Ferrari N.V. $RACE Shares Sold by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC lowered its stake in Ferrari N.V. (NYSE:RACE) by 44.9% during the third quarter, Holdings Channel.com reports. The fund owned 4,938 shares of the company’s stock after selling 4,016 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Ferrari were worth $2,396,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Callan Family Office LLC increased its stake in shares of Ferrari by 58.5% during the second quarter. Callan Family Office LLC now owns 4,378 shares of the company’s stock worth $2,148,000 after purchasing an additional 1,615 shares in the last quarter. TD Asset Management Inc increased its stake in Ferrari by 1.1% during the 2nd quarter. TD Asset Management Inc now owns 415,850 shares of the company’s stock worth $203,677,000 after buying an additional 4,434 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Ferrari by 26.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,599 shares of the company’s stock worth $5,205,000 after buying an additional 2,220 shares in the last quarter. Rheos Capital Works Inc. raised its holdings in shares of Ferrari by 14.1% during the second quarter. Rheos Capital Works Inc. now owns 161,700 shares of the company’s stock valued at $79,353,000 after acquiring an additional 20,000 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ferrari in the second quarter valued at approximately $640,000.

Ferrari Stock Up 0.7%

RACE stock opened at $372.22 on Friday. Ferrari N.V. has a one year low of $356.93 and a one year high of $519.10. The firm has a market cap of $90.22 billion, a PE ratio of 37.60, a PEG ratio of 3.93 and a beta of 1.01. The firm’s 50 day moving average price is $387.94 and its 200-day moving average price is $440.55. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.78 and a current ratio of 4.90.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, November 4th. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.94 billion. Ferrari has set its FY 2025 guidance at 10.290- EPS. On average, equities research analysts anticipate that Ferrari N.V. will post 9.22 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on RACE shares. Barclays set a $420.00 price target on Ferrari and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. Zacks Research downgraded shares of Ferrari from a “hold” rating to a “strong sell” rating in a research note on Thursday. The Goldman Sachs Group upgraded shares of Ferrari to a “strong-buy” rating in a report on Monday, November 24th. Citigroup lowered their target price on Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ferrari in a report on Monday. Four equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $489.47.

Ferrari Company Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.