Legal & General Group Plc Acquires 28,618 Shares of Ferrari N.V. $RACE

Legal & General Group Plc raised its holdings in Ferrari N.V. (NYSE:RACE) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 911,503 shares of the company’s stock after buying an additional 28,618 shares during the period. Legal & General Group Plc owned about 0.38% of Ferrari worth $341,040,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in shares of Ferrari by 63.7% in the third quarter. Bank of New York Mellon Corp now owns 2,670,762 shares of the company’s stock valued at $1,295,907,000 after purchasing an additional 1,039,234 shares during the last quarter. Groupama Asset Managment raised its holdings in shares of Ferrari by 5.7% in the third quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock valued at $8,244,189,000 after purchasing an additional 916,821 shares during the last quarter. Ninety One UK Ltd purchased a new stake in shares of Ferrari in the fourth quarter valued at about $338,785,000. Viking Global Investors LP raised its holdings in shares of Ferrari by 432.7% in the second quarter. Viking Global Investors LP now owns 721,269 shares of the company’s stock valued at $353,526,000 after purchasing an additional 585,872 shares during the last quarter. Finally, Credit Agricole S A purchased a new stake in shares of Ferrari in the third quarter valued at about $279,003,000.

Ferrari News Roundup

Here are the key news stories impacting Ferrari this week:

• Negative Sentiment: Ferrari’s first fully electric model, the Luce, drew heavy backlash over its looks and branding, with critics comparing it unfavorably to mass-market EVs and questioning whether the design undermines the company’s luxury image.
• Negative Sentiment: Investors appear worried that Ferrari’s move into EVs could dilute exclusivity or signal weaker demand for a luxury electric supercar, especially as rivals are pulling back from EV plans. Article Title
• Neutral Sentiment: Ferrari also said the Luce is a major technology milestone, with strong performance specs and a launch that broadens its product strategy, but this positive long-term framing has not offset the near-term selloff. Article Title
• Neutral Sentiment: Ferrari separately reported progress on its ongoing share buyback program, which is supportive for shareholders, but it was overshadowed by the EV launch reaction. Article Title

Ferrari Stock Performance

NYSE RACE opened at $330.67 on Wednesday. Ferrari N.V. has a 52-week low of $312.51 and a 52-week high of $519.10. The company has a 50-day simple moving average of $339.90 and a 200 day simple moving average of $358.95. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20. The company has a market capitalization of $77.36 billion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 3.31 and a beta of 0.95.

Analyst Ratings Changes

RACE has been the subject of several analyst reports. Zacks Research upgraded shares of Ferrari from a “strong sell” rating to a “hold” rating in a report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a report on Friday, April 10th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferrari in a report on Wednesday, February 11th. Morgan Stanley set a $420.00 target price on shares of Ferrari in a report on Monday, February 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Ferrari presently has an average rating of “Moderate Buy” and an average 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.