SEB Asset Management AB Makes New $36.40 Million Investment in Ferrari N.V. $RACE

Key Points

• SEB Asset Management AB initiated a new position in Ferrari during the first quarter, buying 109,308 shares valued at about $36.4 million.
• Several other institutional investors also increased their Ferrari holdings, while the stock continues to attract generally favorable analyst coverage. The consensus rating is Moderate Buy, with an average price target of $471.97.
• Ferrari shares opened at $377.68 and the company has a market cap of about $88.36 billion; its stock has traded between $312.51 and $519.10 over the past year.

SEB Asset Management AB bought a new position in shares of Ferrari N.V. (NYSE:RACE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 109,308 shares of the company's stock, valued at approximately $36,398,000.

A number of other institutional investors have also recently modified their holdings of RACE. Benjamin Edwards Inc. increased its stake in shares of Ferrari by 3.7% in the 2nd quarter. Benjamin Edwards Inc. now owns 613 shares of the company's stock valued at $299,000 after purchasing an additional 22 shares in the last quarter. Pacific Sun Financial Corp boosted its position in Ferrari by 2.5% during the third quarter. Pacific Sun Financial Corp now owns 1,008 shares of the company's stock worth $489,000 after purchasing an additional 25 shares in the last quarter. Horizon Investments LLC grew its holdings in Ferrari by 33.3% in the third quarter. Horizon Investments LLC now owns 104 shares of the company's stock valued at $50,000 after purchasing an additional 26 shares during the period. Evergreen Capital Management LLC increased its position in shares of Ferrari by 1.4% in the second quarter. Evergreen Capital Management LLC now owns 1,928 shares of the company's stock valued at $946,000 after buying an additional 26 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Ferrari by 14.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 222 shares of the company's stock worth $108,000 after buying an additional 28 shares during the period.

Wall Street Analyst Weigh In

RACE has been the topic of a number of recent analyst reports. Sanford C. Bernstein reiterated an "outperform" rating on shares of Ferrari in a research report on Tuesday, June 2nd. Morgan Stanley upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $388.00 to $438.00 in a research report on Monday, June 15th. Jefferies Financial Group raised shares of Ferrari from a "hold" rating to a "buy" rating in a report on Tuesday, March 31st. Weiss Ratings reiterated a "hold (c)" rating on shares of Ferrari in a research report on Wednesday, July 8th. Finally, UBS Group boosted their target price on shares of Ferrari from $483.00 to $497.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $471.97.

Ferrari Stock Performance

RACE opened at $377.68 on Monday. Ferrari N.V. has a twelve month low of $312.51 and a twelve month high of $519.10. The firm has a market capitalization of $88.36 billion, a PE ratio of 36.24, a PEG ratio of 3.23 and a beta of 0.92. The company has a current ratio of 5.20, a quick ratio of 4.08 and a debt-to-equity ratio of 0.72. The firm's 50-day moving average price is $356.23 and its 200 day moving average price is $352.46.

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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