Prosperity Financial Group Inc. Increases Holdings in Ferrari N.V. $RACE

Prosperity Financial Group Inc. grew its holdings in shares of Ferrari N.V. (NYSE:RACE) by 2.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,289 shares of the company’s stock after buying an additional 46 shares during the period. Prosperity Financial Group Inc.’s holdings in Ferrari were worth $1,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its holdings in shares of Ferrari by 52.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company’s stock valued at $974,332,000 after purchasing an additional 781,587 shares during the last quarter. Groupe la Francaise purchased a new stake in shares of Ferrari in the 1st quarter valued at about $238,818,000. Nuveen LLC purchased a new stake in shares of Ferrari in the 1st quarter valued at about $233,200,000. Vanguard Group Inc. lifted its holdings in shares of Ferrari by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company’s stock valued at $2,165,683,000 after purchasing an additional 377,929 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of Ferrari by 155.1% in the 1st quarter. Citigroup Inc. now owns 269,862 shares of the company’s stock valued at $115,469,000 after purchasing an additional 164,092 shares during the last quarter.

Ferrari Stock Performance

NYSE RACE opened at $394.14 on Thursday. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $462.26 and its two-hundred day moving average is $467.74. Ferrari N.V. has a 12-month low of $372.31 and a 12-month high of $519.10. The stock has a market capitalization of $95.53 billion, a price-to-earnings ratio of 40.67, a PEG ratio of 4.25 and a beta of 1.08.

Ferrari (NYSE:RACE) last released its earnings results on Thursday, July 31st. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.13. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the previous year, the firm posted $2.29 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. Ferrari has set its FY 2025 guidance at 9.751- EPS. Research analysts expect that Ferrari N.V. will post 9.22 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, September 2nd. HSBC raised Ferrari from a “hold” rating to a “buy” rating and set a $470.00 price objective for the company in a research note on Thursday, October 2nd. Cfra Research downgraded Ferrari from a “hold” rating to a “moderate sell” rating in a research note on Thursday, July 31st. 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. Finally, Hsbc Global Res raised Ferrari from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $505.50.

About Ferrari

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.