Leonteq Securities AG Buys New Position in Ferrari N.V. $RACE

Leonteq Securities AG bought a new stake in shares of Ferrari N.V. (NYSE:RACE) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 14,158 shares of the company’s stock, valued at approximately $5,232,000.

Several other hedge funds have also modified their holdings of RACE. Bank of New York Mellon Corp raised its holdings in shares of Ferrari by 63.7% during the 3rd 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 buying an additional 1,039,234 shares during the period. Groupama Asset Managment grew its stake in Ferrari by 5.7% during the 3rd 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 in the last quarter. Ninety One UK Ltd acquired a new stake in Ferrari during the 4th quarter valued at approximately $338,785,000. Viking Global Investors LP grew its stake in Ferrari by 432.7% during the 2nd 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 in the last quarter. Finally, Credit Agricole S A acquired a new stake in Ferrari during the 3rd quarter valued at approximately $279,003,000.

Analyst Ratings Changes

A number of brokerages have weighed in on RACE. UBS Group lowered their price objective on Ferrari from $555.00 to $483.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. Citigroup upgraded Ferrari from a “sell” rating to a “neutral” rating in a research note on Thursday, February 12th. Royal Bank Of Canada restated an “outperform” rating on shares of Ferrari in a research note on Wednesday, February 11th. Finally, JPMorgan Chase & Co. raised their price objective on Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Ferrari has a consensus rating of “Moderate Buy” and an average price target of $469.06.

Ferrari Price Performance

Shares of RACE opened at $341.32 on Thursday. The firm has a market cap of $79.85 billion, a price-to-earnings ratio of 32.75, a PEG ratio of 3.15 and a beta of 0.95. The stock has a 50 day moving average of $339.46 and a 200-day moving average of $360.53. The company has a current ratio of 5.20, a quick ratio of 4.08 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 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.