X Square Capital LLC Invests $2.14 Million in Ferrari N.V. $RACE

X Square Capital LLC purchased a new position in shares of Ferrari N.V. (NYSE:RACE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,788 shares of the company’s stock, valued at approximately $2,139,000.

A number of other hedge funds have also made changes to their positions in RACE. AQR Capital Management LLC grew its position in shares of Ferrari by 78.9% during the first quarter. AQR Capital Management LLC now owns 3,568 shares of the company’s stock worth $1,527,000 after buying an additional 1,574 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Ferrari by 31.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company’s stock worth $82,000 after buying an additional 46 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Ferrari during the first quarter worth approximately $1,519,000. Sivia Capital Partners LLC grew its position in shares of Ferrari by 67.5% during the second quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock worth $448,000 after buying an additional 368 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Ferrari by 7.5% during the second quarter. Rhumbline Advisers now owns 1,370 shares of the company’s stock worth $672,000 after buying an additional 96 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferrari in a report on Wednesday, February 11th. UBS Group decreased their price objective on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Ferrari in a report on Tuesday, June 2nd. Finally, Morgan Stanley set a $420.00 price objective on shares of Ferrari in a report on Monday, February 16th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $469.06.

Ferrari Stock Performance

Ferrari stock opened at $351.96 on Tuesday. The company has a market cap of $82.34 billion, a PE ratio of 33.77, a P/E/G ratio of 3.30 and a beta of 0.93. The company has a fifty day moving average price of $343.58 and a two-hundred day moving average price of $354.78. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.20 and a quick ratio of 4.08. Ferrari N.V. has a 12 month low of $312.51 and a 12 month high of $519.10.

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.