Cookson Peirce & Co. Inc. Reduces Stock Position in Ferrari N.V. $RACE

Cookson Peirce & Co. Inc. lowered its stake in shares of Ferrari N.V. (NYSE:RACE) by 57.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,000 shares of the company’s stock after selling 1,325 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Ferrari were worth $491,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GW&K Investment Management LLC lifted its position in shares of Ferrari by 288.9% during the first quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock worth $30,000 after acquiring an additional 52 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in shares of Ferrari during the first quarter worth $33,000. Brooklyn Investment Group lifted its position in shares of Ferrari by 381.3% during the first quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock worth $33,000 after acquiring an additional 61 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Ferrari by 41.2% during the second 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, Centerpoint Advisors LLC purchased a new stake in shares of Ferrari during the first quarter worth $43,000.

Analyst Upgrades and Downgrades

RACE has been the topic of several research analyst reports. Sanford C. Bernstein decreased their price target on shares of Ferrari from $554.00 to $475.00 and set an “outperform” rating on the stock in a report on Friday, October 10th. UBS Group decreased their price target on shares of Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Cfra Research cut shares of Ferrari from a “hold” rating to a “moderate sell” rating in a report on Thursday, July 31st. Berenberg Bank set a $570.00 price target on shares of Ferrari in a report on Friday, October 3rd. Finally, Hsbc Global Res raised shares of Ferrari from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Ferrari presently has an average rating of “Buy” and an average price target of $505.50.

Ferrari Stock Up 2.3%

RACE opened at $402.96 on Friday. The stock has a market cap of $97.67 billion, a PE ratio of 41.59, a P/E/G ratio of 4.18 and a beta of 1.08. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89. Ferrari N.V. has a 52 week low of $372.31 and a 52 week high of $519.10. The business’s fifty day simple moving average is $461.02 and its 200 day simple moving average is $467.77.

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