Prime Capital Investment Advisors LLC Acquires New Shares in Ferrari (NYSE:RACE)

Posted by Defense World Staff on Aug 9th, 2023

Prime Capital Investment Advisors LLC acquired a new stake in Ferrari (NYSE:RACE – Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 776 shares of the company’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RACE. Norges Bank purchased a new stake in shares of Ferrari in the 4th quarter worth $354,547,000. Bank of Italy increased its stake in shares of Ferrari by 11.3% in the 4th quarter. Bank of Italy now owns 2,274,266 shares of the company’s stock worth $485,632,000 after purchasing an additional 230,272 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Ferrari by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 4,242,136 shares of the company’s stock worth $925,168,000 after purchasing an additional 151,938 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Ferrari by 64.1% in the 4th quarter. Marshall Wace LLP now owns 362,461 shares of the company’s stock worth $77,443,000 after purchasing an additional 141,566 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Ferrari by 132.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 211,198 shares of the company’s stock worth $45,243,000 after purchasing an additional 120,460 shares in the last quarter.

Ferrari Stock Down 0.4 %

Ferrari stock opened at $310.98 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.91 and a quick ratio of 3.04. Ferrari has a 1-year low of $176.82 and a 1-year high of $329.88. The company’s 50-day moving average is $311.84 and its 200 day moving average is $285.79.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RACE shares. UBS Group increased their price target on Ferrari from $365.00 to $368.00 in a research note on Thursday, August 3rd. Morgan Stanley reiterated an “overweight” rating and issued a $340.00 price target on shares of Ferrari in a research note on Monday, July 31st. StockNews.com started coverage on Ferrari in a research note on Thursday, May 18th. They issued a “buy” rating for the company. JPMorgan Chase & Co. increased their price target on Ferrari from $245.00 to $260.00 in a research note on Monday, May 8th. Finally, Barclays assumed coverage on shares of Ferrari in a report on Tuesday, May 2nd. They set an “equal weight” rating for the company. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $304.58.

Read Our Latest Research Report on Ferrari

Ferrari Profile

(Free Report)

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.

Prime Capital Investment Advisors LLC Acquires New Shares in Ferrari (NYSE:RACE)

Ferrari Stock Down 0.4 %

Analyst Upgrades and Downgrades

Ferrari Profile

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