SummitTX Capital L.P. Cuts Stake in Ferrari N.V. $RACE

Key Points

• SummitTX Capital cut its Ferrari stake by 42.1% in the first quarter, selling 3,235 shares and retaining 4,450 shares valued at approximately $1.506 million.
• Ferrari shares opened at $385.56, with the stock down 1.2%; the company has a $90.2 billion market capitalization and trades at a price-to-earnings ratio of 37.
• Analysts remain broadly positive, with Ferrari carrying a consensus “Moderate Buy” rating and an average price target of $471.97. Strong early demand for its first electric model, the Luce, is also supporting investor confidence in the company’s EV strategy.

SummitTX Capital L.P. reduced its stake in Ferrari N.V. (NYSE:RACE - Free Report) by 42.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,450 shares of the company's stock after selling 3,235 shares during the period. SummitTX Capital L.P.'s holdings in Ferrari were worth $1,506,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fideuram Asset Management Ireland dac bought a new stake in shares of Ferrari during the 4th quarter valued at $29,000. Entrust Financial LLC bought a new position in Ferrari during the 4th quarter valued at approximately $33,000. Bellevue Asset Management LLC purchased a new position in shares of Ferrari in the 1st quarter worth about $34,000. Bamco Inc. NY lifted its stake in shares of Ferrari by 790.9% in the fourth quarter. Bamco Inc. NY now owns 98 shares of the company's stock worth $36,000 after buying an additional 87 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its stake in Ferrari by 70.0% during the 4th quarter. CoreCap Advisors LLC now owns 102 shares of the company's stock valued at $38,000 after purchasing an additional 42 shares during the last quarter.

Ferrari Trading Down 1.2%

Shares of RACE stock opened at $385.56 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.20 and a quick ratio of 4.08. The company has a market cap of $90.20 billion, a price-to-earnings ratio of 37.00, a PEG ratio of 3.35 and a beta of 0.92. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $505.54. The firm has a fifty day moving average price of $363.21 and a 200-day moving average price of $352.58.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Sanford C. Bernstein reiterated an "outperform" rating on shares of Ferrari in a research note on Tuesday, June 2nd. Morgan Stanley upgraded Ferrari from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $388.00 to $438.00 in a research note on Monday, June 15th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Ferrari in a report on Wednesday, July 8th. Wolfe Research began coverage on Ferrari in a research report on Tuesday, July 7th. They set an "outperform" rating for the company. Finally, UBS Group increased their target price on Ferrari from $483.00 to $497.00 and gave the company a "buy" rating in a report on Thursday, July 2nd. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $471.97.

Trending Headlines about Ferrari

Here are the key news stories impacting Ferrari this week:

• Positive Sentiment: Strong early demand for the Luce EV: Ferrari has reportedly reached its full-year 2026 sales target for the Luce, its first all-electric model, only two months after launch. Strong demand from China is reportedly a key driver. The update supports Ferrari’s ability to sell high-priced EVs despite criticism of the model’s unconventional design and reduces concerns about the company’s transition to electric vehicles. Reuters article Financial Times article
• Positive Sentiment: Positive commentary on Ferrari’s first EV: A TechCrunch report characterized the Luce’s early performance as solid, reinforcing the view that demand has so far outweighed negative public reaction. Continued order momentum, particularly in China, could improve investor confidence in Ferrari’s EV investments. TechCrunch article
• Neutral Sentiment: Performance-car visibility: A drag race featuring a Ferrari F8 against a Tesla Model X Plaid highlights Ferrari’s performance credentials but is primarily entertainment content and has limited direct implications for earnings. Tesla and Ferrari drag race
• Negative Sentiment: Formula 1 disappointment: Reports describing Ferrari’s missed opportunity at the Hungarian Grand Prix could weigh modestly on brand sentiment, although the race result does not materially change the company’s near-term financial outlook. Ferrari F1 Hungary report

Ferrari Profile

Ferrari N.V. NYSE: RACE is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company's core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.

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