Assenagon Asset Management S.A. Has $6.37 Million Stock Holdings in Ferrari N.V. $RACE

Assenagon Asset Management S.A. decreased its position in Ferrari N.V. (NYSE:RACE) by 72.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,152 shares of the company’s stock after selling 34,804 shares during the period. Assenagon Asset Management S.A.’s holdings in Ferrari were worth $6,369,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Ferrari by 12.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 11,362 shares of the company’s stock valued at $4,862,000 after acquiring an additional 1,223 shares during the period. Brooklyn Investment Group lifted its holdings in shares of Ferrari by 381.3% during the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock valued at $33,000 after purchasing an additional 61 shares in the last quarter. Summit Financial LLC bought a new position in shares of Ferrari during the 1st quarter valued at about $228,000. CW Advisors LLC acquired a new position in shares of Ferrari in the 1st quarter valued at approximately $423,000. Finally, 1832 Asset Management L.P. increased its stake in Ferrari by 1.0% during the 1st quarter. 1832 Asset Management L.P. now owns 7,513 shares of the company’s stock worth $3,215,000 after purchasing an additional 78 shares in the last quarter.

Ferrari Stock Up 1.5%

Ferrari stock opened at $378.41 on Monday. The company has a current ratio of 4.90, a quick ratio of 3.78 and a debt-to-equity ratio of 0.76. Ferrari N.V. has a 1-year low of $356.93 and a 1-year high of $519.10. The company has a fifty day simple moving average of $392.08 and a 200 day simple moving average of $447.26. The company has a market cap of $91.72 billion, a P/E ratio of 38.22, a price-to-earnings-growth ratio of 4.16 and a beta of 1.01.

Ferrari (NYSE:RACE) last issued its quarterly 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 for 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. Research analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RACE. UBS Group reaffirmed a “buy” rating and issued a $563.00 price target on shares of Ferrari in a research note on Friday, November 28th. Evercore ISI dropped their price objective on shares of Ferrari from $580.00 to $475.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Berenberg Bank set a $570.00 price objective on shares of Ferrari in a research report on Friday, October 3rd. Loop Capital set a $481.67 target price on shares of Ferrari in a research note on Thursday, December 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, September 2nd. Four research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $489.47.

Ferrari Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.