Ferrari N.V. $RACE Shares Sold by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. has reduced its stake in Ferrari N.V. by 25.2%, selling 9,567 shares in the first quarter, leaving them with 28,427 shares worth approximately $12.16 million.
• Despite the decrease in stake by some hedge funds, several firms, such as UBS Group, have issued positive ratings and increased their price targets for Ferrari, with a consensus price target at $526.25.
• Ferrari reported earnings of $2.70 per share for the latest quarter, surpassing expectations and reflecting a 4.4% year-over-year revenue increase, prompting analysts to forecast earnings growth of $9.22 per share for the current fiscal year.

Northwestern Mutual Wealth Management Co. cut its position in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 25.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,427 shares of the company's stock after selling 9,567 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Ferrari were worth $12,163,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GW&K Investment Management LLC increased its position in shares of 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 acquiring an additional 52 shares during the last quarter. Park Square Financial Group LLC purchased a new position in Ferrari in the fourth quarter worth approximately $32,000. Alpine Bank Wealth Management purchased a new position in Ferrari in the first quarter worth approximately $33,000. Brooklyn Investment Group lifted its position in shares of Ferrari by 381.3% during the 1st 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. purchased a new stake in shares of Ferrari during the 1st quarter worth approximately $43,000.

Ferrari Trading Down 0.2%

RACE traded down $1.04 on Friday, reaching $477.95. 186,867 shares of the company's stock were exchanged, compared to its average volume of 501,894. The company's 50 day moving average is $478.16 and its 200-day moving average is $467.31. The company has a market cap of $115.84 billion, a price-to-earnings ratio of 49.32, a PEG ratio of 5.18 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 quick ratio of 3.94 and a current ratio of 5.09.

Ferrari (NYSE:RACE - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share (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 during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter last year, the company earned $2.29 earnings per share. Ferrari'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. Equities analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

RACE has been the subject of several recent analyst reports. Citigroup restated a "sell" rating on shares of Ferrari in a research report on Monday, August 11th. Wall Street Zen cut shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Cfra Research cut shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday, July 31st. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. Finally, UBS Group boosted their price objective on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $528.33.

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.