Thryve Wealth Management LLC Buys New Shares in Ferrari N.V. $RACE

Thryve Wealth Management LLC bought a new position in Ferrari N.V. (NYSE:RACE) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,000 shares of the company’s stock, valued at approximately $739,000.

A number of other institutional investors have also bought and sold shares of the business. Lansforsakringar Fondforvaltning AB publ raised its holdings in shares of Ferrari by 6.6% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 51,928 shares of the company’s stock worth $25,114,000 after acquiring an additional 3,224 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Ferrari by 94.4% in the fourth quarter. HighTower Advisors LLC now owns 25,068 shares of the company’s stock valued at $9,284,000 after purchasing an additional 12,175 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in Ferrari by 3.3% in the third quarter. CIBC Private Wealth Group LLC now owns 183,917 shares of the company’s stock worth $89,077,000 after purchasing an additional 5,958 shares during the last quarter. Vanguard Group Inc. increased its position in Ferrari by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company’s stock worth $1,937,388,000 after purchasing an additional 58,506 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in Ferrari by 3.9% during the fourth quarter. Deutsche Bank AG now owns 973,583 shares of the company’s stock valued at $359,797,000 after purchasing an additional 36,670 shares in the last quarter.

Ferrari Trading Up 2.4%

RACE stock opened at $362.88 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. Ferrari N.V. has a twelve month low of $312.51 and a twelve month high of $519.10. The stock has a market capitalization of $84.89 billion, a price-to-earnings ratio of 34.82, a price-to-earnings-growth ratio of 3.38 and a beta of 0.93. The firm’s fifty day simple moving average is $347.58 and its two-hundred day simple moving average is $353.34.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RACE shares. Sanford C. Bernstein reiterated an “outperform” rating on shares of Ferrari in a research report on Tuesday, June 2nd. Jefferies Financial Group upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. UBS Group decreased their target price on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. JPMorgan Chase & Co. increased their price target on shares of Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Ferrari has a consensus rating of “Moderate Buy” and an average price target of $470.70.

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.