Axiom Investors LLC DE Sells 18,234 Shares of Ferrari N.V. $RACE

Key Points

• Axiom Investors LLC DE significantly reduced its stake in Ferrari N.V. by 60.9%, selling 18,234 shares and now holding 11,725 shares worth approximately $5 million.
• Several institutional investors have also made changes to their positions in Ferrari, with notable increases from Banco Santander S.A. and Thoroughbred Financial Services LLC during the first quarter.
• Analyst ratings for Ferrari have varied widely, with Zacks Research downgrading the stock from a "strong-buy" to a "hold," while Deutsche Bank upgraded it from "hold" to "buy." The consensus rating currently stands at "Moderate Buy" with an average target price of $531.67.

Axiom Investors LLC DE reduced its position in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 60.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,725 shares of the company's stock after selling 18,234 shares during the period. Axiom Investors LLC DE's holdings in Ferrari were worth $5,017,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Ferrari by 8.1% during the first 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 last quarter. Bank of Italy grew its holdings in shares of Ferrari by 2.9% during the first quarter. Bank of Italy now owns 2,407,271 shares of the company's stock worth $1,021,078,000 after purchasing an additional 67,651 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Ferrari by 52.3% during the first 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 last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Ferrari by 1.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,822,147 shares of the company's stock worth $779,661,000 after acquiring an additional 25,883 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of Ferrari by 8.1% in the first quarter. Alliancebernstein L.P. now owns 1,767,337 shares of the company's stock worth $756,208,000 after acquiring an additional 131,945 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Zacks Research lowered Ferrari from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 29th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. UBS Group lifted their price objective on Ferrari from $540.00 to $570.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Finally, Cfra Research lowered Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday, July 31st. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $531.67.

Ferrari Stock Down 0.3%

Ferrari stock traded down $1.47 during trading on Friday, hitting $477.89. 158,596 shares of the company were exchanged, compared to its average volume of 415,976. The business's 50 day moving average is $478.63 and its 200 day moving average is $466.38. Ferrari N.V. has a 52 week low of $391.54 and a 52 week high of $519.10. The company has a market capitalization of $115.83 billion, a P/E ratio of 49.32, a PEG ratio of 5.40 and a beta of 1.10. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89.

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