Westpac Banking Corp lifted its position in Ferrari N.V. (NYSE:RACE) by 351.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,610 shares of the company’s stock after buying an additional 40,178 shares during the period. Westpac Banking Corp’s holdings in Ferrari N.V. were worth $5,702,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of RACE. Bank of New York Mellon Corp grew its holdings in shares of Ferrari N.V. by 124.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 811,847 shares of the company’s stock worth $69,836,000 after acquiring an additional 449,795 shares during the last quarter. FMR LLC grew its holdings in shares of Ferrari N.V. by 4.6% in the 1st quarter. FMR LLC now owns 126,742 shares of the company’s stock worth $9,424,000 after acquiring an additional 5,620 shares during the last quarter. Rehmann Capital Advisory Group acquired a new position in shares of Ferrari N.V. in the 3rd quarter worth $263,000. Geode Capital Management LLC acquired a new position in shares of Ferrari N.V. in the 1st quarter worth $1,005,000. Finally, KCG Holdings Inc. acquired a new position in shares of Ferrari N.V. in the 1st quarter worth $356,000. 29.91% of the stock is currently owned by institutional investors.
Ferrari N.V. (NYSE:RACE) opened at $110.44 on Tuesday. The company has a current ratio of 3.26, a quick ratio of 2.68 and a debt-to-equity ratio of 2.77. Ferrari N.V. has a twelve month low of $52.72 and a twelve month high of $121.14. The firm has a market capitalization of $20,701.80, a price-to-earnings ratio of 35.46, a PEG ratio of 2.57 and a beta of 1.72.
A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded Ferrari N.V. from a “hold” rating to a “buy” rating and set a $112.00 target price on the stock in a report on Saturday, July 22nd. UBS AG restated a “buy” rating and issued a $125.00 target price (up from $100.00) on shares of Ferrari N.V. in a report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) assumed coverage on Ferrari N.V. in a report on Wednesday, September 13th. They issued a “neutral” rating and a $131.00 target price on the stock. TheStreet upgraded Ferrari N.V. from a “c” rating to a “b-” rating in a report on Friday, October 20th. Finally, Evercore ISI lifted their target price on Ferrari N.V. from $46.00 to $105.00 and gave the stock an “in-line” rating in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $109.86.
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About Ferrari N.V.
Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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