Unisphere Establishment Purchases New Shares in Ferrari N.V. $RACE

Key Points

• Unisphere Establishment acquired a stake in Ferrari N.V. by purchasing 37,400 shares valued at approximately $16 million during the first quarter.
• Several institutional investors, including Goldman Sachs and Vanguard Group, increased their holdings in Ferrari, highlighting strong interest among large fund managers.
• Ferrari's stock currently has a consensus rating of "Moderate Buy" from analysts, with a potential target price of $528.33.

Unisphere Establishment acquired a new stake in Ferrari N.V. (NYSE:RACE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 37,400 shares of the company's stock, valued at approximately $16,003,000.

Other institutional investors have also bought and sold shares of the company. GW&K Investment Management LLC grew its stake in Ferrari by 288.9% in the 1st quarter. GW&K Investment Management LLC now owns 70 shares of the company's stock valued at $30,000 after buying an additional 52 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of Ferrari during the fourth quarter worth approximately $32,000. Alpine Bank Wealth Management bought a new stake in Ferrari in the first quarter worth $33,000. Brooklyn Investment Group lifted its stake in Ferrari by 381.3% in the first quarter. Brooklyn Investment Group now owns 77 shares of the company's stock worth $33,000 after purchasing an additional 61 shares during the last quarter. Finally, Webster Bank N. A. bought a new stake in Ferrari in the first quarter worth $43,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RACE shares. Deutsche Bank Aktiengesellschaft raised Ferrari from a "hold" rating to a "buy" rating in a research note on Tuesday. Cfra Research downgraded shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research report on Thursday, July 31st. Zacks Research downgraded shares of Ferrari from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 29th. UBS Group lifted their target price on shares of Ferrari from $540.00 to $570.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Citigroup reaffirmed a "sell" rating on shares of Ferrari in a research report on Monday, August 11th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $531.67.

Ferrari Stock Performance

Shares of Ferrari stock traded down $6.13 on Friday, hitting $489.06. 279,249 shares of the company's stock were exchanged, compared to its average volume of 337,340. The company has a 50-day simple moving average of $479.60 and a 200-day simple moving average of $467.07. The stock has a market capitalization of $118.54 billion, a PE ratio of 50.47, a PEG ratio of 5.64 and a beta of 1.10. Ferrari N.V. has a 1 year low of $391.54 and a 1 year high of $519.10. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.94 and a current ratio of 5.09.

Ferrari (NYSE:RACE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.57 by $0.13. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The firm had revenue of $2.12 billion during the quarter, compared to analysts' expectations of $2.05 billion. During the same period in the prior year, the company posted $2.29 earnings per share. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, equities analysts anticipate that Ferrari N.V. will post 9.22 EPS for the current 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.