Charles Schwab Investment Management Inc. Grows Holdings in Ferrari N.V. $RACE

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Ferrari N.V. by 12.1% in the first quarter, owning 11,362 shares valued at $4.86 million.
• Ferrari reported earnings of $2.70 per share for the last quarter, exceeding estimates, with a revenue of $2.12 billion, which was also above expectations.
• The average rating for Ferrari's stock is currently a "Moderate Buy," with an average target price of $528.33 according to analysts.

Charles Schwab Investment Management Inc. increased its position in Ferrari N.V. (NYSE:RACE - Free Report) by 12.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,362 shares of the company's stock after purchasing an additional 1,223 shares during the period. Charles Schwab Investment Management Inc.'s holdings in Ferrari were worth $4,862,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. ASR Vermogensbeheer N.V. bought a new position in Ferrari in the 1st quarter worth about $16,852,000. Citizens Financial Group Inc. RI boosted its stake in Ferrari by 19.6% in the 1st quarter. Citizens Financial Group Inc. RI now owns 707 shares of the company's stock worth $303,000 after purchasing an additional 116 shares in the last quarter. Vanguard Group Inc. boosted its stake in Ferrari by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company's stock worth $2,165,683,000 after purchasing an additional 377,929 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Ferrari by 52.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company's stock worth $974,332,000 after purchasing an additional 781,587 shares in the last quarter. Finally, Atria Wealth Solutions Inc. boosted its stake in Ferrari by 67.5% in the 1st quarter. Atria Wealth Solutions Inc. now owns 1,022 shares of the company's stock worth $437,000 after purchasing an additional 412 shares in the last quarter.

Wall Street Analyst Weigh In

RACE has been the topic of a number of analyst reports. UBS Group upped their price target on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Cfra Research cut shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday, July 31st. Royal Bank Of Canada restated an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. Wall Street Zen cut shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Citigroup reiterated a "sell" rating on shares of Ferrari in a research note on Monday, August 11th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Ferrari has a consensus rating of "Moderate Buy" and an average target price of $528.33.

Ferrari Stock Performance

Ferrari stock traded down $1.04 during midday trading on Monday, hitting $477.95. The stock had a trading volume of 186,867 shares, compared to its average volume of 427,336. The firm's fifty day moving average is $478.16 and its two-hundred day moving average is $467.04. The company has a market capitalization of $115.84 billion, a PE ratio of 49.32, a P/E/G ratio of 5.44 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 current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89.

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