American Century Companies Inc. Makes New Investment in Ferrari N.V. $RACE

American Century Companies Inc. bought a new position in shares of Ferrari N.V. (NYSE:RACE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 223,184 shares of the company’s stock, valued at approximately $109,526,000. American Century Companies Inc. owned 0.09% of Ferrari at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RACE. Sound View Wealth Advisors Group LLC lifted its position in shares of Ferrari by 1.0% in the first quarter. Sound View Wealth Advisors Group LLC now owns 2,198 shares of the company’s stock valued at $940,000 after acquiring an additional 21 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Ferrari by 41.2% in the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock valued at $35,000 after purchasing an additional 21 shares in the last quarter. Allworth Financial LP grew its stake in Ferrari by 7.5% in the 2nd quarter. Allworth Financial LP now owns 330 shares of the company’s stock worth $162,000 after acquiring an additional 23 shares during the period. Inspire Investing LLC lifted its holdings in shares of Ferrari by 0.7% during the 2nd quarter. Inspire Investing LLC now owns 4,332 shares of the company’s stock worth $2,126,000 after acquiring an additional 28 shares during the period. Finally, Aviso Financial Inc. raised its position in shares of Ferrari by 1.1% in the 1st quarter. Aviso Financial Inc. now owns 2,835 shares of the company’s stock worth $1,213,000 after buying an additional 30 shares during the period.

Analyst Ratings Changes

Several research analysts recently commented on RACE shares. Berenberg Bank set a $570.00 price target on shares of Ferrari in a report on Friday, October 3rd. Cfra Research downgraded Ferrari from a “hold” rating to a “moderate sell” rating in a research report on Thursday, July 31st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ferrari in a report on Monday. Evercore ISI dropped their target price on Ferrari from $580.00 to $475.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. Finally, Sanford C. Bernstein reduced their target price on Ferrari from $554.00 to $475.00 and set an “outperform” rating for the company in a research note on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $498.00.

Ferrari Trading Up 0.9%

NYSE:RACE opened at $384.99 on Wednesday. The firm has a market capitalization of $93.31 billion, a P/E ratio of 38.89, a P/E/G ratio of 4.04 and a beta of 1.07. The business has a 50 day simple moving average of $426.63 and a 200 day simple moving average of $460.86. Ferrari N.V. has a 12-month low of $372.31 and a 12-month high of $519.10. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.90 and a quick ratio of 3.78.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, November 4th. The company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.35 by $0.15. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations 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. Equities research analysts predict 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.