Ferrari N.V. $RACE Shares Purchased by Inspire Investing LLC

Inspire Investing LLC lifted its holdings in Ferrari N.V. (NYSE:RACE) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,332 shares of the company’s stock after acquiring an additional 28 shares during the quarter. Inspire Investing LLC’s holdings in Ferrari were worth $2,126,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its position in Ferrari by 52.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company’s stock valued at $974,332,000 after buying an additional 781,587 shares during the period. Groupe la Francaise acquired a new stake in Ferrari during the first quarter valued at $238,818,000. Nuveen LLC acquired a new stake in Ferrari during the first quarter valued at $233,200,000. Vanguard Group Inc. grew its position in Ferrari by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company’s stock valued at $2,165,683,000 after buying an additional 377,929 shares during the period. Finally, Citigroup Inc. grew its position in Ferrari by 155.1% during the first quarter. Citigroup Inc. now owns 269,862 shares of the company’s stock valued at $115,469,000 after buying an additional 164,092 shares during the period.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, September 2nd. Hsbc Global Res raised shares of Ferrari from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. 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 research note on Friday. Citigroup reissued a “sell” rating on shares of Ferrari in a research note on Monday, August 11th. Finally, Zacks Research downgraded shares of Ferrari from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 29th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $519.83.

Ferrari Trading Down 3.0%

Shares of RACE stock opened at $395.30 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.94 and a current ratio of 5.09. The stock has a market capitalization of $95.81 billion, a P/E ratio of 40.79, a price-to-earnings-growth ratio of 3.28 and a beta of 1.08. The company has a 50 day moving average price of $470.68 and a 200 day moving average price of $469.66. Ferrari N.V. has a fifty-two week low of $391.54 and a fifty-two week high of $519.10.

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