Allianz Asset Management GmbH Purchases 1,940 Shares of Ferrari (NYSE:RACE)

Allianz Asset Management GmbH raised its position in shares of Ferrari (NYSE:RACE) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 122,568 shares of the company’s stock after purchasing an additional 1,940 shares during the period. Allianz Asset Management GmbH’s holdings in Ferrari were worth $52,075,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Sapient Capital LLC increased its position in Ferrari by 1.0% during the 4th quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock valued at $28,737,000 after buying an additional 653 shares in the last quarter. Cerity Partners LLC grew its stake in Ferrari by 14.0% during the 3rd quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock valued at $12,653,000 after purchasing an additional 3,308 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Ferrari by 156.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,400 shares of the company’s stock valued at $2,731,000 after purchasing an additional 3,900 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in Ferrari by 123.9% during the 4th quarter. Miracle Mile Advisors LLC now owns 9,005 shares of the company’s stock valued at $3,826,000 after purchasing an additional 4,983 shares during the last quarter. Finally, Mediolanum International Funds Ltd grew its stake in Ferrari by 24.7% during the 4th quarter. Mediolanum International Funds Ltd now owns 9,071 shares of the company’s stock valued at $3,874,000 after purchasing an additional 1,796 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have recently commented on RACE. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, UBS Group upped their target price on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Stock Performance

Shares of RACE stock opened at $503.88 on Friday. The company has a market capitalization of $122.82 billion, a P/E ratio of 55.07, a P/E/G ratio of 4.43 and a beta of 0.95. The business’s 50 day moving average is $444.58 and its two-hundred day moving average is $454.95. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 12-month low of $399.27 and a 12-month high of $508.20.

Ferrari Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.