 8.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company's stock worth $4,307,000 after acquiring an additional 755 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Ferrari during the fourth quarter worth about $853,000. Zurich Insurance Group Ltd FI boosted its stake in Ferrari by 13.2% during the fourth quarter. Zurich Insurance Group Ltd FI now owns 79,796 shares of the company's stock worth $34,042,000 after acquiring an additional 9,274 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Ferrari by 2.6% during the fourth quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company's stock worth $54,847,000 after acquiring an additional 3,277 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in Ferrari by 144.3% during the fourth quarter. National Bank of Canada FI now owns 5,638 shares of the company's stock worth $2,400,000 after acquiring an additional 3,330 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Wall Street Zen cut shares of Ferrari from a "buy" rating to a "hold" rating in a report 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. 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 report on Thursday, March 27th. Finally, UBS Group lifted their target price on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $526.25.

Ferrari Stock Up 0.6%

RACE opened at $489.03 on Wednesday. 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 firm has a 50 day moving average price of $479.65 and a 200-day moving average price of $456.55. Ferrari N.V. has a twelve month low of $391.54 and a twelve month high of $509.13. The stock has a market capitalization of $118.53 billion, a price-to-earnings ratio of 51.75, a PEG ratio of 5.53 and a beta of 1.09.

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

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