561,054 Shares in Ferrari N.V. $RACE Purchased by Groupe la Francaise

Key Points

• Groupe la Francaise has acquired 561,054 shares in Ferrari N.V., valued at approximately $238.8 million, making it the fund's third-largest holding.
• Several major investors increased their stakes in Ferrari during the first quarter, with Goldman Sachs boosting its holdings by 52.3% to 2.3 million shares.
• Ferrari reported a quarterly earnings per share (EPS) of $2.70, surpassing expectations, and has set its FY 2025 EPS guidance at 9.751.

Groupe la Francaise purchased a new position in shares of Ferrari N.V. (NYSE:RACE - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 561,054 shares of the company's stock, valued at approximately $238,818,000. Ferrari accounts for approximately 5.1% of Groupe la Francaise's investment portfolio, making the stock its 3rd largest holding. Groupe la Francaise owned approximately 0.23% of Ferrari at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RACE. Goldman Sachs Group Inc. boosted its stake in shares of Ferrari by 52.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company's stock worth $974,332,000 after purchasing an additional 781,587 shares during the period. Nuveen LLC purchased a new position in shares of Ferrari during the 1st quarter worth about $233,200,000. Vanguard Group Inc. boosted its stake in shares of Ferrari by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company's stock worth $2,165,683,000 after purchasing an additional 377,929 shares during the period. Citigroup Inc. boosted its stake in shares of Ferrari by 155.1% during the 1st quarter. Citigroup Inc. now owns 269,862 shares of the company's stock worth $115,469,000 after purchasing an additional 164,092 shares during the period. Finally, Banco Santander S.A. boosted its stake in shares of Ferrari by 35.3% during the 1st quarter. Banco Santander S.A. now owns 560,999 shares of the company's stock worth $240,040,000 after purchasing an additional 146,279 shares during the period.

Ferrari Trading Up 0.9%

NYSE:RACE opened at $471.1990 on Friday. Ferrari N.V. has a one year low of $391.54 and a one 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. The firm has a market cap of $114.21 billion, a P/E ratio of 48.63, a P/E/G ratio of 5.05 and a beta of 1.09. The firm has a 50-day simple moving average of $476.99 and a 200-day simple moving average of $466.93.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RACE. Cfra Research cut shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research report on Thursday, July 31st. UBS Group boosted their price objective on shares of Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Citigroup reissued a "sell" rating on shares of Ferrari in a research report on Monday, August 11th. Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Finally, Wall Street Zen cut shares of Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $526.25.

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.

Want to see what other hedge funds are holding RACE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferrari N.V. (NYSE:RACE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.