Allianz Asset Management GmbH Has $76.94 Million Stake in Ferrari N.V. $RACE

Key Points

• Allianz Asset Management GmbH increased its stake in Ferrari N.V. by 26.1%, owning $76.94 million worth of shares after purchasing an additional 32,491 shares during the 2nd quarter.
• Recent analyst reports have lowered price targets for Ferrari, with estimates now ranging from $475.00 to $529.00, while maintaining an overall consensus rating of "Buy."
• Ferrari's stock has shown resilience, currently priced at $392.35 per share, with a market capitalization of $95.10 billion and strong quarterly earnings exceeding expectations.

Allianz Asset Management GmbH raised its stake in Ferrari N.V. (NYSE:RACE - Free Report) by 26.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 156,779 shares of the company's stock after purchasing an additional 32,491 shares during the period. Allianz Asset Management GmbH owned 0.06% of Ferrari worth $76,937,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RACE. GW&K Investment Management LLC increased its stake in Ferrari by 288.9% in the first quarter. GW&K Investment Management LLC now owns 70 shares of the company's stock valued at $30,000 after purchasing an additional 52 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in Ferrari in the first quarter valued at $33,000. Brooklyn Investment Group increased its stake in Ferrari by 381.3% in the first quarter. Brooklyn Investment Group now owns 77 shares of the company's stock valued at $33,000 after purchasing an additional 61 shares in the last quarter. GAMMA Investing LLC increased its stake in Ferrari by 41.2% in the second quarter. GAMMA Investing LLC now owns 72 shares of the company's stock valued at $35,000 after purchasing an additional 21 shares in the last quarter. Finally, Centerpoint Advisors LLC bought a new stake in Ferrari in the first quarter valued at $43,000.

Analysts Set New Price Targets

RACE has been the subject of several research analyst reports. Sanford C. Bernstein decreased their price target on shares of Ferrari from $554.00 to $475.00 and set an "outperform" rating for the company in a research note on Friday, October 10th. UBS Group decreased their price target on shares of Ferrari from $579.00 to $529.00 and set a "buy" rating for the company in a research note on Thursday. Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Citigroup decreased their target price on shares of Ferrari from $579.00 to $529.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Zacks Research downgraded shares of Ferrari from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 29th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Ferrari presently has a consensus rating of "Buy" and a consensus target price of $514.00.

Ferrari Stock Up 0.7%

Ferrari stock opened at $392.35 on Friday. Ferrari N.V. has a fifty-two week low of $372.31 and a fifty-two week high of $519.10. The stock has a market cap of $95.10 billion, a PE ratio of 40.49, a price-to-earnings-growth ratio of 4.13 and a beta of 1.08. The firm's 50-day simple moving average is $466.07 and its 200 day simple moving average is $468.59. 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 released its quarterly earnings results on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $2.05 billion. During the same period in the previous year, the company earned $2.29 earnings per share. The firm'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. Research analysts predict that Ferrari N.V. will post 9.22 EPS for the current fiscal 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.

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