Ferrari N.V. $RACE Shares Sold by Alapocas Investment Partners Inc.

Key Points

• Alapocas Investment Partners Inc. sold 1,358 shares of Ferrari N.V., reducing its stake by 6.6%, with remaining holdings valued at approximately $9.42 million.
• Ferrari reported earnings of $2.70 per share for Q2, exceeding analyst estimates, with revenues reaching $2.12 billion, up 4.4% from the previous year.
• Recent analyst ratings for Ferrari include upgrades from HSBC and Deutsche Bank, with a consensus price target of $514.00 and a general "Buy" rating.

Alapocas Investment Partners Inc. reduced its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 6.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,198 shares of the company's stock after selling 1,358 shares during the period. Ferrari comprises approximately 6.0% of Alapocas Investment Partners Inc.'s holdings, making the stock its 8th biggest position. Alapocas Investment Partners Inc.'s holdings in Ferrari were worth $9,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Sound View Wealth Advisors Group LLC boosted its holdings in shares of Ferrari by 1.0% in 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 during the period. GAMMA Investing LLC boosted its holdings in shares of Ferrari by 41.2% in the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company's stock valued at $35,000 after buying an additional 21 shares during the period. Rehmann Capital Advisory Group boosted its holdings in shares of Ferrari by 3.9% in 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 during the period. Inspire Investing LLC boosted its holdings in shares of Ferrari by 0.7% in the 2nd quarter. Inspire Investing LLC now owns 4,332 shares of the company's stock valued at $2,126,000 after buying an additional 28 shares during the period. Finally, Aviso Financial Inc. boosted its holdings in shares of Ferrari by 1.1% in the 1st quarter. Aviso Financial Inc. now owns 2,835 shares of the company's stock valued at $1,213,000 after buying an additional 30 shares during the period.

Ferrari Stock Down 0.0%

RACE stock opened at $398.92 on Tuesday. Ferrari N.V. has a 12 month low of $372.31 and a 12 month high of $519.10. The firm has a 50 day simple moving average of $464.33 and a 200 day simple moving average of $468.73. 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 market cap of $96.69 billion, a PE ratio of 41.17, a P/E/G ratio of 4.23 and a beta of 1.08.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly 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 analyst estimates of $2.05 billion. During the same quarter in the previous year, the business earned $2.29 earnings per share. The firm's revenue was up 4.4% compared to the same quarter last year. Ferrari has set its FY 2025 guidance at 9.751- EPS. Equities research analysts forecast that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on RACE. HSBC upgraded shares of Ferrari from a "hold" rating to a "buy" rating and set a $470.00 price objective on the stock in a research report on Thursday, October 2nd. Sanford C. Bernstein reduced their price target on shares of Ferrari from $554.00 to $475.00 and set an "outperform" rating for the company in a research note on Friday, October 10th. Deutsche Bank Aktiengesellschaft raised shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Tuesday, September 2nd. Zacks Research lowered shares of Ferrari from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 29th. Finally, Citigroup reduced 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. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target 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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