Envestnet Asset Management Inc. Has $113.70 Million Holdings in Ferrari N.V. $RACE

Envestnet Asset Management Inc. grew its holdings in Ferrari N.V. (NYSE:RACE) by 6.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 234,470 shares of the company’s stock after acquiring an additional 14,328 shares during the quarter. Envestnet Asset Management Inc. owned 0.10% of Ferrari worth $113,704,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Ferrari by 31.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company’s stock valued at $82,000 after buying an additional 46 shares during the last quarter. Woodline Partners LP bought a new stake in shares of Ferrari in the first quarter valued at about $1,519,000. Sivia Capital Partners LLC grew its position in Ferrari by 67.5% during the second quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock worth $448,000 after buying an additional 368 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in Ferrari during the second quarter valued at about $67,000.

Ferrari Price Performance

Shares of Ferrari stock opened at $334.32 on Friday. The stock has a market capitalization of $81.03 billion, a price-to-earnings ratio of 33.77, a P/E/G ratio of 3.63 and a beta of 0.99. The firm’s 50-day moving average price is $362.37 and its two-hundred day moving average price is $416.29. The company has a current ratio of 4.90, a quick ratio of 3.78 and a debt-to-equity ratio of 0.76. Ferrari N.V. has a 1-year low of $328.00 and a 1-year high of $519.10.

Analyst Ratings Changes

Several brokerages have recently weighed in on RACE. The Goldman Sachs Group raised Ferrari to a “strong-buy” rating in a report on Monday, November 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ferrari in a research note on Monday, December 29th. Loop Capital set a $481.67 price target on shares of Ferrari in a report on Thursday, December 4th. Evercore reduced their price objective on shares of Ferrari from $580.00 to $475.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Ferrari from $460.00 to $457.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 12th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $480.67.

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.