Assenagon Asset Management S.A. Has $23.52 Million Stock Position in Ferrari N.V. $RACE

Key Points

• Assenagon Asset Management S.A. has reduced its stake in Ferrari N.V. by 1.8%, selling 887 shares during the 2nd quarter, resulting in total holdings worth $23.5 million.
• Other institutional investors have increased their positions, with Goldman Sachs growing its stake by 52.3% and Vanguard Group increasing its stake by 8.1% in the first quarter.
• Ferrari's shares recently opened at $479.83, and the company reported earnings of $2.70 per share, exceeding expectations, with revenues up 4.4% year-over-year.

Assenagon Asset Management S.A. cut its position in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 47,956 shares of the company's stock after selling 887 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Ferrari were worth $23,519,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RACE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Ferrari by 60.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 148 shares of the company's stock worth $63,000 after buying an additional 56 shares in the last quarter. Squarepoint Ops LLC increased its position in Ferrari by 129.3% during the fourth quarter. Squarepoint Ops LLC now owns 6,907 shares of the company's stock worth $2,934,000 after buying an additional 3,895 shares in the last quarter. Vise Technologies Inc. increased its position in Ferrari by 5.1% during the fourth quarter. Vise Technologies Inc. now owns 2,252 shares of the company's stock worth $957,000 after buying an additional 110 shares in the last quarter. Sunbelt Securities Inc. increased its position in Ferrari by 46.4% during the fourth quarter. Sunbelt Securities Inc. now owns 864 shares of the company's stock worth $369,000 after buying an additional 274 shares in the last quarter. Finally, Garde Capital Inc. increased its position in Ferrari by 5.0% during the fourth quarter. Garde Capital Inc. now owns 525 shares of the company's stock worth $223,000 after buying an additional 25 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RACE shares. Citigroup reissued a "sell" rating on shares of Ferrari in a research report on Monday, August 11th. Zacks Research downgraded Ferrari from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 29th. Deutsche Bank Aktiengesellschaft raised Ferrari from a "hold" rating to a "buy" rating in a research report on Tuesday, September 2nd. UBS Group boosted their price target on Ferrari from $540.00 to $570.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $531.67.

Ferrari Stock Down 0.2%

Ferrari stock traded down $1.11 during midday trading on Monday, hitting $478.48. The stock had a trading volume of 327,269 shares, compared to its average volume of 287,236. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89. The stock has a market cap of $115.97 billion, a P/E ratio of 49.38, a P/E/G ratio of 5.46 and a beta of 1.09. Ferrari N.V. has a 12 month low of $391.54 and a 12 month high of $519.10. The business has a fifty day moving average price of $477.14 and a 200 day moving average price of $466.85.

Ferrari (NYSE:RACE - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, topping analysts' consensus estimates of $2.57 by $0.13. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the firm posted $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 year.

About Ferrari

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.