14,075 Shares in Ferrari N.V. $RACE Acquired by Silvant Capital Management LLC

Silvant Capital Management LLC purchased a new position in shares of Ferrari N.V. (NYSE:RACE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 14,075 shares of the company’s stock, valued at approximately $5,240,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RACE. AQR Capital Management LLC increased its holdings in shares of Ferrari by 78.9% in the 1st quarter. AQR Capital Management LLC now owns 3,568 shares of the company’s stock valued at $1,527,000 after acquiring an additional 1,574 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Ferrari by 31.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company’s stock worth $82,000 after purchasing an additional 46 shares during the period. Woodline Partners LP acquired a new stake in Ferrari during the 1st quarter worth $1,519,000. Sivia Capital Partners LLC boosted its stake in Ferrari by 67.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock worth $448,000 after purchasing an additional 368 shares during the period. Finally, Rhumbline Advisers grew its position in Ferrari by 7.5% during the 2nd quarter. Rhumbline Advisers now owns 1,370 shares of the company’s stock worth $672,000 after purchasing an additional 96 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Evercore restated an “outperform” rating and issued a $485.00 price objective on shares of Ferrari in a research note on Friday, July 31st. Sanford C. Bernstein raised their price target on Ferrari from $402.00 to $460.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Morgan Stanley restated an “overweight” rating and issued a $442.00 price target on shares of Ferrari in a research report on Friday, July 31st. Needham & Company LLC raised Ferrari to a “neutral” rating in a research note on Friday, July 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ferrari in a research report on Wednesday, July 8th. Three equities research 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 company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $477.15.

Ferrari Stock Performance

Shares of RACE opened at $428.14 on Friday. The stock has a market capitalization of $100.16 billion, a P/E ratio of 39.75, a P/E/G ratio of 3.65 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. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $504.49. The company’s fifty day moving average is $383.03 and its two-hundred day moving average is $359.68.

Ferrari (NYSE:RACE) last released its earnings results on Friday, July 31st. The company reported $2.99 EPS for the quarter, topping the consensus estimate of $2.83 by $0.16. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business earned $2.38 EPS. On average, sell-side analysts predict that Ferrari N.V. will post 11.18 earnings per share for the current 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.