Pittenger & Anderson Inc. Boosts Stock Holdings in Ferrari (NYSE:RACE)

Pittenger & Anderson Inc. raised its position in shares of Ferrari (NYSE:RACE) by 53.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 144 shares of the company’s stock after purchasing an additional 50 shares during the period. Pittenger & Anderson Inc.’s holdings in Ferrari were worth $61,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Jennison Associates LLC grew its stake in shares of Ferrari by 910.1% during the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after acquiring an additional 2,636,869 shares during the period. International Assets Investment Management LLC boosted its position in Ferrari by 47,023.5% during the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock worth $5,551,600,000 after purchasing an additional 1,178,410 shares during the period. Quadrature Capital Ltd increased its stake in shares of Ferrari by 83.7% in the third quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock worth $108,417,000 after purchasing an additional 105,390 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Ferrari by 89.9% in the third quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock valued at $103,621,000 after purchasing an additional 104,366 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Ferrari by 904.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 110,565 shares of the company’s stock valued at $51,968,000 after buying an additional 99,558 shares in the last quarter.

Ferrari Stock Performance

Shares of RACE opened at $503.50 on Tuesday. Ferrari has a 12-month low of $386.27 and a 12-month high of $507.20. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The company has a market cap of $122.73 billion, a PE ratio of 55.03, a price-to-earnings-growth ratio of 4.04 and a beta of 0.95. The stock has a 50-day moving average price of $439.23 and a 200-day moving average price of $452.34.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RACE shares. Evercore ISI lifted their price objective on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research note on Thursday, February 6th. They set a “hold” rating on the stock. UBS Group raised their target price on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $507.14.

About Ferrari

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.