Scientech Research LLC Purchases 3,047 Shares of Ferrari N.V. $RACE

Key Points

• Scientech Research LLC increased its stake in Ferrari N.V. by 529.0% in the first quarter, now owning 3,623 shares valued at approximately $1,550,000.
• Analysts have mixed views on Ferrari's stock, with Zacks Research downgrading it from "strong-buy" to "hold," while seven analysts maintain a Buy rating with an average price target of $531.67.
• Ferrari reported Q2 earnings of $2.70 per share, exceeding estimates, with revenue increasing by 4.4% year-over-year to reach $2.12 billion.

Scientech Research LLC grew its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 529.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,623 shares of the company's stock after purchasing an additional 3,047 shares during the period. Ferrari makes up 0.4% of Scientech Research LLC's investment portfolio, making the stock its 27th largest holding. Scientech Research LLC's holdings in Ferrari were worth $1,550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its holdings in Ferrari by 52.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company's stock worth $974,332,000 after buying an additional 781,587 shares during the period. Groupe la Francaise bought a new position in shares of Ferrari in the 1st quarter worth approximately $238,818,000. Nuveen LLC purchased a new position in shares of Ferrari in the 1st quarter valued at approximately $233,200,000. Vanguard Group Inc. boosted its position in shares of Ferrari by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company's stock valued at $2,165,683,000 after purchasing an additional 377,929 shares in the last quarter. Finally, Citigroup Inc. boosted its position in shares of Ferrari by 155.1% during the first quarter. Citigroup Inc. now owns 269,862 shares of the company's stock valued at $115,469,000 after purchasing an additional 164,092 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts have commented on RACE shares. Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. UBS Group lifted their price target on shares of Ferrari from $540.00 to $570.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a report on Tuesday, September 2nd. Zacks Research downgraded shares of Ferrari from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 29th. Finally, Cfra Research lowered shares of Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $531.67.

Ferrari Stock Down 0.3%

RACE traded down $1.28 during trading on Friday, hitting $478.08. 80,079 shares of the company's stock traded hands, compared to its average volume of 415,505. The stock has a market capitalization of $115.88 billion, a price-to-earnings ratio of 49.34, a PEG ratio of 5.40 and a beta of 1.10. The company's 50 day simple moving average is $478.63 and its two-hundred day simple moving average is $466.38. Ferrari N.V. has a 12-month low of $391.54 and a 12-month high of $519.10. 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 (NYSE:RACE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.13. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The firm had revenue of $2.12 billion during the quarter, compared to analysts' expectations of $2.05 billion. During the same quarter in the previous year, the business earned $2.29 earnings per share. The company's revenue was up 4.4% on a year-over-year basis. Ferrari has set its FY 2025 guidance at 9.751- EPS. Analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

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.