3,876 Shares in Ferrari N.V. $RACE Purchased by Diversify Wealth Management LLC

Diversify Wealth Management LLC bought a new position in shares of Ferrari N.V. (NYSE:RACE) during the first quarter, Holdings Channel reports. The fund bought 3,876 shares of the company’s stock, valued at approximately $1,308,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pittenger & Anderson Inc. grew its stake in shares of Ferrari by 1,811.6% in the 1st quarter. Pittenger & Anderson Inc. now owns 3,288 shares of the company’s stock valued at $1,113,000 after buying an additional 3,116 shares during the period. Fifth Third Bancorp raised its position in shares of Ferrari by 94.4% during the 1st quarter. Fifth Third Bancorp now owns 1,273 shares of the company’s stock valued at $431,000 after buying an additional 618 shares during the period. U S Global Investors Inc. raised its position in shares of Ferrari by 36.3% during the 1st quarter. U S Global Investors Inc. now owns 7,925 shares of the company’s stock valued at $2,682,000 after buying an additional 2,110 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Ferrari by 18.6% in the first quarter. Sequoia Financial Advisors LLC now owns 5,964 shares of the company’s stock valued at $2,018,000 after acquiring an additional 937 shares during the last quarter. Finally, AlpenGlobal Capital LLC acquired a new position in Ferrari in the first quarter valued at approximately $4,028,000.

Ferrari Stock Up 1.7%

Shares of NYSE RACE opened at $375.40 on Thursday. The company has a quick ratio of 4.08, a current ratio of 5.20 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $354.56 and its two-hundred day moving average is $352.41. Ferrari N.V. has a 52-week low of $312.51 and a 52-week high of $519.10. The firm has a market cap of $87.83 billion, a price-to-earnings ratio of 36.02, a PEG ratio of 3.17 and a beta of 0.92.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Sanford C. Bernstein reiterated an “outperform” rating on shares of Ferrari in a research report on Tuesday, June 2nd. Morgan Stanley raised Ferrari from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $388.00 to $438.00 in a research note on Monday, June 15th. Jefferies Financial Group raised Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a report on Wednesday, July 8th. Finally, Wolfe Research started coverage on Ferrari in a research report on Tuesday, July 7th. They set an “outperform” rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $471.97.

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.