Ferrari N.V. $RACE Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC raised its holdings in Ferrari N.V. (NYSE:RACE) by 21.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 47,792 shares of the company’s stock after acquiring an additional 8,590 shares during the period. Intech Investment Management LLC’s holdings in Ferrari were worth $17,888,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in RACE. AQR Capital Management LLC increased its stake in Ferrari by 78.9% in the first quarter. AQR Capital Management LLC now owns 3,568 shares of the company’s stock valued at $1,527,000 after purchasing an additional 1,574 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Ferrari by 31.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company’s stock worth $82,000 after buying an additional 46 shares during the last quarter. Woodline Partners LP purchased a new stake in Ferrari in the 1st quarter valued at about $1,519,000. Sivia Capital Partners LLC increased its stake in shares of Ferrari by 67.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock valued at $448,000 after acquiring an additional 368 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Ferrari by 7.5% during the 2nd quarter. Rhumbline Advisers now owns 1,370 shares of the company’s stock valued at $672,000 after acquiring an additional 96 shares during the last quarter.

Key Headlines Impacting Ferrari

Here are the key news stories impacting Ferrari this week:

• Positive Sentiment: CEO Benedetto Vigna said the Ferrari Luce is already receiving orders, suggesting the company may be able to monetize its first EV despite the backlash. Article Title
• Positive Sentiment: Ferrari is defending the Luce’s premium pricing as justified by innovation and brand exclusivity, which may reassure investors that the company can protect margins. Article Title
• Neutral Sentiment: Media coverage and social media reactions have been highly polarized, with some criticism of the EV’s styling and “californian” feel, but the attention also keeps Ferrari in the spotlight. Article Title
• Negative Sentiment: The initial Luce unveiling triggered investor backlash and a sharp share-price decline earlier this week, with critics arguing the design and price could alienate Ferrari’s core buyers. Article Title

Ferrari Stock Up 3.9%

Shares of NYSE:RACE opened at $346.32 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $519.10. The stock has a market capitalization of $81.02 billion, a P/E ratio of 33.23, a PEG ratio of 3.17 and a beta of 0.95. The stock has a 50-day simple moving average of $340.07 and a 200-day simple moving average of $357.97.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein reissued an “outperform” rating and issued a $410.00 target price on shares of Ferrari in a research report on Wednesday, February 11th. Citigroup raised shares of Ferrari from a “sell” rating to a “neutral” rating in a research note on Thursday, February 12th. UBS Group decreased their price target on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. Finally, Zacks Research upgraded Ferrari from a “strong sell” rating to a “hold” rating in a report on Monday, February 2nd. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Ferrari has a consensus rating of “Moderate Buy” and a consensus price target of $469.06.

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.