Allianz SE Increases Position in Ferrari N.V. $RACE

Allianz SE grew its stake in shares of Ferrari N.V. (NYSE:RACE) by 32.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,471 shares of the company’s stock after acquiring an additional 7,949 shares during the period. Allianz SE’s holdings in Ferrari were worth $15,935,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RACE. GW&K Investment Management LLC boosted its holdings in Ferrari by 288.9% in the first quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock worth $30,000 after purchasing an additional 52 shares during the period. GAMMA Investing LLC raised its holdings in shares of Ferrari by 41.2% during the second quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock worth $35,000 after purchasing an additional 21 shares during the period. Creekmur Asset Management LLC lifted its position in shares of Ferrari by 660.0% in the 2nd quarter. Creekmur Asset Management LLC now owns 76 shares of the company’s stock worth $37,000 after buying an additional 66 shares during the last quarter. Brooklyn Investment Group boosted its holdings in shares of Ferrari by 381.3% in the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock valued at $33,000 after buying an additional 61 shares during the period. Finally, Centerpoint Advisors LLC acquired a new position in shares of Ferrari in the 1st quarter valued at about $43,000.

Ferrari Stock Down 0.9%

NYSE:RACE opened at $418.73 on Thursday. The firm has a market capitalization of $101.49 billion, a price-to-earnings ratio of 42.30, a PEG ratio of 4.64 and a beta of 1.07. Ferrari N.V. has a 1-year low of $372.31 and a 1-year high of $519.10. The company has a current ratio of 4.90, a quick ratio of 3.78 and a debt-to-equity ratio of 0.76. The business’s fifty day moving average price is $442.00 and its 200 day moving average price is $465.53.

Ferrari (NYSE:RACE) last released its earnings results on Tuesday, November 4th. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.15. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Ferrari had a return on equity of 44.20% and a net margin of 22.65%. Ferrari has set its FY 2025 guidance at 10.290- EPS. On average, sell-side analysts forecast that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Ferrari in a report on Friday, October 31st. Zacks Research lowered Ferrari from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 29th. Hsbc Global Res upgraded Ferrari from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. Evercore ISI lowered their price target on shares of Ferrari from $580.00 to $475.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Finally, Citigroup dropped their price objective on shares of Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Ferrari currently has a consensus rating of “Buy” and an average price target of $504.29.

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.