Quantinno Capital Management LP Has $8.87 Million Stock Position in Ferrari N.V. $RACE

Quantinno Capital Management LP lifted its stake in shares of Ferrari N.V. (NYSE:RACE) by 19.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,293 shares of the company’s stock after purchasing an additional 4,363 shares during the quarter. Quantinno Capital Management LP’s holdings in Ferrari were worth $8,867,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RACE. Norges Bank acquired a new stake in Ferrari in the fourth quarter valued at approximately $779,894,000. Ninety One UK Ltd acquired a new stake in Ferrari in the 4th quarter valued at $338,785,000. Morgan Stanley grew 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 purchasing an additional 771,039 shares during the period. Viking Global Investors LP increased its stake in Ferrari by 432.7% during the 2nd quarter. Viking Global Investors LP now owns 721,269 shares of the company’s stock valued at $353,526,000 after purchasing an additional 585,872 shares in the last quarter. Finally, Credit Agricole S A acquired a new position in Ferrari during the third quarter worth $279,003,000.

Ferrari Stock Up 0.4%

RACE stock opened at $403.02 on Wednesday. The stock has a market cap of $94.29 billion, a P/E ratio of 37.42, a P/E/G ratio of 3.46 and a beta of 0.91. The company has a current ratio of 4.85, a quick ratio of 3.70 and a debt-to-equity ratio of 0.86. The stock’s fifty day simple moving average is $367.64 and its two-hundred day simple moving average is $353.51. Ferrari N.V. has a 1-year low of $312.51 and a 1-year high of $504.49.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RACE shares. Needham & Company LLC upgraded shares of Ferrari to a “neutral” rating in a report on Friday. Evercore reaffirmed an “outperform” rating and issued a $485.00 price target on shares of Ferrari in a research report on Friday. UBS Group cut their price target on Ferrari from $497.00 to $490.00 and set a “buy” rating for the company in a research note on Friday. Wolfe Research started coverage on Ferrari in a report on Tuesday, July 7th. They set an “outperform” rating for the company. Finally, Sanford C. Bernstein increased their price objective on Ferrari from $402.00 to $460.00 and gave the stock an “outperform” rating in a research note on Friday. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average 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.