Vontobel Holding Ltd. Has $208.60 Million Stock Holdings in Ferrari N.V. $RACE

Vontobel Holding Ltd. raised its stake in Ferrari N.V. (NYSE:RACE) by 314.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 557,868 shares of the company’s stock after buying an additional 423,359 shares during the quarter. Vontobel Holding Ltd.’s holdings in Ferrari were worth $208,595,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Groupama Asset Managment increased its stake in Ferrari by 5.7% in the 3rd quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock valued at $8,244,189,000 after buying an additional 916,821 shares during the period. Vanguard Group Inc. increased its stake in Ferrari by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company’s stock valued at $1,937,388,000 after buying an additional 58,506 shares during the period. Amundi increased its stake in Ferrari by 8.0% in the 3rd quarter. Amundi now owns 2,972,368 shares of the company’s stock valued at $1,461,008,000 after buying an additional 219,909 shares during the period. Alliancebernstein L.P. increased its stake in Ferrari by 27.5% in the 3rd quarter. Alliancebernstein L.P. now owns 2,379,261 shares of the company’s stock valued at $1,154,465,000 after buying an additional 512,703 shares during the period. Finally, Norges Bank acquired a new position in Ferrari in the 4th quarter valued at approximately $779,894,000.

Ferrari Stock Performance

RACE stock opened at $354.77 on Friday. The company has a quick ratio of 4.08, a current ratio of 5.20 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $83.00 billion, a price-to-earnings ratio of 34.04, a P/E/G ratio of 3.46 and a beta of 0.93. Ferrari N.V. has a 12 month low of $312.51 and a 12 month high of $519.10. The firm has a 50 day moving average of $345.59 and a two-hundred day moving average of $354.15.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RACE. Sanford C. Bernstein reiterated an “outperform” rating on shares of Ferrari in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. upped their price objective on shares of Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Jefferies Financial Group raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Morgan Stanley set a $420.00 target price on shares of Ferrari in a research report on Monday, February 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research report on Friday, April 10th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $469.06.

About Ferrari

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.