Ferrari (NYSE:RACE) Shares Purchased by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its stake in shares of Ferrari (NYSE:RACE - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 122,568 shares of the company's stock after buying an additional 1,940 shares during the period. Allianz Asset Management GmbH owned about 0.05% of Ferrari worth $52,075,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Flossbach Von Storch SE boosted its holdings in Ferrari by 18.7% during the fourth quarter. Flossbach Von Storch SE now owns 41,491 shares of the company's stock worth $17,717,000 after buying an additional 6,533 shares in the last quarter. Pacific Sun Financial Corp boosted its holdings in Ferrari by 7.6% during the fourth quarter. Pacific Sun Financial Corp now owns 968 shares of the company's stock worth $411,000 after buying an additional 68 shares in the last quarter. Advyzon Investment Management LLC purchased a new stake in Ferrari during the fourth quarter worth about $257,000. Good Life Advisors LLC boosted its holdings in Ferrari by 36.3% during the fourth quarter. Good Life Advisors LLC now owns 1,495 shares of the company's stock worth $635,000 after buying an additional 398 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in Ferrari during the fourth quarter worth about $45,000.

Ferrari Trading Down 0.8 %

Shares of NYSE:RACE traded down $4.27 during trading on Friday, reaching $503.88. The stock had a trading volume of 282,928 shares, compared to its average volume of 384,086. The business has a fifty day moving average price of $444.58 and a 200-day moving average price of $454.95. 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. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $508.20.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RACE. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. Barclays downgraded shares of Ferrari from an "overweight" rating to an "equal weight" rating in a report on Wednesday, February 5th. UBS Group upped their price target 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, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a "hold" rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average 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.