Ferrari N.V. $RACE Shares Bought by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG grew its stake in Ferrari N.V. (NYSE:RACE) by 158.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,446 shares of the company’s stock after acquiring an additional 30,890 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Ferrari were worth $16,776,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Fideuram Asset Management Ireland dac purchased a new stake in Ferrari in the fourth quarter valued at $29,000. Community Bank N.A. acquired a new position in Ferrari during the 3rd quarter worth $33,000. Entrust Financial LLC purchased a new stake in shares of Ferrari during the fourth quarter worth approximately $33,000. Bellevue Asset Management LLC acquired a new stake in shares of Ferrari in the 1st quarter valued at $34,000. Finally, Bamco Inc. NY boosted its position in shares of Ferrari by 790.9% during the 4th quarter. Bamco Inc. NY now owns 98 shares of the company’s stock worth $36,000 after acquiring an additional 87 shares in the last quarter.

Wall Street Analyst Weigh In

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

Ferrari Stock Performance

Ferrari stock opened at $376.78 on Monday. 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. The company has a fifty day moving average price of $352.36 and a two-hundred day moving average price of $352.48. The company has a market cap of $88.15 billion, a PE ratio of 36.16, a P/E/G ratio of 3.23 and a beta of 0.92.

More Ferrari News

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

About Ferrari

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.