Dakota Wealth Management Sells 818 Shares of Ferrari N.V. $RACE

Key Points

• Dakota Wealth Management reduced its holdings in Ferrari N.V. by 31%, now owning 1,817 shares worth $892,000 after selling 818 shares in Q2.
• Ferrari reported Q2 earnings of $2.70 per share, exceeding analysts' expectations of $2.57, with revenue up 4.4% year-over-year at $2.12 billion.
• Analysts have mixed views on Ferrari; while UBS upgraded its price target to $570, Citigroup maintains a "sell" rating, resulting in a consensus rating of "Moderate Buy" with an average target price of $531.67.

Dakota Wealth Management cut its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 31.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,817 shares of the company's stock after selling 818 shares during the period. Dakota Wealth Management's holdings in Ferrari were worth $892,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GW&K Investment Management LLC increased its position in shares of Ferrari by 288.9% during the 1st quarter. GW&K Investment Management LLC now owns 70 shares of the company's stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Ferrari by 41.2% during the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company's stock valued at $35,000 after purchasing an additional 21 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in shares of Ferrari during the 1st quarter valued at $33,000. Brooklyn Investment Group increased its position in shares of Ferrari by 381.3% during the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company's stock valued at $33,000 after purchasing an additional 61 shares during the last quarter. Finally, Webster Bank N. A. purchased a new stake in shares of Ferrari during the 1st quarter valued at $43,000.

Ferrari Trading Up 0.3%

Shares of RACE stock opened at $474.73 on Friday. The company's fifty day simple moving average is $475.17 and its two-hundred day simple moving average is $467.86. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. Ferrari N.V. has a 1 year low of $391.54 and a 1 year high of $519.10. The stock has a market capitalization of $115.06 billion, a price-to-earnings ratio of 48.99, a PEG ratio of 3.83 and a beta of 1.10.

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

Analyst Ratings Changes

Several equities analysts recently commented on the company. Citigroup reiterated a "sell" rating on shares of Ferrari in a research note on Monday, August 11th. UBS Group upped their price objective on Ferrari from $540.00 to $570.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Cfra Research downgraded Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday, July 31st. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. Finally, Zacks Research downgraded Ferrari from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 29th. Eight 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $531.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.