Allianz Asset Management GmbH Grows Position in Ferrari (NYSE:RACE)

Allianz Asset Management GmbH raised its position in shares of Ferrari (NYSE:RACE) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,568 shares of the company’s stock after buying an additional 1,940 shares during the quarter. Allianz Asset Management GmbH owned about 0.05% of Ferrari worth $52,075,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Elite Wealth Management Inc. grew its holdings in Ferrari by 1.0% during the 3rd quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock valued at $1,225,000 after buying an additional 25 shares in the last quarter. Addison Advisors LLC grew its holdings in Ferrari by 13.6% during the 3rd quarter. Addison Advisors LLC now owns 217 shares of the company’s stock valued at $102,000 after buying an additional 26 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Ferrari by 10.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock valued at $140,000 after buying an additional 30 shares in the last quarter. Caprock Group LLC grew its holdings in Ferrari by 1.7% during the 3rd quarter. Caprock Group LLC now owns 1,823 shares of the company’s stock valued at $857,000 after buying an additional 31 shares in the last quarter. Finally, EWA LLC grew its holdings in Ferrari by 6.6% during the 3rd quarter. EWA LLC now owns 518 shares of the company’s stock valued at $228,000 after buying an additional 32 shares in the last quarter.

Ferrari Price Performance

RACE opened at $503.88 on Friday. The business has a fifty day moving average of $444.58 and a 200 day moving average of $454.95. Ferrari has a 52-week low of $399.27 and a 52-week high of $508.20. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The stock has a market cap of $122.82 billion, a P/E ratio of 55.07, a PEG ratio of 4.43 and a beta of 0.95.

Analyst Upgrades and Downgrades

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

Ferrari 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.