XTX Topco Ltd Invests $549,000 in Ferrari (NYSE:RACE)

XTX Topco Ltd acquired a new stake in shares of Ferrari (NYSE:RACE) in the third quarter, Holdings Channel reports. The firm acquired 1,167 shares of the company’s stock, valued at approximately $549,000.

Several other large investors also recently added to or reduced their stakes in RACE. National Bank of Canada FI grew its position in shares of Ferrari by 1.8% during the 3rd quarter. National Bank of Canada FI now owns 2,308 shares of the company’s stock worth $1,081,000 after buying an additional 40 shares in the last quarter. Insigneo Advisory Services LLC increased its position in Ferrari by 13.5% during the 3rd quarter. Insigneo Advisory Services LLC now owns 906 shares of the company’s stock valued at $425,000 after purchasing an additional 108 shares during the period. Kovitz Investment Group Partners LLC bought a new stake in shares of Ferrari in the 3rd quarter valued at about $335,000. Temasek Holdings Private Ltd purchased a new stake in shares of Ferrari in the 3rd quarter worth approximately $43,801,000. Finally, Stifel Financial Corp lifted its position in shares of Ferrari by 0.3% in the 3rd quarter. Stifel Financial Corp now owns 57,859 shares of the company’s stock worth $27,202,000 after purchasing an additional 187 shares during the period.

Analysts Set New Price Targets

A number of equities analysts recently commented on RACE shares. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. Evercore ISI boosted their price target on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. UBS Group raised their price objective on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Morgan Stanley boosted their target price on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Finally, StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Ferrari currently has an average rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Stock Up 0.5 %

Ferrari stock opened at $453.92 on Friday. 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 stock has a 50-day moving average of $455.46 and a two-hundred day moving average of $445.47. Ferrari has a one year low of $330.15 and a one year high of $498.23.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.98 earnings per share. Equities research analysts forecast that Ferrari will post 8.58 earnings per share for the current fiscal year.

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.