HighTower Advisors LLC Purchases 12,175 Shares of Ferrari N.V. $RACE

HighTower Advisors LLC lifted its position in shares of Ferrari N.V. (NYSE:RACE) by 94.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 25,068 shares of the company’s stock after buying an additional 12,175 shares during the quarter. HighTower Advisors LLC’s holdings in Ferrari were worth $9,284,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Westside Investment Management Inc. increased its position in shares of Ferrari by 100.0% during the third quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock valued at $27,000 after acquiring an additional 28 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of Ferrari during the third quarter valued at approximately $28,000. Community Bank N.A. bought a new stake in shares of Ferrari during the third quarter valued at approximately $33,000. Entrust Financial LLC bought a new stake in shares of Ferrari during the fourth quarter valued at approximately $33,000. Finally, CoreCap Advisors LLC increased its position in shares of Ferrari by 70.0% during the fourth quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock valued at $38,000 after acquiring an additional 42 shares in the last quarter.

More Ferrari News

Here are the key news stories impacting Ferrari this week:

• Positive Sentiment: Ferrari unveiled Luce, its first fully electric car, marking a major strategic milestone and showing the company is moving ahead of some luxury rivals that are slowing their EV plans. Ferrari bets on generational tech shift with Luce five-seat EV
• Positive Sentiment: Ferrari also continued its share repurchase program, which can help support earnings per share and signals management confidence in the business. FERRARI N.V.: PERIODIC REPORT ON THE BUYBACK PROGRAM
• Neutral Sentiment: Media reports suggest Ferrari may bring back the GTO nameplate and make the F80 even more hardcore, which adds to the brand’s performance halo but is not yet a concrete financial catalyst. Ferrari May Bring Back GTO And Build A More Hardcore F80
• Neutral Sentiment: Formula 1-related headlines, including comments that Ferrari is a threat to Antonelli’s winning streak and that Hamilton may have found “Ferrari magic,” help keep the brand in the spotlight but are unlikely to materially move the stock on their own. Motor racing – Antonelli sees Ferrari as big threat to his winning streak Motor racing – Hamilton unlocks Ferrari magic with Montreal breakthrough
• Negative Sentiment: Ferrari’s first fully electric model is entering a cautious EV market, and the company faces execution risk as it tries to prove luxury buyers will embrace a Ferrari without the traditional engine sound and feel. Ferrari’s Luce leads bold leap into uncertain electric era

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Citigroup upgraded shares of Ferrari from a “sell” rating to a “neutral” rating in a report on Thursday, February 12th. Morgan Stanley set a $420.00 target price on shares of Ferrari in a report on Monday, February 16th. Sanford C. Bernstein restated an “outperform” rating and issued a $410.00 target price on shares of Ferrari in a report on Wednesday, February 11th. Royal Bank Of Canada restated an “outperform” rating on shares of Ferrari in a report on Wednesday, February 11th. Finally, UBS Group dropped their target price on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $469.06.

Ferrari Trading Down 0.0%

Shares of RACE stock opened at $348.09 on Tuesday. Ferrari N.V. has a 12-month low of $312.51 and a 12-month high of $519.10. The company has a current ratio of 5.20, a quick ratio of 4.08 and a debt-to-equity ratio of 0.72. The firm’s 50 day moving average is $339.94 and its 200 day moving average is $359.48. The stock has a market capitalization of $81.43 billion, a P/E ratio of 33.40, a P/E/G ratio of 3.31 and a beta of 0.95.

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.