Ferrari N.V. $RACE Position Lessened by Infusive Asset Management Inc.

Infusive Asset Management Inc. reduced its position in Ferrari N.V. (NYSE:RACE) by 29.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,205 shares of the company’s stock after selling 4,584 shares during the period. Ferrari comprises about 1.8% of Infusive Asset Management Inc.’s holdings, making the stock its 25th largest position. Infusive Asset Management Inc.’s holdings in Ferrari were worth $3,792,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC raised its position in Ferrari by 78.9% during the first quarter. AQR Capital Management LLC now owns 3,568 shares of the company’s stock valued at $1,527,000 after acquiring an additional 1,574 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Ferrari by 31.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company’s stock worth $82,000 after acquiring an additional 46 shares in the last quarter. Woodline Partners LP acquired a new position in shares of Ferrari during the 1st quarter worth $1,519,000. Sivia Capital Partners LLC increased its stake in shares of Ferrari by 67.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock worth $448,000 after purchasing an additional 368 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Ferrari by 7.5% during the 2nd quarter. Rhumbline Advisers now owns 1,370 shares of the company’s stock valued at $672,000 after purchasing an additional 96 shares in the last quarter.

Analysts Set New Price Targets

RACE has been the subject of a number of recent research reports. Jefferies Financial Group upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Wolfe Research assumed coverage on Ferrari in a research report on Tuesday, July 7th. They issued an “outperform” rating for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a research note on Wednesday, July 8th. Sanford C. Bernstein reissued an “outperform” rating on shares of Ferrari in a report on Tuesday, June 2nd. Finally, Morgan Stanley upgraded Ferrari from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $388.00 to $438.00 in a report on Monday, June 15th. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ferrari has an average rating of “Moderate Buy” and a consensus price target of $471.97.

Ferrari Stock Down 3.2%

Ferrari stock opened at $359.82 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.20 and a quick ratio of 4.08. Ferrari N.V. has a fifty-two week low of $312.51 and a fifty-two week high of $519.10. The firm has a fifty day moving average price of $359.23 and a two-hundred day moving average price of $352.39. The firm has a market cap of $84.18 billion, a price-to-earnings ratio of 34.53, a P/E/G ratio of 3.19 and a beta of 0.92.

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.