Voya Investment Management LLC Lowers Position in Ferrari N.V. $RACE

Voya Investment Management LLC decreased its holdings in shares of Ferrari N.V. (NYSE:RACE) by 21.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,796 shares of the company’s stock after selling 5,509 shares during the quarter. Voya Investment Management LLC’s holdings in Ferrari were worth $8,387,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Ferrari by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company’s stock worth $2,165,683,000 after buying an additional 377,929 shares in the last quarter. Bank of Italy grew its position in Ferrari by 2.9% in the first quarter. Bank of Italy now owns 2,407,271 shares of the company’s stock worth $1,021,078,000 after acquiring an additional 67,651 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Ferrari by 52.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company’s stock valued at $974,332,000 after acquiring an additional 781,587 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Ferrari by 1.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,822,147 shares of the company’s stock valued at $779,661,000 after purchasing an additional 25,883 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Ferrari by 8.1% during the first quarter. Alliancebernstein L.P. now owns 1,767,337 shares of the company’s stock worth $756,208,000 after purchasing an additional 131,945 shares during the last quarter.

Ferrari Trading Down 2.2%

RACE opened at $469.94 on Thursday. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89. Ferrari N.V. has a 52 week low of $391.54 and a 52 week high of $519.10. The stock has a market cap of $113.90 billion, a PE ratio of 48.50, a PEG ratio of 5.47 and a beta of 1.10. The business has a 50 day moving average of $477.62 and a 200-day moving average of $466.37.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.13. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.05 billion. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. Equities research analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RACE has been the topic of a number of research reports. Zacks Research cut Ferrari from a “strong-buy” rating to a “hold” rating in a report on Friday, August 29th. Berenberg Bank initiated coverage on shares of Ferrari in a research note on Tuesday. They set a “buy” rating on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferrari in a research note on Monday, August 4th. Cfra Research lowered shares of Ferrari from a “hold” rating to a “moderate sell” rating in a report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, September 2nd. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $531.67.

About Ferrari

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.