Panoramic Capital Partners LLC Invests $322,000 in Ferrari (NYSE:RACE)

Panoramic Capital Partners LLC acquired a new stake in Ferrari (NYSE:RACE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 759 shares of the company’s stock, valued at approximately $322,000.

Other large investors have also bought and sold shares of the company. Jennison Associates LLC lifted its holdings in Ferrari by 910.1% in the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after acquiring an additional 2,636,869 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Ferrari by 47,023.5% in the 3rd 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 in the last quarter. Quadrature Capital Ltd lifted its stake in Ferrari by 83.7% during the third quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock valued at $108,417,000 after purchasing an additional 105,390 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Ferrari by 89.9% during the third quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock worth $103,621,000 after buying an additional 104,366 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Ferrari by 904.5% in the third quarter. Assenagon Asset Management S.A. now owns 110,565 shares of the company’s stock worth $51,968,000 after buying an additional 99,558 shares during the last quarter.

Analyst Upgrades and Downgrades

RACE has been the subject of a number of recent research reports. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. UBS Group upped their price objective on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, Evercore ISI upped their price target on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. One 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Stock Up 3.2 %

RACE stock opened at $460.86 on Tuesday. The company has a 50 day moving average of $435.60 and a two-hundred day moving average of $449.82. The company has a market cap of $112.33 billion, a price-to-earnings ratio of 50.37, a PEG ratio of 4.04 and a beta of 0.95. Ferrari has a 12-month low of $375.31 and a 12-month high of $498.23. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

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.