Forsta AP Fonden grew its position in shares of Ferrari (NYSE:RACE – Free Report) by 53.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,447 shares of the company’s stock after buying an additional 7,773 shares during the quarter. Forsta AP Fonden’s holdings in Ferrari were worth $9,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in RACE. Rothschild Investment LLC bought a new stake in Ferrari in the second quarter worth $29,000. IAG Wealth Partners LLC acquired a new stake in shares of Ferrari in the first quarter worth about $33,000. Register Financial Advisors LLC bought a new stake in shares of Ferrari during the 1st quarter worth about $33,000. Denver PWM LLC acquired a new position in shares of Ferrari during the 2nd quarter valued at about $35,000. Finally, Pittenger & Anderson Inc. raised its stake in shares of Ferrari by 168.6% in the 1st quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock valued at $41,000 after acquiring an additional 59 shares in the last quarter.
Ferrari Stock Down 0.6 %
NYSE:RACE opened at $469.09 on Friday. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01. Ferrari has a one year low of $285.02 and a one year high of $498.23. The company has a fifty day moving average price of $446.99 and a 200 day moving average price of $428.46.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on RACE shares. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. UBS Group upped their price objective on shares of Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a report on Monday, June 24th. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Finally, Morgan Stanley boosted their target price on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $481.67.
Check Out Our Latest Analysis on Ferrari
Ferrari Company 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.
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