Axa Has $7.29 Million Holdings in Ferrari N.V. (RACE)
Axa grew its position in shares of Ferrari N.V. (NYSE:RACE) by 428.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,784 shares of the company’s stock after purchasing an additional 68,742 shares during the period. Axa’s holdings in Ferrari N.V. were worth $7,293,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in shares of Ferrari N.V. by 124.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 811,847 shares of the company’s stock worth $69,836,000 after purchasing an additional 449,795 shares during the last quarter. FMR LLC boosted its stake in shares of Ferrari N.V. by 4.6% during the 1st quarter. FMR LLC now owns 126,742 shares of the company’s stock worth $9,424,000 after purchasing an additional 5,620 shares during the last quarter. Geode Capital Management LLC acquired a new stake in shares of Ferrari N.V. during the 1st quarter worth about $1,005,000. KCG Holdings Inc. acquired a new stake in shares of Ferrari N.V. during the 1st quarter worth about $356,000. Finally, Bank of America Corp DE boosted its stake in shares of Ferrari N.V. by 4.3% during the 1st quarter. Bank of America Corp DE now owns 896,521 shares of the company’s stock worth $66,665,000 after purchasing an additional 36,852 shares during the last quarter. 29.78% of the stock is currently owned by institutional investors.
Several research firms have issued reports on RACE. UBS AG reaffirmed a “buy” rating and set a $125.00 price target (up from $100.00) on shares of Ferrari N.V. in a research note on Thursday, August 3rd. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Ferrari N.V. in a report on Wednesday. They set a “neutral” rating and a $131.00 price objective on the stock. Evercore ISI increased their price objective on shares of Ferrari N.V. from $46.00 to $105.00 and gave the stock an “in-line” rating in a report on Friday, September 1st. Berenberg Bank reiterated a “buy” rating on shares of Ferrari N.V. in a report on Monday, August 14th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $100.00 price objective (up from $90.00) on shares of Ferrari N.V. in a report on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $101.75.
Ferrari N.V. (NYSE:RACE) opened at 109.14 on Friday. Ferrari N.V. has a one year low of $46.39 and a one year high of $118.10. The stock has a market capitalization of $20.62 billion, a price-to-earnings ratio of 36.54 and a beta of 1.78. The stock’s 50 day moving average is $111.08 and its 200 day moving average is $88.27.
Ferrari N.V. (NYSE:RACE) last released its earnings results on Wednesday, August 2nd. The company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.13. Ferrari N.V. had a return on equity of 128.49% and a net margin of 14.43%. The company had revenue of $1.01 billion for the quarter. On average, equities analysts forecast that Ferrari N.V. will post $3.23 EPS for the current year.
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About Ferrari N.V.
Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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