Evelyn Partners Investment Management Services Ltd Has $1.33 Million Stock Holdings in Ferrari N.V. $RACE

Evelyn Partners Investment Management Services Ltd lifted its position in shares of Ferrari N.V. (NYSE:RACE) by 105.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,943 shares of the company’s stock after purchasing an additional 2,025 shares during the period. Evelyn Partners Investment Management Services Ltd’s holdings in Ferrari were worth $1,335,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in RACE. Norges Bank bought a new position in Ferrari in the 4th quarter valued at approximately $779,894,000. Ninety One UK Ltd acquired a new position in Ferrari in the 4th quarter valued at approximately $338,785,000. Morgan Stanley increased its position in Ferrari by 43.4% in the 4th quarter. Morgan Stanley now owns 2,546,564 shares of the company’s stock valued at $941,109,000 after acquiring an additional 771,039 shares during the period. Viking Global Investors LP raised its stake in shares of Ferrari by 432.7% during the second quarter. Viking Global Investors LP now owns 721,269 shares of the company’s stock valued at $353,526,000 after acquiring an additional 585,872 shares during the last quarter. Finally, Credit Agricole S A acquired a new position in shares of Ferrari during the third quarter worth $279,003,000.

Ferrari Trading Up 5.5%

RACE opened at $380.09 on Tuesday. Ferrari N.V. has a twelve month low of $312.51 and a twelve month high of $515.00. The company has a fifty day moving average of $361.11 and a 200-day moving average of $352.31. The stock has a market cap of $88.92 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 3.09 and a beta of 0.92. The company has a quick ratio of 4.08, a current ratio of 5.20 and a debt-to-equity ratio of 0.72.

Analyst Ratings Changes

RACE has been the topic of several analyst reports. UBS Group boosted their price objective on shares of Ferrari from $483.00 to $497.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Wolfe Research began coverage on Ferrari in a report on Tuesday, July 7th. They set an “outperform” rating on the stock. Sanford C. Bernstein reiterated an “outperform” rating on shares of Ferrari in a research report on Tuesday, June 2nd. Morgan Stanley upgraded Ferrari from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $388.00 to $438.00 in a research report on Monday, June 15th. Finally, Jefferies Financial Group upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $471.97.

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.