Pictet Asset Management Holding SA Purchases 6,174 Shares of Ferrari N.V. $RACE

Pictet Asset Management Holding SA increased its position in shares of Ferrari N.V. (NYSE:RACE) by 1.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 333,661 shares of the company’s stock after purchasing an additional 6,174 shares during the period. Pictet Asset Management Holding SA owned 0.14% of Ferrari worth $111,279,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RACE. HighTower Advisors LLC increased its holdings in Ferrari by 94.4% in the 4th quarter. HighTower Advisors LLC now owns 25,068 shares of the company’s stock valued at $9,284,000 after acquiring an additional 12,175 shares during the last quarter. Deutsche Bank AG boosted its stake in Ferrari by 3.9% during the fourth quarter. Deutsche Bank AG now owns 973,583 shares of the company’s stock valued at $359,797,000 after buying an additional 36,670 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in Ferrari by 3.3% during the third quarter. CIBC Private Wealth Group LLC now owns 183,917 shares of the company’s stock valued at $89,077,000 after buying an additional 5,958 shares during the last quarter. Vanguard Group Inc. grew its holdings in Ferrari by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company’s stock valued at $1,937,388,000 after buying an additional 58,506 shares in the last quarter. Finally, Value Partners Investments Inc. raised its holdings in shares of Ferrari by 99.3% during the 4th quarter. Value Partners Investments Inc. now owns 20,072 shares of the company’s stock worth $7,419,000 after acquiring an additional 10,000 shares in the last quarter.

Ferrari Stock Down 0.2%

NYSE RACE opened at $367.78 on Monday. 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. The firm has a market capitalization of $86.04 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 3.51 and a beta of 0.93. The company has a fifty day moving average of $347.55 and a two-hundred day moving average of $351.85.

Analysts Set New Price Targets

Several brokerages recently weighed in on RACE. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a research report on Friday, April 10th. JPMorgan Chase & Co. lifted their price objective on shares of Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. UBS Group reduced their target price 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. Morgan Stanley upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $388.00 to $438.00 in a research report on Monday, June 15th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Ferrari in a research report on Tuesday, June 2nd. Three 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. Based on data from MarketBeat, Ferrari has an average rating of “Moderate Buy” and a consensus price target of $470.70.

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.