Allianz SE Has $11.87 Million Position in Ferrari N.V. $RACE

Allianz SE lowered its stake in shares of Ferrari N.V. (NYSE:RACE) by 6.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 32,112 shares of the company’s stock after selling 2,280 shares during the period. Allianz SE’s holdings in Ferrari were worth $11,867,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Groupama Asset Managment increased its position in shares of Ferrari by 5.7% during the third quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock valued at $8,244,189,000 after acquiring an additional 916,821 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Ferrari by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company’s stock valued at $1,937,388,000 after acquiring an additional 58,506 shares during the last quarter. Amundi increased its position in shares of Ferrari by 8.0% during the third quarter. Amundi now owns 2,972,368 shares of the company’s stock valued at $1,461,008,000 after acquiring an additional 219,909 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Ferrari by 27.5% in the third quarter. Alliancebernstein L.P. now owns 2,379,261 shares of the company’s stock valued at $1,154,465,000 after purchasing an additional 512,703 shares during the last quarter. Finally, Norges Bank purchased a new position in Ferrari in the fourth quarter valued at approximately $779,894,000.

Ferrari Price Performance

RACE stock opened at $354.77 on Friday. Ferrari N.V. has a 12 month low of $312.51 and a 12 month high of $519.10. The company has a current ratio of 5.20, a quick ratio of 4.08 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average price of $345.59 and a 200 day moving average price of $354.15. The stock has a market cap of $83.00 billion, a PE ratio of 34.04, a P/E/G ratio of 3.46 and a beta of 0.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RACE shares. Morgan Stanley set a $420.00 target price on shares of Ferrari in a report on Monday, February 16th. Sanford C. Bernstein reissued an “outperform” rating on shares of Ferrari in a report on Tuesday, June 2nd. JPMorgan Chase & Co. boosted their target price on shares of Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. UBS Group lowered their target price on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Finally, Jefferies Financial Group raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Ferrari has an average rating of “Moderate Buy” and a consensus target price of $469.06.

Ferrari 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.