SEB Asset Management AB Makes New Investment in Ferrari N.V. $RACE

SEB Asset Management AB purchased a new position in shares of Ferrari N.V. (NYSE:RACE) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 109,308 shares of the company’s stock, valued at approximately $36,398,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fideuram Asset Management Ireland dac purchased a new stake in shares of Ferrari in the fourth quarter valued at about $29,000. Entrust Financial LLC purchased a new position in Ferrari during the fourth quarter worth about $33,000. Bamco Inc. NY raised its stake in Ferrari by 790.9% during the fourth quarter. Bamco Inc. NY now owns 98 shares of the company’s stock worth $36,000 after purchasing an additional 87 shares during the period. Bellevue Asset Management LLC acquired a new position in Ferrari in the 1st quarter valued at about $34,000. Finally, CoreCap Advisors LLC boosted its holdings in Ferrari by 70.0% in the 4th quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock valued at $38,000 after purchasing an additional 42 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have recently weighed in on RACE. Sanford C. Bernstein reissued an “outperform” rating on shares of Ferrari in a research note on Tuesday, June 2nd. UBS Group lifted their price target on shares of Ferrari from $483.00 to $497.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Wolfe Research started coverage on Ferrari in a report on Tuesday, July 7th. They issued an “outperform” rating on the stock. Jefferies Financial Group upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Finally, Morgan Stanley raised Ferrari from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $388.00 to $438.00 in a research note on Monday, June 15th. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Ferrari has an average rating of “Moderate Buy” and a consensus target price of $471.97.

Ferrari Stock Performance

Shares of RACE stock opened at $377.68 on Monday. The firm has a 50 day moving average of $356.23 and a two-hundred day moving average of $352.46. The stock has a market capitalization of $88.36 billion, a PE ratio of 36.24, a P/E/G ratio of 3.23 and a beta of 0.92. The company has a quick ratio of 4.08, a current ratio of 5.20 and a debt-to-equity ratio of 0.72. Ferrari N.V. has a 52 week low of $312.51 and a 52 week high of $519.10.

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.