Ferrari N.V. $RACE Shares Sold by William Blair Investment Management LLC

Key Points

• William Blair Investment Management LLC reduced its holdings in Ferrari N.V. by 28.6% during Q2, now owning about 430,828 shares worth $211.4 million.
• Goldman Sachs significantly increased its position in Ferrari by 52.3% in Q1, now holding 2,277,115 shares valued at approximately $974.3 million.
• Ferrari reported $2.70 earnings per share for the last quarter, exceeding analysts' expectations of $2.57, and announced a fiscal year 2025 guidance of 9.751 EPS.

William Blair Investment Management LLC trimmed its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 28.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 430,828 shares of the company's stock after selling 172,310 shares during the period. William Blair Investment Management LLC owned about 0.18% of Ferrari worth $211,425,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in RACE. Goldman Sachs Group Inc. raised its position in shares of Ferrari by 52.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company's stock valued at $974,332,000 after purchasing an additional 781,587 shares in the last quarter. Groupe la Francaise acquired a new position in shares of Ferrari in the 1st quarter valued at approximately $238,818,000. Nuveen LLC acquired a new position in shares of Ferrari in the 1st quarter valued at approximately $233,200,000. Vanguard Group Inc. raised its position in shares of Ferrari by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company's stock valued at $2,165,683,000 after purchasing an additional 377,929 shares in the last quarter. Finally, Citigroup Inc. raised its position in shares of Ferrari by 155.1% in the 1st quarter. Citigroup Inc. now owns 269,862 shares of the company's stock valued at $115,469,000 after purchasing an additional 164,092 shares in the last quarter.

Ferrari Price Performance

Shares of NYSE RACE opened at $399.26 on Friday. Ferrari N.V. has a 1-year low of $372.31 and a 1-year high of $519.10. 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 business's fifty day moving average price is $465.18 and its two-hundred day moving average price is $468.37. The firm has a market capitalization of $96.77 billion, a PE ratio of 41.20, a P/E/G ratio of 4.16 and a beta of 1.08.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on RACE shares. Berenberg Bank set a $570.00 target price on Ferrari in a research report on Friday, October 3rd. Weiss Ratings reissued a "buy (b)" rating on shares of Ferrari in a research report on Wednesday, October 8th. Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Sanford C. Bernstein dropped their price target on Ferrari from $554.00 to $475.00 and set an "outperform" rating on the stock in a research report on Friday, October 10th. Finally, Zacks Research lowered Ferrari from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 29th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Ferrari currently has an average rating of "Buy" and a consensus target price of $514.00.

Ferrari 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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