Commerzbank Aktiengesellschaft FI decreased its stake in Ferrari N.V. (NYSE:RACE) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,673 shares of the company’s stock after selling 1,025 shares during the period. Commerzbank Aktiengesellschaft FI owned about 0.09% of Ferrari N.V. worth $15,111,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Ferrari N.V. by 4.0% in the first quarter. Vanguard Group Inc. now owns 3,104,885 shares of the company’s stock valued at $230,879,000 after buying an additional 120,305 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Ferrari N.V. by 102.8% in the first quarter. JPMorgan Chase & Co. now owns 1,830,812 shares of the company’s stock valued at $136,139,000 after buying an additional 928,230 shares in the last quarter. Credit Suisse AG raised its stake in Ferrari N.V. by 44.4% in the first quarter. Credit Suisse AG now owns 1,038,800 shares of the company’s stock valued at $77,246,000 after buying an additional 319,185 shares in the last quarter. AQR Capital Management LLC raised its stake in Ferrari N.V. by 272.9% in the first quarter. AQR Capital Management LLC now owns 934,215 shares of the company’s stock valued at $69,693,000 after buying an additional 683,686 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Ferrari N.V. by 4.3% in the first quarter. Bank of America Corp DE now owns 896,521 shares of the company’s stock valued at $66,665,000 after buying an additional 36,852 shares in the last quarter. Institutional investors own 29.78% of the company’s stock.

Shares of Ferrari N.V. (NYSE RACE) traded up 1.98% on Friday, reaching $116.76. 773,204 shares of the company traded hands. The firm has a 50-day moving average of $107.95 and a 200-day moving average of $85.67. Ferrari N.V. has a 52-week low of $46.39 and a 52-week high of $117.66. The company has a market capitalization of $22.06 billion, a PE ratio of 39.09 and a beta of 1.77.

Ferrari N.V. (NYSE:RACE) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.13. Ferrari N.V. had a return on equity of 128.49% and a net margin of 14.43%. The business had revenue of $1.01 billion during the quarter. On average, equities research analysts forecast that Ferrari N.V. will post $3.11 earnings per share for the current fiscal year.

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Several research firms recently commented on RACE. Evercore ISI boosted their price objective on shares of Ferrari N.V. from $46.00 to $105.00 and gave the stock an “in-line” rating in a research report on Friday. UBS AG reiterated a “buy” rating and issued a $125.00 price objective (up from $100.00) on shares of Ferrari N.V. in a research report on Wednesday, August 9th. Berenberg Bank reiterated a “buy” rating on shares of Ferrari N.V. in a research report on Monday, August 14th. Zacks Investment Research upgraded shares of Ferrari N.V. from a “hold” rating to a “buy” rating and set a $112.00 price objective on the stock in a research report on Saturday, July 22nd. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $100.00 price objective (up from $90.00) on shares of Ferrari N.V. in a research report on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Ferrari N.V. has an average rating of “Buy” and a consensus target price of $93.57.

About Ferrari N.V.

Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.

Institutional Ownership by Quarter for Ferrari N.V. (NYSE:RACE)

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