Ferrari N.V. $RACE Stake Raised by Biglari Sardar

Biglari Sardar boosted its holdings in shares of Ferrari N.V. (NYSE:RACE) by 49.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,600 shares of the company’s stock after buying an additional 16,500 shares during the quarter. Ferrari accounts for 33.0% of Biglari Sardar’s investment portfolio, making the stock its largest position. Biglari Sardar’s holdings in Ferrari were worth $16,787,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RACE. 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 worth $1,937,388,000 after acquiring an additional 58,506 shares during the period. Amundi boosted its holdings in Ferrari by 11.1% in the fourth quarter. Amundi now owns 3,303,264 shares of the company’s stock valued at $1,220,754,000 after purchasing an additional 330,896 shares during the period. Bank of New York Mellon Corp grew its stake in Ferrari by 8.4% during the 1st quarter. Bank of New York Mellon Corp now owns 2,808,855 shares of the company’s stock worth $950,657,000 after purchasing an additional 218,830 shares in the last quarter. Morgan Stanley grew its stake in Ferrari by 43.4% during the 4th quarter. Morgan Stanley now owns 2,546,564 shares of the company’s stock worth $941,109,000 after purchasing an additional 771,039 shares in the last quarter. Finally, Norges Bank purchased a new stake in Ferrari during the 4th quarter worth about $779,894,000.

Analysts Set New Price Targets

RACE has been the subject of several recent research reports. Wolfe Research began coverage on Ferrari in a research note on Tuesday, July 7th. They issued an “outperform” rating for the company. Sanford C. Bernstein restated an “outperform” rating on shares of Ferrari in a research note on Tuesday, June 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a research note on Wednesday, July 8th. Morgan Stanley upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $388.00 to $438.00 in a report on Monday, June 15th. Finally, Jefferies Financial Group raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $471.97.

Ferrari Stock Up 5.5%

Shares of NYSE RACE opened at $380.09 on Tuesday. The business has a 50-day moving average of $361.11 and a two-hundred day moving average of $352.31. The company has a market capitalization of $88.92 billion, a price-to-earnings ratio of 36.47, a price-to-earnings-growth ratio of 3.09 and a beta of 0.92. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $515.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.20 and a quick ratio of 4.08.

About Ferrari

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.