5 Fastest Growing Auto Stocks in the World

3. Ferrari N.V. (NYSE:RACE)

Number of Hedge Fund Holders: 31  

Ferrari N.V. (NYSE:RACE) designs, engineers, produces and sells luxury performance sports cars. On November 2, Ferrari N.V. reported total shipments of 3,188 units, up 15.9% versus the third quarter of 2021. Net revenues were 1,250 million euros, up 18.7% versus the prior year. The product portfolio in the quarter included seven internal combustion engine models and three hybrid engine models, which represented 81% and 19% of total shipments, respectively. 

On December 9, RBC Capital analyst Tom Narayan maintained an Outperform rating on Ferrari N.V. (NYSE:RACE) stock and raised the price target to EUR 265 from EUR 261.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Darsana Capital Partners is a leading shareholder in Ferrari N.V. (NYSE:RACE) with 1.3 million shares worth more than $231 million. 

In its Q1 2022 investor letter, Ensemble Capital, an asset management firm, highlighted a few stocks and Ferrari N.V. (NYSE:RACE) was one of them. Here is what the fund said:

“Ferrari N.V. (NYSE:RACE) (7.3% weight in the Fund): As WE DESCRIBED a year ago in this letter, Ferrari’s chief marketing officer’s hardest job is not getting people to buy a Ferrari, but to tell some of them no. The company is in the business of selling rare, luxury products and so by design they greatly limited the number of vehicles they sell. This extreme constraint has led to a waitlist of well over a year with a customer base so devoted to the company that even amid the Financial Crisis of 2008-09, the number of vehicles they sold only declined by 4%. Their customers are so price insensitive, that the company often sells out of their limited-edition supercars that sell for millions of dollars before they even announce the price. For a Ferrari collector, the high prices are a feature, not a bug, as it is the price that makes Ferrari ownership so exclusive.”