Vestmark Advisory Solutions Inc. Reduces Stake in Ferrari N.V. $RACE

Vestmark Advisory Solutions Inc. cut its holdings in shares of Ferrari N.V. (NYSE:RACE) by 49.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,045 shares of the company’s stock after selling 1,039 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Ferrari were worth $513,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GW&K Investment Management LLC boosted its stake in shares of Ferrari by 288.9% during the 1st quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock valued at $30,000 after purchasing an additional 52 shares in the last quarter. Brooklyn Investment Group lifted its holdings in Ferrari by 381.3% in the first quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock worth $33,000 after buying an additional 61 shares during the period. GAMMA Investing LLC boosted its position in Ferrari by 41.2% during the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock valued at $35,000 after acquiring an additional 21 shares in the last quarter. Creekmur Asset Management LLC grew its holdings in shares of Ferrari by 660.0% during 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 during the period. Finally, Centerpoint Advisors LLC bought a new position in shares of Ferrari in the 1st quarter worth approximately $43,000.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Berenberg Bank set a $570.00 price target on shares of Ferrari in a research note on Friday, October 3rd. Citigroup dropped their price target on Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. UBS Group raised their price objective on Ferrari from $529.00 to $554.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Sanford C. Bernstein lowered their price objective on Ferrari from $554.00 to $475.00 and set an “outperform” rating for the company in a research note on Friday, October 10th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Ferrari in a research note on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $504.71.

Ferrari Stock Performance

Shares of NYSE RACE opened at $421.98 on Wednesday. The firm’s 50-day moving average price is $443.51 and its 200-day moving average price is $465.86. Ferrari N.V. has a 52-week low of $372.31 and a 52-week high of $519.10. The company has a market cap of $102.28 billion, a PE ratio of 42.62, a PEG ratio of 4.52 and a beta of 1.07. The company has a quick ratio of 3.78, a current ratio of 4.90 and a debt-to-equity ratio of 0.76.

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

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.