Itau Unibanco Holding S.A. Has $4.54 Million Stake in Ferrari N.V. $RACE

Key Points

• Itau Unibanco Holding S.A. sold 1,000 shares of Ferrari N.V., reducing its stake by 8.6%, and ended with 10,600 shares valued at approximately $4.54 million.
• Recent analyst reports show mixed sentiments towards Ferrari, with six analysts rating the stock as a Buy, while others have downgraded their ratings, resulting in an average target price of $528.33.
• Ferrari reported $2.70 EPS for the last quarter, surpassing estimates, while the company anticipates a full-year earnings per share of 9.22 for FY 2025.

Itau Unibanco Holding S.A. cut its stake in Ferrari N.V. (NYSE:RACE - Free Report) by 8.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,600 shares of the company's stock after selling 1,000 shares during the period. Itau Unibanco Holding S.A.'s holdings in Ferrari were worth $4,536,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. GW&K Investment Management LLC raised its stake in shares of Ferrari by 288.9% in the first quarter. GW&K Investment Management LLC now owns 70 shares of the company's stock worth $30,000 after acquiring an additional 52 shares during the last quarter. Park Square Financial Group LLC bought a new stake in shares of Ferrari during the fourth quarter worth approximately $32,000. Alpine Bank Wealth Management bought a new stake in shares of Ferrari during the first quarter worth approximately $33,000. Brooklyn Investment Group raised its stake in shares of Ferrari by 381.3% during the first quarter. Brooklyn Investment Group now owns 77 shares of the company's stock worth $33,000 after buying an additional 61 shares during the last quarter. Finally, Webster Bank N. A. bought a new stake in shares of Ferrari during the first quarter worth approximately $43,000.

Wall Street Analyst Weigh In

RACE has been the subject of a number of recent research reports. Citigroup reissued a "sell" rating on shares of Ferrari in a research note on Monday, August 11th. Wall Street Zen downgraded shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. UBS Group boosted 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. Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. Finally, Cfra Research cut shares of Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ferrari currently has a consensus rating of "Moderate Buy" and an average target price of $528.33.

Ferrari Stock Down 0.2%

Shares of Ferrari stock traded down $1.04 on Monday, hitting $477.95. The company had a trading volume of 186,867 shares, compared to its average volume of 427,336. The firm has a market capitalization of $115.84 billion, a P/E ratio of 49.32, a P/E/G ratio of 5.44 and a beta of 1.09. Ferrari N.V. has a twelve month low of $391.54 and a twelve month 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 stock has a 50-day moving average of $478.16 and a 200-day moving average of $467.04.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.13. The company had revenue of $2.12 billion during the quarter, compared to analysts' expectations of $2.05 billion. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. Research analysts predict that Ferrari N.V. will post 9.22 earnings per share 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.