1,254 Shares in Ferrari N.V. $RACE Purchased by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC acquired a new position in Ferrari N.V. (NYSE:RACE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,254 shares of the company’s stock, valued at approximately $466,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fideuram Asset Management Ireland dac bought a new position in shares of Ferrari during the 4th quarter worth approximately $29,000. Entrust Financial LLC bought a new position in shares of Ferrari in the fourth quarter valued at approximately $33,000. Bellevue Asset Management LLC purchased a new stake in shares of Ferrari during the first quarter valued at approximately $34,000. Bamco Inc. NY lifted its holdings in Ferrari by 790.9% during the fourth quarter. Bamco Inc. NY now owns 98 shares of the company’s stock worth $36,000 after acquiring an additional 87 shares during the period. Finally, Dunhill Financial LLC purchased a new position in Ferrari in the second quarter worth $38,000.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Morgan Stanley restated an “overweight” rating and issued a $442.00 price objective on shares of Ferrari in a research note on Friday, July 31st. Needham & Company LLC upgraded Ferrari to a “neutral” rating in a research note on Friday, July 31st. Citigroup reissued a “neutral” rating on shares of Ferrari in a report on Monday, August 3rd. Wolfe Research started coverage on shares of Ferrari in a research report on Tuesday, July 7th. They set an “outperform” rating for the company. Finally, Sanford C. Bernstein lifted their price target on shares of Ferrari from $402.00 to $460.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $477.15.

Ferrari Price Performance

NYSE RACE opened at $421.86 on Wednesday. The company has a quick ratio of 3.70, a current ratio of 4.85 and a debt-to-equity ratio of 0.86. The company has a market cap of $98.69 billion, a PE ratio of 39.17, a price-to-earnings-growth ratio of 3.65 and a beta of 0.91. Ferrari N.V. has a 52 week low of $312.51 and a 52 week high of $504.49. The firm’s 50-day simple moving average is $386.88 and its two-hundred day simple moving average is $361.63.

Ferrari (NYSE:RACE) last posted its earnings results on Friday, July 31st. The company reported $2.99 earnings per share for the quarter, topping 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 the consensus estimate of $2.14 billion. During the same quarter last year, the company earned $2.38 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. Research analysts predict that Ferrari N.V. will post 11.18 earnings per share for the current year.

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.