Vestmark Advisory Solutions Inc. Has $892,000 Stock Position in Ferrari N.V. $RACE

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Ferrari N.V. by 101.0% in Q1, now holding shares valued at $892,000.
• Several institutional investors, including Vanguard Group Inc. and Goldman Sachs Group Inc., have also raised their holdings in Ferrari during the same quarter.
• Ferrari had a strong earnings performance, reporting $2.70 earnings per share for the last quarter, surpassing analysts' expectations.

Vestmark Advisory Solutions Inc. grew its stake in Ferrari N.V. (NYSE:RACE - Free Report) by 101.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,084 shares of the company's stock after acquiring an additional 1,047 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Ferrari were worth $892,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of RACE. GW&K Investment Management LLC increased its position in shares of Ferrari by 288.9% in the 1st quarter. GW&K Investment Management LLC now owns 70 shares of the company's stock valued at $30,000 after buying an additional 52 shares in the last quarter. Park Square Financial Group LLC bought a new stake in Ferrari in the 4th quarter valued at approximately $32,000. Alpine Bank Wealth Management bought a new stake in shares of Ferrari in the first quarter worth $33,000. Webster Bank N. A. acquired a new position in Ferrari during the first quarter worth $43,000. Finally, Centerpoint Advisors LLC bought a new position in Ferrari in the first quarter valued at $43,000.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RACE shares. Wall Street Zen lowered shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Citigroup reissued a "sell" rating on shares of Ferrari in a research report on Monday, August 11th. UBS Group boosted their price target on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. Finally, Cfra Research downgraded shares of Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. Seven 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $526.25.

Ferrari Stock Performance

Ferrari stock traded down $1.6380 during midday trading on Thursday, hitting $466.7820. The company's stock had a trading volume of 377,652 shares, compared to its average volume of 426,840. The company has a 50-day moving average price of $476.95 and a two-hundred day moving average price of $466.60. Ferrari N.V. has a 1-year low of $391.54 and a 1-year high of $519.10. The company has a market cap of $113.14 billion, a price-to-earnings ratio of 48.16, a PEG ratio of 5.09 and a beta of 1.09. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94.

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