Voya Investment Management LLC Has $7.42 Million Position in Ferrari N.V. $RACE

Voya Investment Management LLC lessened its position in Ferrari N.V. (NYSE:RACE) by 21.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,333 shares of the company’s stock after selling 4,134 shares during the period. Voya Investment Management LLC’s holdings in Ferrari were worth $7,415,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Newbridge Financial Services Group Inc. acquired a new position in Ferrari in the second quarter valued at about $30,000. Virtus Advisers LLC acquired a new stake in shares of Ferrari during the second quarter worth approximately $34,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Ferrari in the second quarter valued at approximately $35,000. GAMMA Investing LLC boosted its holdings in shares of Ferrari by 41.2% in the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock worth $35,000 after acquiring an additional 21 shares in the last quarter. Finally, Creekmur Asset Management LLC boosted its holdings in shares of Ferrari by 660.0% in the 2nd quarter. Creekmur Asset Management LLC now owns 76 shares of the company’s stock worth $37,000 after acquiring an additional 66 shares in the last quarter.

Ferrari Stock Performance

Shares of RACE stock opened at $376.19 on Thursday. Ferrari N.V. has a one year low of $356.93 and a one year high of $519.10. The company has a market cap of $91.18 billion, a P/E ratio of 38.00, a P/E/G ratio of 4.13 and a beta of 1.01. The firm has a 50-day moving average of $391.61 and a 200-day moving average of $445.28. 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 quarterly earnings data on Tuesday, November 4th. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.35 by $0.15. Ferrari had a net margin of 22.65% and a return on equity of 44.20%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.94 billion. Ferrari has set its FY 2025 guidance at 10.290- EPS. Equities research analysts forecast that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RACE. Zacks Research downgraded Ferrari from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 29th. Loop Capital set a $481.67 target price on Ferrari in a research note on Thursday, December 4th. HSBC raised shares of Ferrari from a “hold” rating to a “buy” rating and set a $470.00 price target on the stock in a research note on Thursday, October 2nd. Citigroup dropped their price target on shares of Ferrari from $579.00 to $529.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. Finally, Evercore ISI lowered their target price on shares of Ferrari from $580.00 to $475.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Four equities 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $489.47.

Ferrari Company 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.