Cornerstone Advisors LLC Buys Shares of 24,655 Ferrari N.V. $RACE

Key Points

• Cornerstone Advisors acquired 24,655 Ferrari shares during the second quarter, valued at approximately $9.18 million. Several other institutional investors also increased their positions.
• Ferrari reported quarterly EPS of $2.99, beating estimates by $0.16, while revenue rose 8.4% year over year to $2.21 billion. Shares opened at $417.17, with the company maintaining strong profitability and a 22.29% net margin.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $477.15. Record auction prices for Ferrari models and strong attention for its first EV further support the brand’s luxury positioning.

Cornerstone Advisors LLC bought a new stake in Ferrari N.V. (NYSE:RACE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,655 shares of the company's stock, valued at approximately $9,179,000.

Other hedge funds also recently bought and sold shares of the company. HighTower Advisors LLC raised its holdings in Ferrari by 94.4% in the 4th quarter. HighTower Advisors LLC now owns 25,068 shares of the company's stock worth $9,284,000 after acquiring an additional 12,175 shares during the period. Deutsche Bank AG lifted its position in Ferrari by 3.9% during the 4th quarter. Deutsche Bank AG now owns 973,583 shares of the company's stock worth $359,797,000 after acquiring an additional 36,670 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Ferrari by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company's stock valued at $1,937,388,000 after acquiring an additional 58,506 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of Ferrari by 716.8% in the fourth 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. Finally, USS Investment Management Ltd grew its position in shares of Ferrari by 902.0% in the first quarter. USS Investment Management Ltd now owns 229,353 shares of the company's stock valued at $76,588,000 after purchasing an additional 206,463 shares during the last quarter.

Ferrari Trading Up 0.6%

Shares of Ferrari stock opened at $417.17 on Tuesday. Ferrari N.V. has a 52-week low of $312.51 and a 52-week high of $504.49. The firm has a market capitalization of $97.60 billion, a PE ratio of 38.73, a price-to-earnings-growth ratio of 3.57 and a beta of 0.91. 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 company's fifty day moving average price is $379.15 and its two-hundred day moving average price is $357.85.

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

Key Headlines Impacting Ferrari

Here are the key news stories impacting Ferrari this week:

• Positive Sentiment: Record Ferrari auction prices reinforce brand strength. Broad Arrow’s inaugural Quail Auction generated $97.4 million in sales, with 85% of lots sold. A 2003 Ferrari Enzo sold for $10.675 million, while several modern Ferraris—including the 550 Barchetta Pininfarina, 488 Pista Spider, 812 Superfast and 550 Maranello—achieved model auction records. The results suggest sustained collector demand and support Ferrari’s pricing power and exclusivity. Broad Arrow Auctions Reports $97.4 Million in Sales at Inaugural The Quail Auction
• Positive Sentiment: Jefferies reiterated its Buy rating. The broker maintained a €400 price target for Ferrari’s Milan-listed shares and a $435 target for the U.S.-listed stock, citing strong Monterey auction results as evidence of continued strength in the luxury auto market. Ferrari gets Jefferies backing as classic car auction prices surge
• Positive Sentiment: Ferrari’s first EV generated exceptional attention. A bespoke version of the Luce, Ferrari’s first fully electric vehicle, sold for $40 million at an RM Sotheby’s charity auction—the highest reported price for a new car at auction. Proceeds will support education initiatives through the Ferrari Foundation. The sale may help validate Ferrari’s EV desirability and preserve its premium image, though it was a one-off charity transaction. Ferrari's bespoke Luce EV one-off fetches $40 million at charity auction
• Neutral Sentiment: Performance-car coverage remains favorable but has limited financial impact. Media comparisons featuring the Ferrari 296 GTB and SF90 highlight the company’s performance credentials, but drag-race and enthusiast content is unlikely to directly affect near-term revenue or earnings.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Needham & Company LLC upgraded Ferrari to a "neutral" rating in a research note on Friday, July 31st. Citigroup restated a "neutral" rating on shares of Ferrari in a research note on Monday, August 3rd. Sanford C. Bernstein raised their target price on Ferrari from $402.00 to $460.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Morgan Stanley restated an "overweight" rating and set a $442.00 price objective on shares of Ferrari in a report on Friday, July 31st. Finally, Wolfe Research started coverage on Ferrari in a research note on Tuesday, July 7th. They set an "outperform" rating on the stock. Three investment 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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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