Ferrari N.V. $RACE Shares Sold by Axiom Investors LLC DE

Key Points

• Axiom Investors LLC DE reduced its stake in Ferrari N.V. by 60.9%, selling 18,234 shares and leaving it with 11,725 shares worth approximately $5 million.
• Despite Axiom's decrease, other institutional investors such as First Trust Advisors LP and Dark Forest Capital Management LP have significantly increased their positions in Ferrari during the fourth quarter.
• Ferrari reported strong earnings of $2.70 per share for the last quarter, surpassing expectations and reflecting a 4.4% year-over-year revenue increase.

Axiom Investors LLC DE decreased its holdings 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 filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in RACE. GW&K Investment Management LLC grew its stake in shares of Ferrari by 288.9% in the 1st quarter. GW&K Investment Management LLC now owns 70 shares of the company's stock worth $30,000 after acquiring an additional 52 shares in the last quarter. Park Square Financial Group LLC bought a new stake in Ferrari during the fourth quarter worth $32,000. Alpine Bank Wealth Management purchased a new position in Ferrari in the first quarter worth $33,000. Brooklyn Investment Group boosted its position in Ferrari by 381.3% in the first quarter. Brooklyn Investment Group now owns 77 shares of the company's stock worth $33,000 after purchasing an additional 61 shares during the last quarter. Finally, Webster Bank N. A. bought a new position in Ferrari in the 1st quarter valued at $43,000.

Ferrari Price Performance

NYSE:RACE traded up $2.36 during trading hours on Wednesday, hitting $470.30. 233,158 shares of the stock were exchanged, compared to its average volume of 605,640. The company has a market cap of $113.99 billion, a P/E ratio of 48.29, a P/E/G ratio of 5.06 and a beta of 1.09. The firm's fifty day moving average price is $477.23 and its 200 day moving average price is $467.15. Ferrari N.V. has a 52-week low of $391.54 and a 52-week high of $519.10. 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 posted its earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, beating 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 return on equity of 45.41% and a net margin of 22.95%.The company's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, equities research analysts anticipate that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RACE has been the subject of several research analyst reports. Citigroup reiterated a "sell" rating on shares of Ferrari in a research report on Monday, August 11th. Wall Street Zen cut Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. UBS Group raised their price target on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ferrari in a report on Monday, August 4th. Finally, Cfra Research downgraded Ferrari from a "hold" rating to a "moderate sell" rating in a research report on Thursday, July 31st. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Ferrari presently has an average rating of "Moderate Buy" and a consensus price target of $528.33.

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.