Sumitomo Mitsui Trust Group Inc. Raises Holdings in Ferrari (NYSE:RACE)

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Ferrari (NYSE:RACE) by 3.6% during the 4th quarter, Holdings Channel reports. The fund owned 141,473 shares of the company’s stock after purchasing an additional 4,882 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Ferrari were worth $60,103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Jamison Private Wealth Management Inc. grew its stake in shares of Ferrari by 27.2% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 103 shares of the company’s stock worth $48,000 after purchasing an additional 22 shares during the period. Elite Wealth Management Inc. boosted its holdings in Ferrari by 1.0% during the third quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock worth $1,225,000 after buying an additional 25 shares in the last quarter. Addison Advisors LLC grew its position in Ferrari by 13.6% during the third quarter. Addison Advisors LLC now owns 217 shares of the company’s stock valued at $102,000 after buying an additional 26 shares during the period. Marshall Financial Group LLC increased its holdings in Ferrari by 1.1% in the third quarter. Marshall Financial Group LLC now owns 2,732 shares of the company’s stock valued at $1,284,000 after buying an additional 30 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Ferrari by 10.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock worth $140,000 after acquiring an additional 30 shares during the period.

Analyst Ratings Changes

Several brokerages recently weighed in on RACE. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research note on Thursday. They issued a “hold” rating for the company. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. UBS Group increased their price objective on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Evercore ISI boosted their target price on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Stock Down 3.3 %

RACE stock opened at $446.27 on Monday. 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 firm has a 50-day moving average of $435.60 and a two-hundred day moving average of $449.57. Ferrari has a 12 month low of $375.31 and a 12 month high of $498.23. The company has a market cap of $108.78 billion, a price-to-earnings ratio of 48.77, a PEG ratio of 4.04 and a beta of 0.95.

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.