San Francisco Sentry Investment Group CA lifted its stake in Ferrari NV (NYSE:RACE) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,523 shares of the company’s stock after purchasing an additional 116 shares during the quarter. San Francisco Sentry Investment Group CA’s holdings in Ferrari were worth $851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. raised its position in Ferrari by 74.5% in the 2nd quarter. BlackRock Inc. now owns 991,102 shares of the company’s stock worth $159,984,000 after buying an additional 423,139 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Ferrari by 786.1% during the 2nd quarter. Marshall Wace LLP now owns 377,188 shares of the company’s stock valued at $61,309,000 after purchasing an additional 334,622 shares during the period. Invesco Ltd. grew its stake in shares of Ferrari by 1,316.2% during the 2nd quarter. Invesco Ltd. now owns 320,497 shares of the company’s stock valued at $51,735,000 after purchasing an additional 297,866 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Ferrari during the 3rd quarter valued at about $32,218,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Ferrari by 1.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,668,282 shares of the company’s stock valued at $1,399,234,000 after purchasing an additional 141,547 shares during the period. 36.38% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:RACE opened at $155.85 on Friday. The stock has a 50 day moving average of $154.15 and a 200 day moving average of $151.97. The company has a market cap of $29.45 billion, a PE ratio of 38.77, a price-to-earnings-growth ratio of 2.35 and a beta of 1.34. The company has a current ratio of 3.77, a quick ratio of 3.20 and a debt-to-equity ratio of 1.48. Ferrari NV has a 12-month low of $93.85 and a 12-month high of $170.54.
Ferrari (NYSE:RACE) last announced its quarterly earnings data on Friday, August 2nd. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.06. Ferrari had a return on equity of 50.99% and a net margin of 23.42%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.08 billion. Equities research analysts predict that Ferrari NV will post 4.09 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on RACE shares. Morgan Stanley set a $175.00 price target on Ferrari and gave the company a “buy” rating in a research note on Wednesday, September 4th. Societe Generale upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Bank of America boosted their price objective on Ferrari from $150.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Zacks Investment Research upgraded Ferrari from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, UBS Group boosted their price objective on Ferrari from $160.00 to $187.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Ferrari presently has an average rating of “Buy” and an average price target of $173.29.
Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
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