Fideuram Intesa Sanpaolo Private Banking S.P.A. Has $7.87 Million Stake in Ferrari N.V. $RACE

Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its position in Ferrari N.V. (NYSE:RACE) by 19,935.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,241 shares of the company’s stock after purchasing an additional 23,125 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Ferrari were worth $7,866,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Fideuram Asset Management Ireland dac acquired a new position in Ferrari during the fourth quarter worth $29,000. Community Bank N.A. acquired a new position in shares of Ferrari during the third quarter valued at about $33,000. Entrust Financial LLC acquired a new position in shares of Ferrari during the fourth quarter valued at about $33,000. Bellevue Asset Management LLC bought a new stake in shares of Ferrari during the first quarter worth about $34,000. Finally, Bamco Inc. NY increased its position in shares of Ferrari by 790.9% during the fourth 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.

Ferrari Stock Performance

Shares of Ferrari stock opened at $385.23 on Friday. The business’s fifty day simple moving average is $348.37 and its 200 day simple moving average is $352.05. The company has a current ratio of 5.20, a quick ratio of 4.08 and a debt-to-equity ratio of 0.72. Ferrari N.V. has a 12 month low of $312.51 and a 12 month high of $519.10. The firm has a market capitalization of $90.13 billion, a P/E ratio of 36.97, a price-to-earnings-growth ratio of 3.58 and a beta of 0.92.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ferrari in a research report on Friday, April 10th. Jefferies Financial Group raised Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Morgan Stanley upgraded Ferrari from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $388.00 to $438.00 in a report on Monday, June 15th. UBS Group upped their price target on Ferrari from $483.00 to $497.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Ferrari in a research report on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $471.97.

Ferrari 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.