Rockefeller Capital Management L.P. Invests $7.14 Million in Ferrari N.V. $RACE

Rockefeller Capital Management L.P. purchased a new position in Ferrari N.V. (NYSE:RACE) in the second quarter, Holdings Channel reports. The fund purchased 14,544 shares of the company’s stock, valued at approximately $7,138,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GW&K Investment Management LLC grew its position in shares of Ferrari by 288.9% in the 1st 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. Brooklyn Investment Group lifted its stake in Ferrari by 381.3% during the first quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock worth $33,000 after purchasing an additional 61 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Ferrari by 41.2% in the second quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock worth $35,000 after purchasing an additional 21 shares during the period. Creekmur Asset Management LLC increased its stake in Ferrari by 660.0% during the second quarter. Creekmur Asset Management LLC now owns 76 shares of the company’s stock valued at $37,000 after purchasing an additional 66 shares during the last quarter. Finally, Centerpoint Advisors LLC acquired a new stake in shares of Ferrari during the first quarter worth $43,000.

Ferrari Stock Down 1.7%

Shares of Ferrari stock opened at $383.13 on Friday. 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 N.V. has a 1-year low of $372.31 and a 1-year high of $519.10. The business’s fifty day moving average price is $432.26 and its two-hundred day moving average price is $463.03. The company has a market capitalization of $92.86 billion, a P/E ratio of 38.70, a PEG ratio of 4.13 and a beta of 1.07.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.15. Ferrari had a return on equity of 44.20% and a net margin of 22.65%.The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.94 billion. Ferrari has set its FY 2025 guidance at 10.290- EPS. As a group, research analysts forecast that Ferrari N.V. will post 9.22 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on RACE. Evercore ISI decreased their price target 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. Hsbc Global Res raised shares of Ferrari from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. Zacks Research lowered Ferrari from a “strong-buy” rating to a “hold” rating in a report on Friday, August 29th. Cfra Research cut Ferrari from a “hold” rating to a “moderate sell” rating in a research report on Thursday, July 31st. Finally, Weiss Ratings lowered Ferrari from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Ferrari currently has an average rating of “Buy” and an average target price of $504.29.

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.