Ferrari N.V. $RACE Shares Bought by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership lifted its stake in shares of Ferrari N.V. (NYSE:RACE) by 21.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 134,713 shares of the company’s stock after acquiring an additional 23,566 shares during the quarter. Artisan Partners Limited Partnership owned about 0.06% of Ferrari worth $66,109,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

RACE has been the subject of a number of research analyst reports. UBS Group upped their price target on shares of Ferrari from $529.00 to $554.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, September 2nd. Zacks Research lowered shares of Ferrari from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 29th. Berenberg Bank set a $570.00 price target on Ferrari in a report on Friday, October 3rd. Finally, Citigroup reduced their price objective on Ferrari from $579.00 to $529.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ferrari currently has a consensus rating of “Buy” and an average target price of $504.29.

Ferrari Stock Down 1.7%

RACE stock opened at $383.13 on Friday. Ferrari N.V. has a 52-week low of $372.31 and a 52-week high of $519.10. The company’s 50 day simple moving average is $432.26 and its 200-day simple moving average is $463.03. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.90 and a quick ratio of 3.78. The firm has a market capitalization of $92.86 billion, a P/E ratio of 38.70, a P/E/G ratio of 4.13 and a beta of 1.07.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.15. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.94 billion. Ferrari had a net margin of 22.65% and a return on equity of 44.20%. Ferrari has set its FY 2025 guidance at 10.290- EPS. As a group, equities research analysts anticipate that Ferrari N.V. will post 9.22 EPS for the current year.

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.