Infusive Asset Management Inc. Sells 4,584 Shares of Ferrari N.V. $RACE

Infusive Asset Management Inc. decreased its stake in Ferrari N.V. (NYSE:RACE) by 29.0% during the 1st quarter, HoldingsChannel reports. The fund owned 11,205 shares of the company’s stock after selling 4,584 shares during the period. Ferrari comprises approximately 1.8% of Infusive Asset Management Inc.’s portfolio, making the stock its 25th biggest holding. Infusive Asset Management Inc.’s holdings in Ferrari were worth $3,792,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Benjamin Edwards Inc. lifted its position in Ferrari by 3.7% in the second quarter. Benjamin Edwards Inc. now owns 613 shares of the company’s stock worth $299,000 after purchasing an additional 22 shares during the period. Pacific Sun Financial Corp increased its holdings in Ferrari by 2.5% in the 3rd quarter. Pacific Sun Financial Corp now owns 1,008 shares of the company’s stock valued at $489,000 after buying an additional 25 shares during the period. Horizon Investments LLC raised its stake in shares of Ferrari by 33.3% in the 3rd quarter. Horizon Investments LLC now owns 104 shares of the company’s stock valued at $50,000 after buying an additional 26 shares in the last quarter. Evergreen Capital Management LLC raised its stake in shares of Ferrari by 1.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,928 shares of the company’s stock valued at $946,000 after buying an additional 26 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Ferrari by 14.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 222 shares of the company’s stock worth $108,000 after acquiring an additional 28 shares during the period.

Ferrari Price Performance

RACE opened at $359.82 on Friday. Ferrari N.V. has a one year low of $312.51 and a one year high of $519.10. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.20 and a quick ratio of 4.08. The company’s 50 day simple moving average is $359.23 and its 200-day simple moving average is $352.39. The stock has a market capitalization of $84.18 billion, a P/E ratio of 34.53, a price-to-earnings-growth ratio of 3.19 and a beta of 0.92.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RACE. Wolfe Research initiated coverage on Ferrari in a research report on Tuesday, July 7th. They issued an “outperform” rating on the stock. Jefferies Financial Group upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Morgan Stanley raised shares of Ferrari from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $388.00 to $438.00 in a report on Monday, June 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a research report on Wednesday, July 8th. Finally, UBS Group increased their target price on shares of Ferrari from $483.00 to $497.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $471.97.

Ferrari Company 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.