3,500 Shares in Ferrari N.V. $RACE Purchased by Corient IA LLC

Key Points

• Corient IA LLC has acquired 3,500 shares of Ferrari N.V. valued at approximately $1,498,000, making it the firm's 7th largest holding.
• Ferrari's quarterly earnings exceeded expectations, reporting $2.70 EPS against an estimate of $2.57, showcasing a 4.4% revenue increase year-over-year.
• Analysts maintain a consensus rating of “Moderate Buy” for Ferrari, with price targets varying from $520 to $560.

Corient IA LLC bought a new stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,500 shares of the company's stock, valued at approximately $1,498,000. Ferrari accounts for about 1.1% of Corient IA LLC's portfolio, making the stock its 7th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Sound View Wealth Advisors Group LLC raised its position in shares of Ferrari by 1.0% during the 1st quarter. Sound View Wealth Advisors Group LLC now owns 2,198 shares of the company's stock valued at $940,000 after buying an additional 21 shares in the last quarter. Garde Capital Inc. raised its position in shares of Ferrari by 5.0% during the 4th quarter. Garde Capital Inc. now owns 525 shares of the company's stock valued at $223,000 after buying an additional 25 shares in the last quarter. Rehmann Capital Advisory Group raised its position in shares of Ferrari by 3.9% during the 1st quarter. Rehmann Capital Advisory Group now owns 697 shares of the company's stock valued at $299,000 after buying an additional 26 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Ferrari by 7.9% during the 1st quarter. Fifth Third Bancorp now owns 424 shares of the company's stock valued at $181,000 after buying an additional 31 shares in the last quarter. Finally, Wealth Alliance LLC raised its position in shares of Ferrari by 2.5% during the 1st quarter. Wealth Alliance LLC now owns 1,254 shares of the company's stock valued at $537,000 after buying an additional 31 shares in the last quarter.

Analyst Upgrades and Downgrades

RACE has been the topic of several research reports. UBS Group raised their price objective on shares of Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Cfra Research cut shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research report on Thursday, July 31st. Royal Bank Of Canada restated an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Wall Street Zen cut shares of Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Citigroup reiterated a "sell" rating on shares of Ferrari in a research report on Monday, August 11th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $526.25.

Ferrari Trading Down 0.6%

Ferrari stock traded down $2.9830 during trading hours on Wednesday, reaching $468.5170. The stock had a trading volume of 243,588 shares, compared to its average volume of 427,411. The stock has a market cap of $113.56 billion, a PE ratio of 48.35, a PEG ratio of 5.00 and a beta of 1.09. Ferrari N.V. has a 52 week low of $391.54 and a 52 week high of $519.10. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. The company has a fifty day simple moving average of $477.22 and a 200-day simple moving average of $466.58.

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