Ferrari N.V. $RACE Shares Acquired by Redhawk Wealth Advisors Inc.

Key Points

• Redhawk Wealth Advisors Inc. increased its holdings in Ferrari N.V. by 18.3% in Q2, owning a total of 4,066 shares valued at approximately $1,995,000.
• Ferrari's stock price rose by 3.1%, reaching $484.56, with analysts projecting a consensus target price of $531.67.
• Ferrari reported a strong Q2 performance with $2.12 billion in revenue and $2.70 EPS, exceeding analysts' expectations of $2.05 billion and $2.57 EPS respectively.

Redhawk Wealth Advisors Inc. boosted its position in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 18.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,066 shares of the company's stock after purchasing an additional 630 shares during the quarter. Redhawk Wealth Advisors Inc.'s holdings in Ferrari were worth $1,995,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Ferrari by 60.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 148 shares of the company's stock valued at $63,000 after purchasing an additional 56 shares during the period. Squarepoint Ops LLC boosted its position in Ferrari by 129.3% during the 4th quarter. Squarepoint Ops LLC now owns 6,907 shares of the company's stock valued at $2,934,000 after acquiring an additional 3,895 shares in the last quarter. Vident Advisory LLC increased its holdings in shares of Ferrari by 4.9% in the 4th quarter. Vident Advisory LLC now owns 2,642 shares of the company's stock valued at $1,123,000 after acquiring an additional 124 shares during the period. Novem Group bought a new position in shares of Ferrari in the 4th quarter worth $821,000. Finally, Vise Technologies Inc. lifted its stake in shares of Ferrari by 5.1% during the 4th quarter. Vise Technologies Inc. now owns 2,252 shares of the company's stock worth $957,000 after purchasing an additional 110 shares during the last quarter.

Ferrari Stock Performance

Shares of RACE traded down $3.94 during trading hours on Friday, hitting $479.83. The stock had a trading volume of 456,640 shares, compared to its average volume of 280,396. 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 firm has a 50-day moving average price of $477.14 and a 200 day moving average price of $466.65. Ferrari N.V. has a fifty-two week low of $391.54 and a fifty-two week high of $519.10. The firm has a market capitalization of $116.30 billion, a price-to-earnings ratio of 49.52, a PEG ratio of 5.51 and a beta of 1.10.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, topping analysts' consensus estimates 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 firm's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, research analysts anticipate that Ferrari N.V. will post 9.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RACE shares. UBS Group boosted their target price 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 reaffirmed a "sell" rating on shares of Ferrari in a research report on Monday, August 11th. Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft raised shares of Ferrari from a "hold" rating to a "buy" rating in a report on Tuesday, September 2nd. Finally, Zacks Research lowered Ferrari from a "strong-buy" rating to a "hold" rating in a report on Friday, August 29th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock 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.