Nalls Sherbakoff Group LLC Acquires New Position in Ferrari N.V. $RACE

Nalls Sherbakoff Group LLC bought a new position in Ferrari N.V. (NYSE:RACE) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,000 shares of the company’s stock, valued at approximately $739,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RACE. Fideuram Asset Management Ireland dac purchased a new position in Ferrari in the 4th quarter worth approximately $29,000. Community Bank N.A. bought a new position in Ferrari in the 3rd quarter valued at approximately $33,000. Entrust Financial LLC purchased a new stake in Ferrari during the 4th quarter valued at $33,000. Bamco Inc. NY increased its holdings in shares of Ferrari by 790.9% in the 4th quarter. Bamco Inc. NY now owns 98 shares of the company’s stock worth $36,000 after purchasing an additional 87 shares in the last quarter. Finally, CoreCap Advisors LLC increased its holdings in shares of Ferrari by 70.0% in the 4th quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock worth $38,000 after purchasing an additional 42 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RACE. Morgan Stanley raised Ferrari from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $388.00 to $438.00 in a report on Monday. JPMorgan Chase & Co. lifted their price objective on Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Sanford C. Bernstein reissued an “outperform” rating on shares of Ferrari in a research report on Tuesday, June 2nd. Jefferies Financial Group raised Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $470.70.

Ferrari Price Performance

Shares of RACE opened at $362.88 on Friday. The firm has a market cap of $84.89 billion, a PE ratio of 34.82, a P/E/G ratio of 3.45 and a beta of 0.93. 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 firm has a fifty day simple moving average of $347.80 and a two-hundred day simple moving average of $353.40. Ferrari N.V. has a 1-year low of $312.51 and a 1-year high of $519.10.

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.