Ferrari N.V. $RACE Shares Sold by Allianz SE

Allianz SE lowered its position in Ferrari N.V. (NYSE:RACE) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,112 shares of the company’s stock after selling 2,280 shares during the quarter. Allianz SE’s holdings in Ferrari were worth $11,867,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Groupama Asset Managment boosted its stake in Ferrari by 5.7% in the 3rd quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock worth $8,244,189,000 after buying an additional 916,821 shares during the last quarter. Vanguard Group Inc. boosted its stake in Ferrari by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company’s stock worth $1,937,388,000 after buying an additional 58,506 shares during the last quarter. Amundi boosted its stake in Ferrari by 8.0% in the 3rd quarter. Amundi now owns 2,972,368 shares of the company’s stock worth $1,461,008,000 after buying an additional 219,909 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Ferrari by 27.5% in the 3rd quarter. Alliancebernstein L.P. now owns 2,379,261 shares of the company’s stock worth $1,154,465,000 after buying an additional 512,703 shares during the last quarter. Finally, Norges Bank acquired a new stake in Ferrari in the 4th quarter worth about $779,894,000.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. Morgan Stanley set a $420.00 price objective on Ferrari in a research note on Monday, February 16th. UBS Group reduced their price objective on Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Jefferies Financial Group raised Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Finally, JPMorgan Chase & Co. lifted their price objective on Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $469.06.

Ferrari Stock Performance

Shares of NYSE RACE opened at $354.77 on Friday. The business’s 50 day moving average is $345.59 and its two-hundred day moving average is $354.15. The company has a quick ratio of 4.08, a current ratio of 5.20 and a debt-to-equity ratio of 0.72. The company has a market cap of $83.00 billion, a P/E ratio of 34.04, a P/E/G ratio of 3.46 and a beta of 0.93. Ferrari N.V. has a 12 month low of $312.51 and a 12 month high of $519.10.

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.