Aperio Group LLC raised its stake in shares of Ferrari N.V. (NYSE:RACE) by 21.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 119,003 shares of the company’s stock after buying an additional 21,123 shares during the period. Aperio Group LLC owned 0.06% of Ferrari N.V. worth $10,237,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Ferrari N.V. by 6.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,149 shares of the company’s stock valued at $125,000 after buying an additional 128 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Ferrari N.V. during the first quarter valued at approximately $127,000. PNC Financial Services Group Inc. increased its position in shares of Ferrari N.V. by 48.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,798 shares of the company’s stock valued at $135,000 after buying an additional 586 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Ferrari N.V. by 188.8% in the first quarter. Quadrant Capital Group LLC now owns 1,952 shares of the company’s stock valued at $136,000 after buying an additional 1,276 shares during the last quarter. Finally, M&T Bank Corp bought a new stake in Ferrari N.V. during the first quarter worth about $224,000. 32.87% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ferrari N.V. (RACE) traded up 2.09% on Friday, hitting $111.53. 672,917 shares of the stock traded hands. The stock has a market cap of $21.07 billion, a P/E ratio of 37.19 and a beta of 1.82. The stock’s 50 day moving average price is $101.02 and its 200 day moving average price is $82.09. Ferrari N.V. has a 52-week low of $46.39 and a 52-week high of $112.02.
Ferrari N.V. (NYSE:RACE) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.66 by $0.13. Ferrari N.V. had a return on equity of 128.49% and a net margin of 14.43%. The company had revenue of $1.01 billion during the quarter. On average, equities analysts expect that Ferrari N.V. will post $3.07 EPS for the current fiscal year.
RACE has been the subject of a number of research analyst reports. Bank of America Corporation lifted their price objective on shares of Ferrari N.V. from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, May 15th. UBS AG reissued a “buy” rating and issued a $100.00 price target (up from $92.00) on shares of Ferrari N.V. in a research note on Tuesday, July 11th. Jefferies Group LLC set a $96.00 price target on shares of Ferrari N.V. and gave the stock a “buy” rating in a research note on Saturday, May 6th. Zacks Investment Research raised shares of Ferrari N.V. from a “hold” rating to a “buy” rating and set a $112.00 price target for the company in a research note on Saturday, July 22nd. Finally, Berenberg Bank restated a “buy” rating on shares of Ferrari N.V. in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. Ferrari N.V. currently has an average rating of “Buy” and a consensus price target of $91.67.
About Ferrari N.V.
Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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