362,817 Shares in Ferrari N.V. $RACE Acquired by Wellington Management Group LLP

Wellington Management Group LLP acquired a new position in shares of Ferrari N.V. (NYSE:RACE) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 362,817 shares of the company’s stock, valued at approximately $134,543,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Fideuram Asset Management Ireland dac acquired a new position in Ferrari during the fourth quarter worth $29,000. Entrust Financial LLC purchased a new position in shares of Ferrari during the fourth quarter worth $33,000. Bellevue Asset Management LLC acquired a new stake in shares of Ferrari in the first quarter valued at $34,000. Bamco Inc. NY grew its stake in shares of Ferrari by 790.9% in the fourth quarter. Bamco Inc. NY now owns 98 shares of the company’s stock valued at $36,000 after buying an additional 87 shares in the last quarter. Finally, Dunhill Financial LLC purchased a new stake in shares of Ferrari in the 2nd quarter valued at $38,000.

Wall Street Analysts Forecast Growth

RACE has been the topic of several research reports. Morgan Stanley reissued an “overweight” rating and set a $442.00 target price on shares of Ferrari in a research note on Friday, July 31st. Needham & Company LLC raised Ferrari to a “neutral” rating in a research report on Friday, July 31st. Wolfe Research assumed coverage on shares of Ferrari in a research report on Tuesday, July 7th. They set an “outperform” rating on the stock. Citigroup reissued a “neutral” rating on shares of Ferrari in a research note on Monday, August 3rd. Finally, UBS Group dropped their price objective on shares of Ferrari from $497.00 to $490.00 and set a “buy” rating for the company in a report on Friday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $477.15.

Ferrari Stock Performance

Shares of Ferrari stock opened at $422.94 on Tuesday. Ferrari N.V. has a one year low of $312.51 and a one year high of $504.49. The company has a market cap of $98.95 billion, a PE ratio of 39.27, a P/E/G ratio of 3.61 and a beta of 0.91. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.70 and a current ratio of 4.85. The business has a 50-day simple moving average of $391.72 and a 200-day simple moving average of $363.75.

Ferrari (NYSE:RACE) last released its earnings results on Friday, July 31st. The company reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.16. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.14 billion. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.38 earnings per share. On average, equities research analysts forecast that Ferrari N.V. will post 11.18 EPS for the current fiscal year.

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.