BlackRock Inc. Invests $93.42 Million in Ferrari N.V. $RACE

Key Points

• BlackRock acquired 250,929 Ferrari shares worth approximately $93.4 million during the second quarter, giving it a 0.11% stake in the luxury automaker.
• Analysts maintain a generally positive outlook, with Ferrari holding a consensus “Moderate Buy” rating and an average price target of $477.15.
• Ferrari exceeded quarterly expectations, reporting $2.99 in EPS and $2.21 billion in revenue, with revenue rising 8.4% year over year.

BlackRock Inc. purchased a new position in Ferrari N.V. (NYSE:RACE - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 250,929 shares of the company's stock, valued at approximately $93,418,000. BlackRock Inc. owned about 0.11% of Ferrari at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. AQR Capital Management LLC increased its holdings in shares of Ferrari by 78.9% in the 1st quarter. AQR Capital Management LLC now owns 3,568 shares of the company's stock worth $1,527,000 after acquiring an additional 1,574 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Ferrari by 31.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company's stock worth $82,000 after purchasing an additional 46 shares during the last quarter. Woodline Partners LP bought a new position in Ferrari in the 1st quarter worth about $1,519,000. Sivia Capital Partners LLC increased its stake in shares of Ferrari by 67.5% in the second quarter. Sivia Capital Partners LLC now owns 913 shares of the company's stock valued at $448,000 after purchasing an additional 368 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of Ferrari by 7.5% in the second quarter. Rhumbline Advisers now owns 1,370 shares of the company's stock valued at $672,000 after purchasing an additional 96 shares during the period.

Analyst Ratings Changes

RACE has been the subject of several analyst reports. Morgan Stanley reiterated an "overweight" rating and set a $442.00 price objective on shares of Ferrari in a research report on Friday, July 31st. UBS Group lowered their target price on Ferrari from $497.00 to $490.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Ferrari in a research note on Wednesday, July 8th. Sanford C. Bernstein boosted their price target on Ferrari from $402.00 to $460.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Finally, Needham & Company LLC raised Ferrari to a "neutral" rating in a research note on Friday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Ferrari currently has a consensus rating of "Moderate Buy" and an average target price of $477.15.

Ferrari Price Performance

NYSE RACE opened at $420.86 on Friday. Ferrari N.V. has a 12 month low of $312.51 and a 12 month high of $504.49. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.85 and a quick ratio of 3.70. The firm has a market capitalization of $98.46 billion, a PE ratio of 39.07, a P/E/G ratio of 3.62 and a beta of 0.91. The company's 50 day simple moving average is $390.23 and its 200 day simple moving average is $363.15.

Ferrari (NYSE:RACE - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $2.99 earnings per share for the quarter, topping analysts' consensus estimates of $2.83 by $0.16. Ferrari had a return on equity of 42.83% and a net margin of 22.29%.The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the prior year, the firm posted $2.38 earnings per share. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that Ferrari N.V. will post 11.18 EPS for the current fiscal year.

Ferrari News Roundup

Here are the key news stories impacting Ferrari this week:

• Positive Sentiment: Ferrari is reportedly preparing to introduce its upgraded ADUO F1 power unit at the Italian Grand Prix in Monza. A successful upgrade could improve Ferrari’s competitiveness, generate valuable publicity and support the brand’s marketing platform. Ferrari makes crucial upgraded F1 engine decision for Italian GP Ferrari ready to fire up ADUO engine upgrade at Monza
• Positive Sentiment: Ferrari unveiled special Michael Schumacher-inspired race suits and a commemorative livery for its home race at Monza, with Lewis Hamilton expected to participate in the tribute. The initiative reinforces Ferrari’s heritage and fan engagement, potentially supporting its premium-brand appeal and merchandise exposure. Ferrari unveils Michael Schumacher race suits for F1 Italian GP
• Positive Sentiment: An American billionaire reportedly paid $40 million for Ferrari’s first Luce electric vehicle, far above its estimated $1.1 million presale price. Although the tax savings benefit the buyer rather than Ferrari directly, the transaction highlights exceptional pricing power, exclusivity and demand for Ferrari’s limited-production vehicles. American billionaire bought the first Ferrari Luce
• Neutral Sentiment: Ferrari’s Formula 1 leadership identified performance goals after reportedly strong pace at Zandvoort, while a new active-bodywork patent points to possible future hypercar innovation. These developments support the long-term brand narrative but have no confirmed near-term financial impact. Ferrari's New Active Bodywork Patent
• Negative Sentiment: A high-value Ferrari race car was reportedly involved in a track-day crash. The incident appears isolated and is unlikely to materially affect Ferrari N.V.’s earnings, though it creates limited negative publicity.

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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