Ferrari N.V. $RACE Shares Acquired by Lansforsakringar Fondforvaltning AB publ

Key Points

• Lansforsakringar Fondforvaltning AB publ increased its holdings in Ferrari N.V. by 7.9% in Q1, bringing its total to 46,207 shares valued at approximately $19.58 million.
• Several other institutional investors also boosted their positions in Ferrari, including Silvant Capital Management LLC, which increased its stake by 31.1%, and Groupe la Francaise, which acquired a new position valued at around $238.82 million.
• Ferrari reported a positive earnings surprise, with Q2 earnings per share of $2.70, surpassing analysts' expectations of $2.57, while the company's revenue also grew by 4.4% year-over-year.

Lansforsakringar Fondforvaltning AB publ grew its position in Ferrari N.V. (NYSE:RACE - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,207 shares of the company's stock after buying an additional 3,390 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in Ferrari were worth $19,576,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RACE. Silvant Capital Management LLC boosted its stake in shares of Ferrari by 31.1% in the first quarter. Silvant Capital Management LLC now owns 6,822 shares of the company's stock valued at $2,919,000 after purchasing an additional 1,620 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Ferrari by 26.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,153 shares of the company's stock worth $2,205,000 after purchasing an additional 1,088 shares in the last quarter. ICONIQ Capital LLC raised its stake in Ferrari by 40.0% in the first quarter. ICONIQ Capital LLC now owns 725 shares of the company's stock valued at $310,000 after buying an additional 207 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Ferrari by 23.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 532 shares of the company's stock worth $229,000 after buying an additional 102 shares during the last quarter. Finally, Groupe la Francaise acquired a new position in Ferrari in the first quarter valued at $238,818,000.

Ferrari Stock Performance

NYSE RACE traded up $1.75 during trading hours on Wednesday, reaching $493.83. The company's stock had a trading volume of 139,682 shares, compared to its average volume of 419,755. The business has a 50-day simple moving average of $478.88 and a 200 day simple moving average of $467.04. The stock has a market cap of $119.69 billion, a PE ratio of 50.96, a PEG ratio of 5.44 and a beta of 1.10. 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 N.V. has a 52 week low of $391.54 and a 52 week high of $519.10.

Ferrari (NYSE:RACE - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.57 by $0.13. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the business earned $2.29 earnings per share. Ferrari'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 predict that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RACE has been the topic of several research reports. Zacks Research downgraded shares of Ferrari from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 29th. Wall Street Zen cut shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Royal Bank Of Canada restated an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, UBS Group boosted their price target on Ferrari from $540.00 to $570.00 and gave the company a "buy" rating in a research report on Wednesday. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $531.67.

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.