DekaBank Deutsche Girozentrale Has $145.27 Million Stake in Ferrari N.V. $RACE

Key Points

• DekaBank Deutsche Girozentrale increased its stake in Ferrari N.V. by 0.4%, owning approximately $145.27 million worth of the company's stock after acquiring an additional 1,199 shares.
• Ferrari reported earnings of $2.70 per share, exceeding estimates, with revenue of $2.12 billion representing a 4.4% year-over-year increase.
• Analysts have mixed views on Ferrari's stock, with a target price adjustment from $579 to $529 by UBS and Citigroup, highlighting a range of ratings from "Strong Buy" to "Sell" among research firms.

DekaBank Deutsche Girozentrale boosted its position in Ferrari N.V. (NYSE:RACE - Free Report) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 296,770 shares of the company's stock after buying an additional 1,199 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.12% of Ferrari worth $145,273,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Ferrari by 8.1% in the first quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company's stock valued at $2,165,683,000 after buying an additional 377,929 shares during the period. Bank of Italy lifted its holdings in Ferrari by 2.9% in the first quarter. Bank of Italy now owns 2,407,271 shares of the company's stock valued at $1,021,078,000 after buying an additional 67,651 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Ferrari by 52.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company's stock valued at $974,332,000 after buying an additional 781,587 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Ferrari by 1.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,822,147 shares of the company's stock valued at $779,661,000 after purchasing an additional 25,883 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in Ferrari by 8.1% in the first quarter. Alliancebernstein L.P. now owns 1,767,337 shares of the company's stock valued at $756,208,000 after purchasing an additional 131,945 shares in the last quarter.

Ferrari Trading Down 0.0%

NYSE:RACE opened at $398.92 on Tuesday. 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 firm has a 50-day moving average of $464.33 and a 200-day moving average of $468.73. The company has a market cap of $96.69 billion, a PE ratio of 41.17, a PEG ratio of 4.23 and a beta of 1.08. Ferrari N.V. has a one year low of $372.31 and a one year high of $519.10.

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. The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.05 billion. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, equities research analysts expect that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RACE has been the subject of several research analyst reports. UBS Group decreased their price target on shares of Ferrari from $579.00 to $529.00 and set a "buy" rating for the company in a research note on Thursday. Citigroup decreased their price target on shares of Ferrari from $579.00 to $529.00 and set a "buy" rating for the company in a research note on Thursday, October 16th. Cfra Research downgraded shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday, July 31st. Zacks Research downgraded shares of Ferrari from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 29th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $514.00.

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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