Ferrari N.V. $RACE Shares Sold by Marshall Wace LLP

Marshall Wace LLP reduced its holdings in Ferrari N.V. (NYSE:RACE) by 13.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 977,314 shares of the company’s stock after selling 151,284 shares during the quarter. Ferrari makes up 0.5% of Marshall Wace LLP’s portfolio, making the stock its 21st biggest holding. Marshall Wace LLP’s holdings in Ferrari were worth $477,726,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research analysts have commented on RACE shares. Evercore ISI cut their price objective on Ferrari from $580.00 to $475.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. Hsbc Global Res upgraded Ferrari from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. Sanford C. Bernstein dropped their target price on Ferrari from $554.00 to $475.00 and set an “outperform” rating on the stock in a report on Friday, October 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Ferrari in a report on Monday. Finally, Citigroup lowered their price objective on shares of Ferrari from $579.00 to $529.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $497.19.

Ferrari Trading Down 0.1%

Shares of RACE opened at $393.49 on Friday. Ferrari N.V. has a one year low of $372.31 and a one year high of $519.10. The stock has a 50-day moving average price of $413.92 and a 200 day moving average price of $456.20. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.78 and a current ratio of 4.90. The company has a market capitalization of $95.37 billion, a P/E ratio of 39.75, a P/E/G ratio of 4.17 and a beta of 1.01.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, November 4th. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.94 billion. Ferrari has set its FY 2025 guidance at 10.290- EPS. Sell-side analysts forecast that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

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.