Bank Pictet & Cie Europe AG Sells 562 Shares of Ferrari N.V. $RACE

Key Points

• Bank Pictet & Cie Europe AG reduced its stake in Ferrari N.V. by 23.0%, selling 562 shares and retaining 1,882 shares valued at approximately $919,000.
• Ferrari's recent earnings report indicated an EPS of $2.70, exceeding analysts' expectations and marking a year-over-year revenue increase of 4.4% to $2.12 billion.
• Wall Street analysts have mixed ratings for Ferrari, with eight analysts rating it a "Buy" and others issuing both "Hold" and "Sell" ratings, reflecting varying outlooks on the stock's performance.

Bank Pictet & Cie Europe AG lessened its stake in Ferrari N.V. (NYSE:RACE - Free Report) by 23.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,882 shares of the company's stock after selling 562 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Ferrari were worth $919,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. GW&K Investment Management LLC lifted its holdings in Ferrari by 288.9% during the first quarter. GW&K Investment Management LLC now owns 70 shares of the company's stock worth $30,000 after acquiring an additional 52 shares during the period. GAMMA Investing LLC lifted its holdings in Ferrari by 41.2% during the second quarter. GAMMA Investing LLC now owns 72 shares of the company's stock worth $35,000 after acquiring an additional 21 shares during the period. Park Square Financial Group LLC bought a new stake in Ferrari during the fourth quarter worth $32,000. Alpine Bank Wealth Management bought a new stake in Ferrari during the first quarter worth $33,000. Finally, Brooklyn Investment Group lifted its holdings in Ferrari by 381.3% during the first quarter. Brooklyn Investment Group now owns 77 shares of the company's stock worth $33,000 after acquiring an additional 61 shares during the period.

Ferrari Price Performance

Ferrari stock opened at $474.73 on Friday. Ferrari N.V. has a 52 week low of $391.54 and a 52 week high of $519.10. The business has a 50-day simple moving average of $475.17 and a 200 day simple moving average of $467.74. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89. The stock has a market cap of $115.06 billion, a price-to-earnings ratio of 48.99, a PEG ratio of 3.81 and a beta of 1.10.

Ferrari (NYSE:RACE - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $2.70 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 analysts' expectations of $2.05 billion. During the same period in the previous year, the business earned $2.29 earnings per share. The firm's revenue was up 4.4% on a year-over-year basis. Ferrari has set its FY 2025 guidance at 9.751- EPS. On average, research analysts forecast that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RACE has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upgraded Ferrari from a "hold" rating to a "buy" rating in a research note on Tuesday, September 2nd. Cfra Research lowered Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday, July 31st. Zacks Research lowered Ferrari from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 29th. Citigroup restated a "sell" rating on shares of Ferrari in a research note on Monday, August 11th. Finally, UBS Group boosted their target price on Ferrari from $540.00 to $570.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Eight 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's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $531.67.

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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