Ferrari N.V. $RACE Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer & Co. Zurich reduced its Ferrari stake by 4.7% in the third quarter, selling 14,168 shares and retaining 287,443 shares valued at approximately $112.9 million.
• Ferrari reported quarterly EPS of $2.99, exceeding estimates of $2.83, while revenue rose 8.4% year over year to $2.21 billion. The stock opened at $396.31, near its $437.15 twelve-month high.
• Analysts maintain a generally positive outlook, with Ferrari receiving a “Moderate Buy” consensus rating and an average price target of $456.71.

Bank Julius Baer & Co. Ltd Zurich trimmed its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 4.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 287,443 shares of the company's stock after selling 14,168 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned 0.12% of Ferrari worth $112,917,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of RACE. Vise Technologies Inc. increased its holdings in shares of Ferrari by 49.7% in the third quarter. Vise Technologies Inc. now owns 2,082 shares of the company's stock valued at $818,000 after purchasing an additional 691 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Ferrari by 1,856.9% in the 3rd quarter. International Assets Investment Management LLC now owns 16,555 shares of the company's stock valued at $6,504,000 after purchasing an additional 15,709 shares during the period. Choreo LLC raised its position in Ferrari by 5.7% in the 3rd quarter. Choreo LLC now owns 1,194 shares of the company's stock valued at $469,000 after buying an additional 64 shares during the last quarter. D.A. Davidson & CO. lifted its position in Ferrari by 13.1% during the 3rd quarter. D.A. Davidson & CO. now owns 663 shares of the company's stock worth $261,000 after buying an additional 77 shares in the last quarter. Finally, William Mack & Associates Inc. bought a new position in shares of Ferrari in the third quarter valued at $40,000.

Ferrari Trading Up 0.1%

RACE stock opened at $396.31 on Monday. The company has a quick ratio of 3.70, a current ratio of 4.85 and a debt-to-equity ratio of 0.86. Ferrari N.V. has a twelve month low of $312.51 and a twelve month high of $437.15. The stock has a market capitalization of $92.71 billion, a price-to-earnings ratio of 36.79, a price-to-earnings-growth ratio of 3.56 and a beta of 0.93. The firm's fifty day simple moving average is $403.40 and its two-hundred day simple moving average is $369.39.

Ferrari (NYSE:RACE - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.16. The business had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.14 billion. Ferrari had a return on equity of 42.83% and a net margin of 22.29%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.38 EPS. As a group, analysts anticipate that Ferrari N.V. will post 11.10 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on RACE shares. JPMorgan Chase & Co. reiterated a "buy" rating on shares of Ferrari in a research report on Tuesday, September 29th. Citigroup reaffirmed a "neutral" rating on shares of Ferrari in a research note on Monday, August 3rd. Banca Akros cut shares of Ferrari to a "neutral" rating in a report on Monday, August 24th. Weiss Ratings raised shares of Ferrari from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, October 16th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Ferrari in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $456.71.

Ferrari Company Profile

Ferrari N.V. is an Italian luxury automotive company that designs, develops, manufactures and sells high-performance sports cars. Its vehicle portfolio includes grand touring models, mid- and rear-engine sports cars, limited-edition special series and high-performance supercars. Ferrari also offers extensive personalization options, allowing customers to tailor vehicle specifications, materials and finishes.

The company traces its origins to 1939, when Enzo Ferrari established Auto Avio Costruzioni, and it produced its first Ferrari-badged car in 1947.

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