Banco Santander S.A. Boosts Position in Ferrari N.V. $RACE

Banco Santander S.A. lifted its stake in shares of Ferrari N.V. (NYSE:RACE) by 11.2% during the 4th quarter, Holdings Channel reports. The fund owned 642,921 shares of the company’s stock after buying an additional 64,797 shares during the quarter. Ferrari comprises 1.8% of Banco Santander S.A.’s portfolio, making the stock its 11th largest holding. Banco Santander S.A.’s holdings in Ferrari were worth $237,598,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC raised its position in Ferrari by 78.9% in the first 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 Ferrari by 31.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company’s stock valued at $82,000 after purchasing an additional 46 shares during the period. Woodline Partners LP purchased a new stake in Ferrari in the first quarter valued at approximately $1,519,000. Sivia Capital Partners LLC raised its position in Ferrari by 67.5% in the second quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock valued at $448,000 after purchasing an additional 368 shares during the period. Finally, Rhumbline Advisers increased its stake in Ferrari by 7.5% during the 2nd quarter. Rhumbline Advisers now owns 1,370 shares of the company’s stock worth $672,000 after buying an additional 96 shares during the period.

Ferrari Trading Down 3.0%

Shares of Ferrari stock opened at $354.77 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 quick ratio of 4.08 and a current ratio of 5.20. The company has a market capitalization of $83.00 billion, a P/E ratio of 34.04, a PEG ratio of 3.46 and a beta of 0.93. The company’s fifty day moving average is $345.59 and its two-hundred day moving average is $354.15.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RACE shares. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Ferrari in a research note on Tuesday, June 2nd. Jefferies Financial Group upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Morgan Stanley set a $420.00 price objective on Ferrari in a report on Monday, February 16th. UBS Group dropped their price objective on Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Finally, JPMorgan Chase & Co. raised their price objective on Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $469.06.

Ferrari Company 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.