Vise Technologies Inc. Takes Position in Ferrari N.V. $RACE

Vise Technologies Inc. acquired a new position in shares of Ferrari N.V. (NYSE:RACE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,391 shares of the company’s stock, valued at approximately $518,000.

Several other institutional investors have also made changes to their positions in the business. HighTower Advisors LLC grew its stake in shares of Ferrari by 94.4% in the 4th 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 during the period. Deutsche Bank AG lifted its position in shares of Ferrari by 3.9% during the 4th quarter. Deutsche Bank AG now owns 973,583 shares of the company’s stock worth $359,797,000 after buying an additional 36,670 shares during the period. Vanguard Group Inc. boosted 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 in the last quarter. USS Investment Management Ltd boosted its stake in Ferrari by 902.0% in the 1st quarter. USS Investment Management Ltd now owns 229,353 shares of the company’s stock valued at $76,588,000 after buying an additional 206,463 shares in the last quarter. Finally, Biglari Sardar grew its position in Ferrari by 49.8% in the first quarter. Biglari Sardar now owns 49,600 shares of the company’s stock valued at $16,787,000 after acquiring an additional 16,500 shares during the period.

Ferrari Stock Down 2.8%

Shares of NYSE RACE opened at $424.31 on Tuesday. The firm’s 50-day simple moving average is $385.77 and its 200 day simple moving average is $361.05. The company has a market cap of $99.27 billion, a price-to-earnings ratio of 39.39, a price-to-earnings-growth ratio of 3.75 and a beta of 0.91. The company has a quick ratio of 3.70, a current ratio of 4.85 and a debt-to-equity ratio of 0.86. Ferrari N.V. has a 12-month low of $312.51 and a 12-month high of $504.49.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Friday, July 31st. The company reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.16. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the company posted $2.38 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, research analysts expect that Ferrari N.V. will post 11.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RACE. Wolfe Research initiated coverage on Ferrari in a research note on Tuesday, July 7th. They set an “outperform” rating for the company. UBS Group reduced their target price on shares of Ferrari from $497.00 to $490.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Sanford C. Bernstein upped their target price on shares of Ferrari from $402.00 to $460.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Needham & Company LLC upgraded shares of Ferrari to a “neutral” rating in a research report on Friday, July 31st. Finally, Evercore reissued an “outperform” rating and set a $485.00 price target on shares of Ferrari in a report on Friday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $477.15.

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.