Ferrari N.V. $RACE Shares Acquired by Generate Investment Management Ltd

Generate Investment Management Ltd boosted its holdings in Ferrari N.V. (NYSE:RACE) by 45.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,196 shares of the company’s stock after acquiring an additional 11,707 shares during the period. Generate Investment Management Ltd’s holdings in Ferrari were worth $14,612,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Anchor Investment Management LLC boosted its position in Ferrari by 1,625.0% during the 2nd quarter. Anchor Investment Management LLC now owns 69 shares of the company’s stock valued at $26,000 after purchasing an additional 65 shares during the period. Bellevue Asset Management LLC bought a new position in Ferrari in the 1st quarter worth about $34,000. Grove Bank & Trust raised its holdings in shares of Ferrari by 51.5% during the third quarter. Grove Bank & Trust now owns 100 shares of the company’s stock valued at $39,000 after buying an additional 34 shares during the last quarter. Dunhill Financial LLC acquired a new stake in Ferrari in the 2nd quarter valued at approximately $38,000. Finally, Ameritas Advisory Services LLC bought a new stake in Ferrari during the 2nd quarter valued at $38,000.

Ferrari Price Performance

RACE stock traded down $4.35 on Wednesday, hitting $387.25. 197,204 shares of the company’s stock traded hands, compared to its average volume of 600,726. The stock has a market cap of $90.60 billion, a price-to-earnings ratio of 35.96, a P/E/G ratio of 3.35 and a beta of 0.93. Ferrari N.V. has a 1-year low of $312.51 and a 1-year high of $437.15. The company has a current ratio of 4.85, a quick ratio of 3.70 and a debt-to-equity ratio of 0.86. The stock has a fifty day moving average of $408.03 and a 200-day moving average of $374.42.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Friday, July 31st. The company reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.16. Ferrari had a return on equity of 42.83% and a net margin of 22.29%. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the prior year, the company earned $2.38 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. On average, analysts forecast that Ferrari N.V. will post 11.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RACE. Evercore reaffirmed an “outperform” rating and issued a $485.00 price objective on shares of Ferrari in a report on Friday, July 31st. Royal Bank Of Canada restated a “buy” rating on shares of Ferrari in a research report on Monday, September 21st. Sanford C. Bernstein reiterated a “buy” rating on shares of Ferrari in a research note on Tuesday, September 29th. Banca Akros cut Ferrari to a “neutral” rating in a research report on Monday, August 24th. Finally, Morgan Stanley dropped their price objective on Ferrari from $460.00 to $456.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $464.74.

Ferrari Profile

Ferrari N.V. is an Italian luxury automotive company that designs, develops, manufactures and sells high-performance sports cars. Its product portfolio includes mid- and front-engine sports cars, grand touring models, special-series vehicles and limited-edition automobiles. Ferrari also develops hybrid and other electrified models while maintaining a focus on performance, craftsmanship, design and exclusivity.

The company generates additional activities through its racing operations, vehicle personalization programs, financial services, merchandise, licensing and branded experiences.