Ferrari N.V. $RACE Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC cut its stake in Ferrari N.V. (NYSE:RACE) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,950 shares of the company’s stock after selling 100 shares during the period. Highland Capital Management LLC’s holdings in Ferrari were worth $2,429,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GW&K Investment Management LLC boosted its position in shares of Ferrari by 288.9% in 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 during the last quarter. GAMMA Investing LLC lifted its position in Ferrari by 41.2% during the second quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock valued at $35,000 after buying an additional 21 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in Ferrari during the first quarter valued at approximately $33,000. Brooklyn Investment Group lifted its position in Ferrari by 381.3% during the first quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock valued at $33,000 after buying an additional 61 shares in the last quarter. Finally, Centerpoint Advisors LLC acquired a new position in Ferrari during the first quarter valued at approximately $43,000.

Ferrari Stock Performance

RACE stock opened at $500.91 on Friday. The company has a market capitalization of $121.41 billion, a P/E ratio of 51.69, a PEG ratio of 4.04 and a beta of 1.08. The company has a 50-day simple moving average of $473.20 and a 200 day simple moving average of $469.36. Ferrari N.V. has a fifty-two week low of $391.54 and a fifty-two week high of $519.10. 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 (NYSE:RACE) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.13. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.05 billion. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. Sell-side analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RACE. Deutsche Bank Aktiengesellschaft raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, September 2nd. Citigroup reaffirmed a “sell” rating on shares of Ferrari in a research report on Monday, August 11th. Cfra Research cut shares of Ferrari from a “hold” rating to a “moderate sell” rating in a research report on Thursday, July 31st. 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 report on Thursday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ferrari in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $528.80.

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.