BNP Paribas Arbitrage SNC grew its stake in shares of Ferrari (NYSE:RACE – Free Report) by 204.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 71,576 shares of the company’s stock after buying an additional 48,041 shares during the quarter. BNP Paribas Arbitrage SNC’s holdings in Ferrari were worth $23,277,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. raised its position in Ferrari by 5.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 4,125 shares of the company’s stock worth $900,000 after purchasing an additional 220 shares during the period. Private Advisor Group LLC increased its position in shares of Ferrari by 54.8% in the first quarter. Private Advisor Group LLC now owns 1,553 shares of the company’s stock valued at $339,000 after acquiring an additional 550 shares during the period. BlackRock Inc. increased its position in shares of Ferrari by 3.3% in the first quarter. BlackRock Inc. now owns 1,066,538 shares of the company’s stock valued at $232,602,000 after acquiring an additional 33,643 shares during the period. Cibc World Market Inc. increased its position in shares of Ferrari by 143.3% in the first quarter. Cibc World Market Inc. now owns 6,983 shares of the company’s stock valued at $1,523,000 after acquiring an additional 4,113 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Ferrari by 8.4% in the first quarter. Dimensional Fund Advisors LP now owns 67,953 shares of the company’s stock valued at $14,820,000 after acquiring an additional 5,286 shares during the period.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the stock. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 6th. UBS Group lifted their target price on shares of Ferrari from $368.00 to $375.00 and gave the company a “buy” rating in a research note on Friday, September 1st. Sanford C. Bernstein lifted their target price on shares of Ferrari from $250.00 to $300.00 and gave the company a “market perform” rating in a research note on Friday, August 18th. StockNews.com assumed coverage on shares of Ferrari in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Finally, Morgan Stanley lifted their target price on shares of Ferrari from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, November 3rd. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Ferrari has an average rating of “Moderate Buy” and an average target price of $311.69.
Ferrari Stock Performance
Shares of NYSE RACE opened at $354.01 on Friday. The firm’s 50 day moving average price is $308.76 and its 200-day moving average price is $307.62. Ferrari has a 52-week low of $209.88 and a 52-week high of $355.10. The company has a current ratio of 3.98, a quick ratio of 3.08 and a debt-to-equity ratio of 0.89.
Ferrari Company Profile
Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.
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