Bank of America Corp DE Sells 2,474,138 Shares of Ferrari N.V. $RACE

Key Points

• Bank of America sharply reduced its Ferrari stake by selling 2.47 million shares, leaving it with 876,961 shares valued at approximately $296.8 million, or 0.37% of the company.
• Other major investors, including Vanguard, Deutsche Bank and HighTower Advisors, increased their Ferrari holdings, while the stock traded near $394.51 with a market capitalization of about $92.3 billion.
• Analysts remain broadly positive, with Ferrari rated “Moderate Buy” and an average price target of $477.15, though its elevated valuation—with a P/E near 37 and PEG ratio above 3—remains a key risk.

Bank of America Corp DE cut its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 73.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 876,961 shares of the company's stock after selling 2,474,138 shares during the quarter. Bank of America Corp DE owned 0.37% of Ferrari worth $296,808,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. HighTower Advisors LLC raised its position in Ferrari by 94.4% during the fourth quarter. HighTower Advisors LLC now owns 25,068 shares of the company's stock valued at $9,284,000 after purchasing an additional 12,175 shares during the period. Deutsche Bank AG boosted its holdings in shares of Ferrari by 3.9% in the 4th quarter. Deutsche Bank AG now owns 973,583 shares of the company's stock worth $359,797,000 after purchasing an additional 36,670 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Ferrari by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company's stock worth $1,937,388,000 after purchasing an additional 58,506 shares during the period. Baer Investment Advisory LLC bought a new position in shares of Ferrari during the 4th quarter valued at approximately $1,970,000. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Ferrari by 716.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,487 shares of the company's stock valued at $3,136,000 after purchasing an additional 7,448 shares during the last quarter.

Ferrari News Summary

Here are the key news stories impacting Ferrari this week:

• Positive Sentiment: Q2 results exceeded expectations and full-year guidance was raised. Ferrari reported revenue of approximately €1.94 billion, up about 8% year over year, while earnings per share beat consensus estimates. Strong operating performance, higher cash generation and resilient demand supported the outlook. Ferrari raises 2026 guidance after Q2 earnings beat
• Positive Sentiment: Personalization and pricing power remain key profit drivers. Customers continue to spend on customized vehicles and higher-margin options, helping Ferrari expand its mix and profitability. The order book is fully covered through 2027, and Jefferies raised its price target to €400 while retaining a Buy rating. Ferrari price target lifted on pricing power and personalization growth
• Positive Sentiment: Ferrari continues to return capital to shareholders. The company reported additional purchases under its €250 million second-tranche share buyback, part of a broader multiyear program expected to total approximately €3.5 billion through 2030. Buybacks can support per-share earnings and signal management confidence. Ferrari periodic report on buyback program
• Neutral Sentiment: Early demand for the Luce electric vehicle appears encouraging. CEO Benedetto Vigna said Ferrari is “very pleased” with orders for its first fully electric model, despite criticism of its debut. The comments help address execution concerns but do not yet provide detailed sales or profitability data. Ferrari very pleased with orders for Luce EV
• Negative Sentiment: Valuation remains a significant overhang. After a roughly 98% run, commentary argues that Ferrari may be overvalued. With a price-to-earnings ratio near 38 and PEG ratio above 3, investors may be taking profits or demanding stronger upside before bidding the shares higher. Ferrari stock could be overvalued despite its run

Ferrari Trading Up 0.2%

NYSE RACE opened at $394.51 on Monday. The stock has a market cap of $92.29 billion, a PE ratio of 36.63, a PEG ratio of 3.39 and a beta of 0.91. Ferrari N.V. has a 12 month low of $312.51 and a 12 month high of $504.49. The company's 50-day moving average price is $365.12 and its 200-day moving average price is $352.86. The company has a current ratio of 4.85, a quick ratio of 3.70 and a debt-to-equity ratio of 0.86.

Wall Street Analysts Forecast Growth

RACE has been the subject of a number of analyst reports. Needham & Company LLC upgraded Ferrari to a "neutral" rating in a research report on Friday. Sanford C. Bernstein boosted their price objective on shares of Ferrari from $402.00 to $460.00 and gave the company an "outperform" rating in a research report on Friday. Morgan Stanley reissued an "overweight" rating and issued a $442.00 target price on shares of Ferrari in a research note on Friday. Weiss Ratings restated a "hold (c)" rating on shares of Ferrari in a report on Wednesday, July 8th. Finally, Evercore reaffirmed an "outperform" rating and set a $485.00 price target on shares of Ferrari in a research note on Friday. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Ferrari has an average rating of "Moderate Buy" and an average target price of $477.15.

Ferrari Company Profile

Ferrari N.V. NYSE: RACE is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company's core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.

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