Institutional Investors Buying Ferrari (NYSE:RACE) Stock

Institutional Investors Buying Ferrari (NYSE:RACE) Stock

$RACE

Rockefeller Capital Management L.P. raised its holdings in shares of Ferrari NV (NYSE:RACE) by 18.9% during Q-1. The fund owned 793/shares of the company’s stock after purchasing an additional 126/shares during the frame. Rockefeller Capital Management LP’s holdings in Ferrari were worth $121,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company.

Parallel Advisors LLC lifted its holdings in shares of Ferrari by 13.2% during Q-4 Y 2019. Parallel Advisors LLC now owns 498/shares of the company’s stock valued at $83,000 after buying an additional 58/shares during the last Quarter.

Coastal Investment Advisors Inc. lifted its holdings in shares of Ferrari by 2.0% during Q-4. Coastal Investment Advisors Inc. now owns 3,222shares of the company’s stock valued at $542,000 after buying an additional 62/shares during Q-1.

Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Ferrari by 5.7% during Q-1. Northwestern Mutual Wealth Management Co. now owns 1,233/shares of the company’s stock valued at $188,000 after buying an additional 67/shares during the last Quarter.

Sowell Financial Services LLC lifted its holdings in shares of Ferrari by 48.6% during Q-4. Sowell Financial Services LLC now owns 214/shares of the company’s stock valued at $35,000 after buying an additional 70/shares during the last Quarter, and,

Sequoia Financial Advisors LLC lifted its holdings in shares of Ferrari by 3.2% during Q-1. Sequoia Financial Advisors LLC now owns 2,357shares of the company’s stock valued at $360,000 after buying an additional 73/shares during the last Quarter.

Fully, 34.09% of Ferrari’s stock is currently owned by institutional investors.

Ferrari is The Aristocrat of the automotive sector.

Enzo Ferrari’s iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos

HeffX-LTN overall technical outlook for RACE is overall Bullish with a Very Bullish bias, the Key resistance 175.72, and Key support is at 161.96.

Our overall technical outlook is Bullish in here, as all Key indicators are Bullish to Very Bullish as it approaches its all time highs at 179.21 marked on 18 February 2020.

Ferrari (NYSE:RACE) finished Tuesday at 169.69, -0.01 in NY.

The Maranello Outfit’s shares were raised to Buy from Hold at HSBC.

Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I have called it at it at 200+/share long term, adjusting it to 200/share short term (after the virus) and siding with BAML to 230 long term for now. The stock is now considered defensive in the sector.

Have a healthy day, Keep the Faith!

 

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Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he it the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.