Flossbach Von Storch SE Has $20.89 Million Stock Holdings in 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% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,236 shares of the company's stock after purchasing an additional 7,745 shares during the quarter. Flossbach Von Storch SE's holdings in Ferrari were worth $20,886,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of Ferrari during the 4th quarter valued at $697,226,000. Price T Rowe Associates Inc. MD increased its position in shares of Ferrari by 49.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock valued at $763,125,000 after purchasing an additional 594,547 shares during the period. Barclays PLC increased its position in shares of Ferrari by 198.0% during the 4th quarter. Barclays PLC now owns 853,971 shares of the company's stock valued at $362,802,000 after purchasing an additional 567,407 shares during the period. Marshall Wace LLP increased its position in shares of Ferrari by 62.1% during the 4th quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock valued at $579,561,000 after purchasing an additional 520,337 shares during the period. Finally, Corient Private Wealth LLC increased its position in shares of Ferrari by 1,226.4% during the 4th quarter. Corient Private Wealth LLC now owns 132,694 shares of the company's stock valued at $56,153,000 after purchasing an additional 122,690 shares during the period.

Ferrari Stock Up 0.4%

NYSE RACE traded up $1.94 during trading on Wednesday, hitting $490.97. 198,437 shares of the company traded hands, compared to its average volume of 345,408. Ferrari N.V. has a 12 month low of $391.54 and a 12 month high of $509.13. The business has a fifty day simple moving average of $479.65 and a 200 day simple moving average of $456.55. The company has a current ratio of 5.09, a quick ratio of 4.04 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $119.00 billion, a P/E ratio of 51.95, a PEG ratio of 5.53 and a beta of 1.09.

Ferrari (NYSE:RACE - Get Free Report) last posted its earnings results 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. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.82 billion. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. The business's revenue was up 13.0% compared to the same quarter last year. During the same period last year, the company earned $1.95 earnings per share. As a group, sell-side analysts predict that Ferrari N.V. will post 9.22 EPS for the current year.

Analyst Upgrades and Downgrades

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