Barings LLC Sells 4,000 Shares of Ferrari N.V. $RACE

Barings LLC lowered its position in shares of Ferrari N.V. (NYSE:RACE) by 62.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,382 shares of the company’s stock after selling 4,000 shares during the period. Barings LLC’s holdings in Ferrari were worth $891,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Ferrari during the fourth quarter valued at about $779,894,000. Groupama Asset Managment increased its holdings in Ferrari by 5.7% during the 3rd quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock valued at $8,244,189,000 after purchasing an additional 916,821 shares during the period. Ninety One UK Ltd bought a new position in Ferrari during the 4th quarter valued at approximately $338,785,000. Viking Global Investors LP raised its position in Ferrari by 432.7% during the 2nd quarter. Viking Global Investors LP now owns 721,269 shares of the company’s stock valued at $353,526,000 after purchasing an additional 585,872 shares during the last quarter. Finally, Credit Agricole S A purchased a new stake in Ferrari in the 3rd quarter worth approximately $279,003,000.

Ferrari Trading Up 5.7%

NYSE RACE opened at $366.21 on Friday. The firm has a market capitalization of $85.67 billion, a PE ratio of 35.14, a P/E/G ratio of 3.28 and a beta of 0.93. The stock’s 50 day moving average is $345.35 and its 200 day moving average is $354.15. Ferrari N.V. has a twelve month low of $312.51 and a twelve month high of $519.10. The company has a quick ratio of 4.08, a current ratio of 5.20 and a debt-to-equity ratio of 0.72.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Sanford C. Bernstein reissued an “outperform” rating on shares of Ferrari in a research note on Tuesday, June 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research report on Friday, April 10th. Morgan Stanley set a $420.00 price objective on shares of Ferrari in a report on Monday, February 16th. JPMorgan Chase & Co. raised their target price on shares of Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Finally, UBS Group reduced their price target on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and an average target price of $469.06.

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.