Ferrari N.V. $RACE Shares Acquired by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. lifted its position in Ferrari N.V. (NYSE:RACE) by 1,811.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,288 shares of the company’s stock after purchasing an additional 3,116 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Ferrari were worth $1,113,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Groupama Asset Managment boosted its position in Ferrari by 5.7% in the third quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock valued at $8,244,189,000 after buying an additional 916,821 shares during the last quarter. Vanguard Group Inc. raised its position in Ferrari by 1.1% during 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 lifted its stake in Ferrari by 11.1% during the 4th quarter. Amundi now owns 3,303,264 shares of the company’s stock valued at $1,220,754,000 after acquiring an additional 330,896 shares during the period. Morgan Stanley lifted its stake in Ferrari by 43.4% during the 4th quarter. Morgan Stanley now owns 2,546,564 shares of the company’s stock valued at $941,109,000 after acquiring an additional 771,039 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in Ferrari by 27.5% during the 3rd quarter. Alliancebernstein L.P. now owns 2,379,261 shares of the company’s stock valued at $1,154,465,000 after acquiring an additional 512,703 shares during the period.

Ferrari Stock Up 0.0%

RACE opened at $376.78 on Monday. The company has a fifty day moving average of $352.36 and a two-hundred day moving average of $352.48. The stock has a market capitalization of $88.15 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 3.23 and a beta of 0.92. Ferrari N.V. has a fifty-two week low of $312.51 and a fifty-two week high of $519.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20.

Key Stories Impacting Ferrari

Here are the key news stories impacting Ferrari this week:

• Positive Sentiment: Mercedes boss Toto Wolff said Ferrari could challenge Mercedes for the rest of the F1 season, a comment that may boost sentiment around Ferrari’s competitive outlook and brand visibility. Toto Wolff warns Ferrari will challenge Mercedes for ‘rest of the F1 season’
• Positive Sentiment: Ferrari’s Madrid track filming day and its data-gathering efforts ahead of rivals highlight ongoing F1 development, which can support enthusiasm around the team’s performance momentum. First look: Ferrari gives Madrid track its F1 debut on filming day Ferrari begins gathering what could be crucial data ahead of its F1 rivals
• Neutral Sentiment: Several articles covered Ferrari cars in drag races and enthusiast content, which may help brand exposure but is unlikely to materially affect the stock. Is the Ferrari Pista faster than the Ferrari F8 Tributo in drag race? Lamborghini Revuelto faces Ferrari 296 GTB in drag race
• Negative Sentiment: An article on Ferrari’s Austria engine upgrade said the race exposed problems the update could not fix, which could weigh on sentiment if investors view it as a sign of persistent performance issues in F1. Ferrari brought an engine upgrade to Austria – then the race exposed everything it could not fix
• Negative Sentiment: Coverage of a Ferrari race car crash at Watkins Glen and a classic Mini destroying a tuned Ferrari in a drag race may be mildly negative for brand optics, though likely limited in financial impact. Ferrari race car crash at Watkins Glen during 130 mph run Classic Mini Destroys Tuned Ferrari 488 In Wild Drag Race Battle

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RACE. Wolfe Research began coverage on shares of Ferrari in a research note on Tuesday, July 7th. They issued an “outperform” rating on the stock. UBS Group boosted their target price on shares of Ferrari from $483.00 to $497.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ferrari in a report on Wednesday. Jefferies Financial Group raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Ferrari in a research report on Tuesday, June 2nd. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Ferrari has a consensus rating of “Moderate Buy” and a consensus target price of $471.97.

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.