Legal & General Group Plc Boosts Holdings in Ferrari N.V. $RACE

Legal & General Group Plc grew its holdings in shares of Ferrari N.V. (NYSE:RACE) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 911,503 shares of the company’s stock after purchasing an additional 28,618 shares during the quarter. Legal & General Group Plc’s holdings in Ferrari were worth $341,040,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. boosted its position in Ferrari by 100.0% during the third quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock worth $27,000 after purchasing an additional 28 shares during the period. Root Financial Partners LLC bought a new position in Ferrari during the third quarter worth about $28,000. Community Bank N.A. bought a new position in Ferrari during the third quarter worth about $33,000. Entrust Financial LLC bought a new position in Ferrari during the fourth quarter worth about $33,000. Finally, CoreCap Advisors LLC boosted its position in Ferrari by 70.0% during the fourth quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock worth $38,000 after purchasing an additional 42 shares during the period.

Key Ferrari News

Here are the key news stories impacting Ferrari this week:

• Negative Sentiment: Ferrari’s first fully electric model, the Luce, drew heavy backlash over its looks and branding, with critics comparing it unfavorably to mass-market EVs and questioning whether the design undermines the company’s luxury image.
• Negative Sentiment: Investors appear worried that Ferrari’s move into EVs could dilute exclusivity or signal weaker demand for a luxury electric supercar, especially as rivals are pulling back from EV plans. Article Title
• Neutral Sentiment: Ferrari also said the Luce is a major technology milestone, with strong performance specs and a launch that broadens its product strategy, but this positive long-term framing has not offset the near-term selloff. Article Title
• Neutral Sentiment: Ferrari separately reported progress on its ongoing share buyback program, which is supportive for shareholders, but it was overshadowed by the EV launch reaction. Article Title

Ferrari Price Performance

RACE stock opened at $330.67 on Wednesday. The firm has a 50 day moving average of $339.90 and a 200-day moving average of $358.95. The company has a current ratio of 5.20, a quick ratio of 4.08 and a debt-to-equity ratio of 0.72. Ferrari N.V. has a 12 month low of $312.51 and a 12 month high of $519.10. The firm has a market capitalization of $77.36 billion, a P/E ratio of 31.73, a price-to-earnings-growth ratio of 3.31 and a beta of 0.95.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Zacks Research upgraded shares of Ferrari from a “strong sell” rating to a “hold” rating in a research report on Monday, February 2nd. Citigroup upgraded shares of Ferrari from a “sell” rating to a “neutral” rating in a research report on Thursday, February 12th. Royal Bank Of Canada restated an “outperform” rating on shares of Ferrari in a research report on Wednesday, February 11th. UBS Group cut their price objective on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $410.00 price objective on shares of Ferrari in a research report on Wednesday, February 11th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $469.06.

About Ferrari

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.