Kingswood Wealth Advisors LLC Has $385,000 Holdings in Ferrari N.V. $RACE

Kingswood Wealth Advisors LLC cut its stake in shares of Ferrari N.V. (NYSE:RACE) by 48.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 785 shares of the company’s stock after selling 740 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Ferrari were worth $385,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bridgewater Advisors Inc. acquired a new stake in shares of Ferrari during the first quarter worth $492,000. Thoroughbred Financial Services LLC boosted its position in shares of Ferrari by 39.7% during the first quarter. Thoroughbred Financial Services LLC now owns 10,286 shares of the company’s stock worth $4,401,000 after purchasing an additional 2,925 shares in the last quarter. Banco Santander S.A. boosted its position in shares of Ferrari by 35.3% during the first quarter. Banco Santander S.A. now owns 560,999 shares of the company’s stock worth $240,040,000 after purchasing an additional 146,279 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its position in shares of Ferrari by 75.1% during the first quarter. Dynamic Technology Lab Private Ltd now owns 3,580 shares of the company’s stock worth $1,532,000 after purchasing an additional 1,535 shares in the last quarter. Finally, Callan Family Office LLC boosted its position in shares of Ferrari by 146.3% during the first quarter. Callan Family Office LLC now owns 2,763 shares of the company’s stock worth $1,182,000 after purchasing an additional 1,641 shares in the last quarter.

Ferrari Trading Down 3.0%

RACE opened at $395.30 on Friday. The stock has a market capitalization of $95.81 billion, a P/E ratio of 40.79, a P/E/G ratio of 3.28 and a beta of 1.08. Ferrari N.V. has a 12 month low of $391.54 and a 12 month high of $519.10. The firm’s fifty day simple moving average is $470.68 and its 200 day simple moving average is $469.66. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89.

Ferrari (NYSE:RACE) last issued its quarterly earnings results 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 net margin of 22.95% and a return on equity of 45.41%. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period in the previous year, the business earned $2.29 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, research analysts anticipate that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RACE. Citigroup reissued a “sell” rating on shares of Ferrari in a research report on Monday, August 11th. Hsbc Global Res raised shares of Ferrari from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 2nd. UBS Group lifted their price target on shares of Ferrari from $570.00 to $579.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Cfra Research cut shares of Ferrari from a “hold” rating to a “moderate sell” rating in a research report on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ferrari in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Ferrari has a consensus rating of “Moderate Buy” and a consensus price target of $519.83.

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.