Ferrari N.V. $RACE Shares Sold by Groupama Asset Managment

Groupama Asset Managment lowered its stake in Ferrari N.V. (NYSE:RACE) by 99.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 103,838 shares of the company’s stock after selling 16,886,783 shares during the period. Groupama Asset Managment’s holdings in Ferrari were worth $38,374,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of RACE. Community Bank N.A. acquired a new position in shares of Ferrari in the 3rd quarter worth $33,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of Ferrari during the fourth quarter worth $29,000. Entrust Financial LLC purchased a new stake in shares of Ferrari during the fourth quarter valued at $33,000. Bamco Inc. NY lifted its holdings in shares of Ferrari by 790.9% during the fourth quarter. Bamco Inc. NY now owns 98 shares of the company’s stock valued at $36,000 after purchasing an additional 87 shares during the last quarter. Finally, CoreCap Advisors LLC boosted its position in shares of Ferrari by 70.0% in the 4th quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock valued at $38,000 after purchasing an additional 42 shares during the period.

Ferrari Stock Performance

Shares of RACE stock opened at $362.88 on Friday. The company has a market capitalization of $84.89 billion, a price-to-earnings ratio of 34.82, a P/E/G ratio of 3.38 and a beta of 0.93. Ferrari N.V. has a 1-year low of $312.51 and a 1-year high of $519.10. The company has a current ratio of 5.20, a quick ratio of 4.08 and a debt-to-equity ratio of 0.72. The stock’s fifty day simple moving average is $347.58 and its 200-day simple moving average is $353.34.

Analysts Set New Price Targets

RACE has been the topic of a number of analyst reports. Sanford C. Bernstein reissued an “outperform” rating on shares of Ferrari in a research note on Tuesday, June 2nd. Morgan Stanley raised shares of Ferrari from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $388.00 to $438.00 in a research note on Monday. JPMorgan Chase & Co. raised their target price on shares of Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. UBS Group dropped their target price on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Finally, Jefferies Financial Group upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $470.70.

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.