MassMutual Private Wealth & Trust FSB Trims Stock Position in Ferrari N.V. $RACE

MassMutual Private Wealth & Trust FSB lowered its position in shares of Ferrari N.V. (NYSE:RACE) by 11.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 299 shares of the company’s stock after selling 39 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Ferrari were worth $147,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of RACE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Ferrari by 60.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 148 shares of the company’s stock valued at $63,000 after acquiring an additional 56 shares in the last quarter. Squarepoint Ops LLC raised its holdings in Ferrari by 129.3% in the 4th quarter. Squarepoint Ops LLC now owns 6,907 shares of the company’s stock worth $2,934,000 after purchasing an additional 3,895 shares in the last quarter. Vident Advisory LLC increased its stake in shares of Ferrari by 4.9% in the 4th quarter. Vident Advisory LLC now owns 2,642 shares of the company’s stock worth $1,123,000 after acquiring an additional 124 shares in the last quarter. Vise Technologies Inc. grew its holdings in shares of Ferrari by 5.1% during the fourth quarter. Vise Technologies Inc. now owns 2,252 shares of the company’s stock valued at $957,000 after buying an additional 110 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Ferrari by 46.4% during the 4th quarter. Sunbelt Securities Inc. now owns 864 shares of the company’s stock valued at $369,000 after acquiring an additional 274 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RACE shares. Berenberg Bank began coverage on shares of Ferrari in a research note on Tuesday. They set a “buy” rating on the stock. UBS Group boosted their target price on shares of Ferrari from $540.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Cfra Research downgraded shares of Ferrari from a “hold” rating to a “moderate sell” rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, September 2nd. Finally, Citigroup reaffirmed a “sell” rating on shares of Ferrari in a research note on Monday, August 11th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $531.67.

Ferrari Stock Down 0.8%

Shares of NYSE:RACE opened at $479.83 on Friday. 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’s fifty day simple moving average is $477.14 and its 200-day simple moving average is $466.65. The company has a market capitalization of $116.30 billion, a P/E ratio of 49.52, a P/E/G ratio of 5.51 and a beta of 1.10.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the business earned $2.29 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, equities research analysts forecast 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.