Nissay Asset Management Corp Japan ADV Sells 1,322 Shares of Ferrari N.V. $RACE

Nissay Asset Management Corp Japan ADV cut its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 17.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,472 shares of the company's stock after selling 1,322 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Ferrari were worth $2,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. GW&K Investment Management LLC lifted its position in Ferrari by 288.9% during the first quarter. GW&K Investment Management LLC now owns 70 shares of the company's stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. Park Square Financial Group LLC bought a new stake in Ferrari during the fourth quarter valued at approximately $32,000. Alpine Bank Wealth Management bought a new stake in Ferrari during the first quarter valued at approximately $33,000. Brooklyn Investment Group lifted its position in Ferrari by 381.3% during the first quarter. Brooklyn Investment Group now owns 77 shares of the company's stock valued at $33,000 after purchasing an additional 61 shares during the last quarter. Finally, Webster Bank N. A. bought a new stake in Ferrari during the first quarter valued at approximately $43,000.

Ferrari Trading Down 0.3%

NYSE:RACE traded down $1.47 during midday trading on Friday, reaching $477.89. 158,669 shares of the stock traded hands, compared to its average volume of 296,652. The company has a fifty day moving average of $478.37 and a 200 day moving average of $466.20. Ferrari N.V. has a 12 month low of $391.54 and a 12 month high of $519.10. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.94 and a current ratio of 5.09. The stock has a market capitalization of $115.83 billion, a P/E ratio of 49.32, a PEG ratio of 5.46 and a beta of 1.10.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.70 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 company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period in the prior year, the business posted $2.29 EPS. 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. On average, research analysts predict that Ferrari N.V. will post 9.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Tuesday, September 2nd. UBS Group boosted their price objective on shares of Ferrari from $540.00 to $570.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Citigroup restated a "sell" rating on shares of Ferrari in a report on Monday, August 11th. Cfra Research lowered shares of Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Ferrari in a report on Monday, August 4th. Seven research 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.