Ferrari N.V. $RACE Shares Purchased by Aviva PLC

Aviva PLC grew its stake in shares of Ferrari N.V. (NYSE:RACE) by 33.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 276,705 shares of the company’s stock after acquiring an additional 68,986 shares during the quarter. Aviva PLC owned about 0.11% of Ferrari worth $103,084,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Groupama Asset Managment increased its holdings in shares of Ferrari by 5.7% during the third quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock valued at $8,244,189,000 after acquiring an additional 916,821 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Ferrari by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company’s stock valued at $1,937,388,000 after acquiring an additional 58,506 shares in the last quarter. Amundi increased its holdings in shares of Ferrari by 8.0% during the third quarter. Amundi now owns 2,972,368 shares of the company’s stock valued at $1,461,008,000 after acquiring an additional 219,909 shares in the last quarter. Alliancebernstein L.P. boosted its position in Ferrari by 27.5% in the third quarter. Alliancebernstein L.P. now owns 2,379,261 shares of the company’s stock valued at $1,154,465,000 after buying an additional 512,703 shares during the last quarter. Finally, Norges Bank purchased a new stake in Ferrari in the fourth quarter valued at approximately $779,894,000.

Ferrari Trading Up 5.7%

Ferrari stock opened at $366.21 on Friday. The company has a current ratio of 5.20, a quick ratio of 4.08 and a debt-to-equity ratio of 0.72. Ferrari N.V. has a 12 month low of $312.51 and a 12 month high of $519.10. The stock’s 50 day simple moving average is $345.35 and its two-hundred day simple moving average is $354.15. The firm has a market cap of $85.67 billion, a PE ratio of 35.14, a P/E/G ratio of 3.28 and a beta of 0.93.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RACE. Morgan Stanley set a $420.00 target price on Ferrari in a research report on Monday, February 16th. UBS Group dropped their target price on Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Sanford C. Bernstein reiterated an “outperform” rating on shares of Ferrari in a research report on Tuesday, June 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a research report on Friday, April 10th. Finally, Citigroup upgraded Ferrari from a “sell” rating to a “neutral” rating in a research report on Thursday, February 12th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $469.06.

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.