USS Investment Management Ltd Sells 2,801 Shares of Ferrari N.V. $RACE

Key Points

• USS Investment Management Ltd sold 2,801 shares of Ferrari N.V., reducing its holdings by 10.3% to a total of 24,320 shares valued at approximately $10.3 million.
• Ferrari reported $2.70 earnings per share (EPS) for the last quarter, exceeding estimates, with revenues reaching $2.12 billion, representing a 4.4% year-over-year increase.
• Analysts have given Ferrari a consensus rating of "Moderate Buy" with a price target averaging $531.67, following mixed evaluations from various research firms.

USS Investment Management Ltd lowered its holdings in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 10.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,320 shares of the company's stock after selling 2,801 shares during the quarter. USS Investment Management Ltd's holdings in Ferrari were worth $10,326,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bridgewater Advisors Inc. bought a new position in shares of Ferrari during the 1st quarter valued at $492,000. Zurich Insurance Group Ltd FI raised its holdings in shares of Ferrari by 13.2% during the 4th quarter. Zurich Insurance Group Ltd FI now owns 79,796 shares of the company's stock valued at $34,042,000 after purchasing an additional 9,274 shares in the last quarter. Thoroughbred Financial Services LLC raised its holdings in shares of Ferrari by 39.7% during the 1st quarter. Thoroughbred Financial Services LLC now owns 10,286 shares of the company's stock valued at $4,401,000 after purchasing an additional 2,925 shares in the last quarter. Banco Santander S.A. raised its holdings in shares of Ferrari by 35.3% during the 1st quarter. Banco Santander S.A. now owns 560,999 shares of the company's stock valued at $240,040,000 after purchasing an additional 146,279 shares in the last quarter. Finally, Callan Family Office LLC raised its holdings in shares of Ferrari by 146.3% during the 1st quarter. Callan Family Office LLC now owns 2,763 shares of the company's stock valued at $1,182,000 after purchasing an additional 1,641 shares in the last quarter.

Ferrari Stock Performance

Shares of RACE opened at $489.06 on Monday. The company has a market capitalization of $118.54 billion, a PE ratio of 50.47, a price-to-earnings-growth ratio of 5.57 and a beta of 1.09. Ferrari N.V. has a one year low of $391.54 and a one year high of $519.10. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. The company's fifty day moving average price is $479.60 and its 200 day moving average price is $466.55.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.13. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.05 billion. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The business's quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the business posted $2.29 EPS. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, analysts expect that Ferrari N.V. will post 9.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Cfra Research downgraded shares of Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. Wall Street Zen downgraded shares of Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ferrari in a report on Monday, August 4th. Zacks Research downgraded shares of Ferrari from a "strong-buy" rating to a "hold" rating in a report on Friday, August 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a report on Tuesday, September 2nd. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $531.67.

Ferrari Company 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.

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