5 Best Stocks to Buy According to Anand Desai’s Darsana Capital

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

Darsana Capital Stake Value: $313,680,000
Percentage of Darsana Capital’s 13F Portfolio: 10.33%
Number of Hedge Fund Holders: 27

Ferrari N.V. (NYSE:RACE), also known as Ferrari, is an Italian sports automobile designer, manufacturer, and retailer located in the Netherlands. The hedge fund chaired by Anand Desai owns 1.50 million shares in the automobile company worth over $313.68 million, representing 10.33% of their investment portfolio. Darsana Capital has increased its stake in Ferrari N.V. (NYSE:RACE) by 20% in the third quarter of 2021.

Morgan Stanley analyst Adam Jonas replaced General Motors Company (NYSE:GM) with Ferrari N.V. (NYSE:RACE) as his latest “Top Pick” in January 2022. He rated the stock as “Overweight” and gave a price target of $350.

Overall, 27 hedge funds monitored by Insider Monkey were bullish on Ferrari N.V. (NYSE:RACE) in the third quarter. The stakes of these funds are valued at $1.18 billion.

Ensemble Capital, in its second-quarter 2021 investor letter mentioned Ferrari N.V. (NYSE:RACE). Here is what the fund said:

“Ferrari: After posting standout performance in 2020, beating the S&P 500 by over 20%, Ferrari’s share price performance has lagged for much of this year. The main issue this quarter was the company pushing out their medium-term financial targets due to development and production delays caused by COVID, but this only led to a 1% decline in the stock price for the full quarter. While we believe the company did a fantastic job maintaining production in light of COVID, it did not surprise us that some of their longer-term, new model introductions might be delayed by a couple of quarters. While disappointing of course, Ferrari is curating a set of extremely exclusive mechanical works of art and we are much happier seeing them take the time to do things right, rather than rushing to meet a self-imposed financial target.”