Infusive Asset Management Inc. Acquires 11,516 Shares of Ferrari N.V. $RACE

Infusive Asset Management Inc. increased its holdings in shares of Ferrari N.V. (NYSE:RACE) by 269.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 15,789 shares of the company’s stock after purchasing an additional 11,516 shares during the period. Ferrari accounts for approximately 2.5% of Infusive Asset Management Inc.’s holdings, making the stock its 14th largest position. Infusive Asset Management Inc.’s holdings in Ferrari were worth $5,835,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in shares of Ferrari by 78.9% during the first quarter. AQR Capital Management LLC now owns 3,568 shares of the company’s stock worth $1,527,000 after acquiring an additional 1,574 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Ferrari by 31.1% during 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 during the period. Woodline Partners LP bought a new stake in shares of Ferrari during the first quarter worth approximately $1,519,000. Sivia Capital Partners LLC boosted its holdings in shares of Ferrari by 67.5% during the second quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock worth $448,000 after acquiring an additional 368 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Ferrari by 7.5% during the second quarter. Rhumbline Advisers now owns 1,370 shares of the company’s stock worth $672,000 after acquiring an additional 96 shares during the period.

Ferrari Stock Down 3.0%

NYSE RACE opened at $354.77 on Friday. 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 1-year low of $312.51 and a 1-year high of $519.10. The company has a 50 day moving average of $345.59 and a 200-day moving average of $354.15. The company has a market cap of $83.00 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 3.36 and a beta of 0.93.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Sanford C. Bernstein restated an “outperform” rating on shares of Ferrari in a report on Tuesday, June 2nd. Morgan Stanley set a $420.00 price objective on Ferrari in a report on Monday, February 16th. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a report on Friday, April 10th. JPMorgan Chase & Co. boosted their price objective on Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Finally, UBS Group reduced their price objective on Ferrari from $555.00 to $483.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $469.06.

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.