Atomi Financial Group Inc. Buys 927 Shares of Ferrari (NYSE:RACE)

Atomi Financial Group Inc. grew its stake in Ferrari (NYSE:RACE) by 89.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,963 shares of the company’s stock after acquiring an additional 927 shares during the period. Atomi Financial Group Inc.’s holdings in Ferrari were worth $923,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Capital International Investors increased its position in Ferrari by 314.3% in the first quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock worth $454,792,000 after purchasing an additional 791,596 shares during the period. Marshall Wace LLP grew its position in shares of Ferrari by 108.4% during the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock worth $361,961,000 after buying an additional 461,409 shares during the period. Clearbridge Investments LLC raised its stake in shares of Ferrari by 6,024.9% during the first quarter. Clearbridge Investments LLC now owns 380,910 shares of the company’s stock worth $166,054,000 after buying an additional 374,691 shares during the last quarter. Capital World Investors raised its stake in shares of Ferrari by 34.3% during the first quarter. Capital World Investors now owns 962,583 shares of the company’s stock worth $419,547,000 after buying an additional 245,872 shares during the last quarter. Finally, Capital International Inc. CA lifted its holdings in Ferrari by 207.3% in the first quarter. Capital International Inc. CA now owns 237,277 shares of the company’s stock valued at $103,419,000 after buying an additional 160,055 shares during the period.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Morgan Stanley upped their price objective on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. UBS Group raised their target price on Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $481.67.

Ferrari Trading Down 1.0 %

NYSE:RACE opened at $456.50 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.35 and a quick ratio of 3.32. The business’s 50-day simple moving average is $461.48 and its 200-day simple moving average is $433.46. Ferrari has a fifty-two week low of $296.34 and a fifty-two week high of $498.23. The stock has a market capitalization of $84.34 billion, a PE ratio of 58.30, a price-to-earnings-growth ratio of 4.77 and a beta of 0.99.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Thursday, August 1st. The company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.08. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the firm posted $1.99 earnings per share. The business’s revenue was up 16.1% on a year-over-year basis. Sell-side analysts expect that Ferrari will post 8.81 earnings per share for the current fiscal year.

Ferrari Company 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.