Ferrari (NYSE:RACE) Shares Bought by Pacific Sun Financial Corp

Pacific Sun Financial Corp boosted its position in shares of Ferrari (NYSE:RACE) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 968 shares of the company’s stock after buying an additional 68 shares during the quarter. Pacific Sun Financial Corp’s holdings in Ferrari were worth $411,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its position in Ferrari by 910.1% during the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after buying an additional 2,636,869 shares during the period. Bank of Italy grew its position in shares of Ferrari by 2.8% in the fourth quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock valued at $1,002,392,000 after purchasing an additional 63,675 shares during the period. International Assets Investment Management LLC grew its position in shares of Ferrari by 47,023.5% in the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock valued at $5,551,600,000 after purchasing an additional 1,178,410 shares during the period. Swiss National Bank grew its position in shares of Ferrari by 0.5% in the third quarter. Swiss National Bank now owns 377,857 shares of the company’s stock valued at $177,157,000 after purchasing an additional 1,914 shares during the period. Finally, Barclays PLC grew its position in shares of Ferrari by 6.1% in the third quarter. Barclays PLC now owns 286,564 shares of the company’s stock valued at $134,719,000 after purchasing an additional 16,428 shares during the period.

Ferrari Price Performance

Shares of RACE stock opened at $500.59 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The firm’s 50-day moving average is $442.46 and its two-hundred day moving average is $453.75. Ferrari has a 12 month low of $389.34 and a 12 month high of $508.03. The company has a market capitalization of $122.02 billion, a PE ratio of 54.71, a price-to-earnings-growth ratio of 4.40 and a beta of 0.95.

Analyst Upgrades and Downgrades

RACE has been the topic of several research analyst reports. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. UBS Group lifted their target price on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $507.14.

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.