Amundi Sells 125,515 Shares of Ferrari N.V. $RACE

Key Points

• Amundi has decreased its stake in Ferrari N.V. by 4.3%, selling 125,515 shares and now holding approximately 1.16% of the company, valued at around $1.2 billion.
• Several institutional investors have adjusted their positions in Ferrari, with Gordian Capital Singapore Pte Ltd increasing its stake by a notable 42.9% during the first quarter.
• Ferrari reported earnings per share of $2.70 for the last quarter, exceeding estimates and displaying a 4.4% revenue growth year-over-year.

Amundi decreased its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,805,852 shares of the company's stock after selling 125,515 shares during the period. Amundi owned about 1.16% of Ferrari worth $1,209,968,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sound View Wealth Advisors Group LLC boosted its position in Ferrari by 1.0% in the first quarter. Sound View Wealth Advisors Group LLC now owns 2,198 shares of the company's stock worth $940,000 after purchasing an additional 21 shares during the last quarter. Garde Capital Inc. grew its holdings in Ferrari by 5.0% during the 4th quarter. Garde Capital Inc. now owns 525 shares of the company's stock valued at $223,000 after buying an additional 25 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in Ferrari by 3.9% during the 1st quarter. Rehmann Capital Advisory Group now owns 697 shares of the company's stock worth $299,000 after acquiring an additional 26 shares during the period. Aviso Financial Inc. increased its holdings in shares of Ferrari by 1.1% in the first quarter. Aviso Financial Inc. now owns 2,835 shares of the company's stock worth $1,213,000 after purchasing an additional 30 shares during the period. Finally, Gordian Capital Singapore Pte Ltd increased its stake in Ferrari by 42.9% in the 1st quarter. Gordian Capital Singapore Pte Ltd now owns 100 shares of the company's stock worth $43,000 after acquiring an additional 30 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RACE. Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a report on Monday, August 4th. Wall Street Zen cut Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Citigroup restated a "sell" rating on shares of Ferrari in a research report on Monday, August 11th. Deutsche Bank Aktiengesellschaft upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, UBS Group raised their price objective on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $528.33.

Ferrari Stock Up 3.0%

Ferrari stock opened at $491.37 on Wednesday. The stock has a fifty day moving average of $478.88 and a 200 day moving average of $467.04. 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 stock has a market cap of $119.10 billion, a PE ratio of 50.71, a price-to-earnings-growth ratio of 5.44 and a beta of 1.10.

Ferrari (NYSE:RACE - Get Free Report) last posted 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. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.05 billion. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The firm's revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, sell-side analysts predict 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.

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