William Blair Investment Management LLC Takes $55.13 Million Position in Ferrari N.V. $RACE

William Blair Investment Management LLC bought a new stake in Ferrari N.V. (NYSE:RACE) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 148,087 shares of the company’s stock, valued at approximately $55,131,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. AQR Capital Management LLC boosted its position in 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 acquiring an additional 1,574 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Ferrari by 31.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company’s stock valued at $82,000 after acquiring an additional 46 shares during the last quarter. Woodline Partners LP purchased a new position in Ferrari in the 1st quarter worth approximately $1,519,000. Sivia Capital Partners LLC lifted its stake in Ferrari by 67.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock worth $448,000 after purchasing an additional 368 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Ferrari by 7.5% during the 2nd quarter. Rhumbline Advisers now owns 1,370 shares of the company’s stock worth $672,000 after purchasing an additional 96 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RACE shares. Citigroup restated a “neutral” rating on shares of Ferrari in a research report on Monday, August 3rd. Sanford C. Bernstein lifted their price objective on Ferrari from $402.00 to $460.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Evercore reissued an “outperform” rating and set a $485.00 price objective on shares of Ferrari in a research note on Friday, July 31st. Morgan Stanley restated an “overweight” rating and issued a $442.00 target price on shares of Ferrari in a report on Friday, July 31st. Finally, Needham & Company LLC raised Ferrari to a “neutral” rating in a research note on Friday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $477.15.

Ferrari Trading Up 1.9%

Shares of Ferrari stock opened at $436.38 on Friday. The firm has a market capitalization of $102.09 billion, a price-to-earnings ratio of 40.51, a PEG ratio of 3.68 and a beta of 0.91. Ferrari N.V. has a fifty-two week low of $312.51 and a fifty-two week high of $504.49. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.70 and a current ratio of 4.85. The stock has a 50 day moving average of $384.67 and a 200 day moving average of $360.22.

Ferrari (NYSE:RACE) last posted its earnings results on Friday, July 31st. The company reported $2.99 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.16. Ferrari had a return on equity of 42.83% and a net margin of 22.29%.The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the business earned $2.38 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, research analysts predict that Ferrari N.V. will post 11.18 earnings per share for the current year.

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.