Mitsubishi UFJ Trust & Banking Corp Has $973,000 Stock Holdings in Ferrari (NYSE:RACE)

Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Ferrari (NYSE:RACEGet Rating) by 290.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,310 shares of the company’s stock after purchasing an additional 3,949 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Ferrari were worth $973,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in Ferrari in the 2nd quarter valued at approximately $47,000. Whittier Trust Co. of Nevada Inc. increased its position in Ferrari by 238.6% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the company’s stock valued at $52,000 after acquiring an additional 198 shares during the period. Prospera Financial Services Inc bought a new stake in shares of Ferrari in the 1st quarter valued at $59,000. Standard Family Office LLC bought a new stake in shares of Ferrari in the 1st quarter valued at $59,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Ferrari by 16,950.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 341 shares of the company’s stock valued at $61,000 after purchasing an additional 339 shares during the last quarter. 32.31% of the stock is currently owned by institutional investors and hedge funds.

Ferrari Stock Performance

Shares of RACE stock opened at $216.33 on Monday. The firm has a 50-day moving average of $195.16 and a 200-day moving average of $195.21. The company has a market cap of $39.97 billion, a P/E ratio of 39.55, a P/E/G ratio of 3.55 and a beta of 0.94. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.47 and a quick ratio of 3.74. Ferrari has a one year low of $167.45 and a one year high of $278.78.

Ferrari (NYSE:RACEGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.10. Ferrari had a net margin of 19.00% and a return on equity of 40.02%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.15 billion. Equities research analysts forecast that Ferrari will post 5.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RACE. HSBC raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, October 27th. UBS Group increased their target price on shares of Ferrari from $255.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Morgan Stanley cut their target price on shares of Ferrari from $300.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, November 3rd. Finally, StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, November 9th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $228.89.

Ferrari Profile

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Ferrari NV is a holding company, which engages in the design, engineering, production, and sale of luxury sports cars. The firm’s models include the F12Berlinetta, 488GTB, 488 Spider, 458 Speciale, California T, the LaFerrari Hybrid, LaFerrari, and the FF four-wheel drive. It participates in car racing such as Formula One.

See Also

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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