Fideuram Intesa Sanpaolo Private Banking S.P.A. Has $7.87 Million Stock Position in Ferrari N.V. $RACE

Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its stake in Ferrari N.V. (NYSE:RACE) by 19,935.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,241 shares of the company’s stock after purchasing an additional 23,125 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Ferrari were worth $7,866,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of RACE. Norges Bank acquired a new position in shares of Ferrari during the 4th quarter worth $779,894,000. Groupama Asset Managment boosted its stake in Ferrari by 5.7% in the third quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock valued at $8,244,189,000 after buying an additional 916,821 shares in the last quarter. Ninety One UK Ltd acquired a new stake in Ferrari in the fourth quarter valued at about $338,785,000. Morgan Stanley grew its position in Ferrari by 43.4% in the fourth quarter. Morgan Stanley now owns 2,546,564 shares of the company’s stock valued at $941,109,000 after acquiring an additional 771,039 shares during the last quarter. Finally, Viking Global Investors LP raised its stake in Ferrari by 432.7% during the second quarter. Viking Global Investors LP now owns 721,269 shares of the company’s stock worth $353,526,000 after acquiring an additional 585,872 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RACE. 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. Sanford C. Bernstein reiterated an “outperform” rating on shares of Ferrari in a report on Tuesday, June 2nd. Jefferies Financial Group raised Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. UBS Group upped their target price on Ferrari from $483.00 to $497.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Ferrari currently has an average rating of “Moderate Buy” and an average price target of $471.97.

Ferrari Stock Up 2.8%

Shares of NYSE:RACE opened at $385.23 on Friday. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $519.10. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.20 and a quick ratio of 4.08. The business’s 50-day moving average is $348.37 and its 200-day moving average is $352.05. The company has a market capitalization of $90.13 billion, a price-to-earnings ratio of 36.97, a P/E/G ratio of 3.58 and a beta of 0.92.

Ferrari Profile

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.