Ethic Inc. Sells 2,096 Shares of Ferrari N.V. $RACE

Ethic Inc. lessened its holdings in Ferrari N.V. (NYSE:RACE) by 65.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,101 shares of the company’s stock after selling 2,096 shares during the quarter. Ethic Inc.’s holdings in Ferrari were worth $474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Bridgewater Advisors Inc. bought a new position in Ferrari in the 1st quarter valued at $492,000. Zurich Insurance Group Ltd FI grew its stake in Ferrari by 13.2% in the 4th quarter. Zurich Insurance Group Ltd FI now owns 79,796 shares of the company’s stock valued at $34,042,000 after purchasing an additional 9,274 shares during the period. Thoroughbred Financial Services LLC grew its stake in Ferrari by 39.7% in the 1st quarter. Thoroughbred Financial Services LLC now owns 10,286 shares of the company’s stock valued at $4,401,000 after purchasing an additional 2,925 shares during the period. Banco Santander S.A. grew its stake in Ferrari by 35.3% in the 1st quarter. Banco Santander S.A. now owns 560,999 shares of the company’s stock valued at $240,040,000 after purchasing an additional 146,279 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Ferrari by 2.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 85,614 shares of the company’s stock valued at $36,271,000 after purchasing an additional 2,144 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RACE. UBS Group upped their price objective on Ferrari from $520.00 to $560.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Cfra Research downgraded Ferrari from a “hold” rating to a “moderate sell” rating in a research note on Thursday, July 31st. Wall Street Zen downgraded Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferrari in a research note on Monday, August 4th. Finally, Citigroup reiterated a “sell” rating on shares of Ferrari in a research note on Monday, August 11th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $526.25.

Ferrari Stock Performance

Shares of RACE opened at $466.3290 on Friday. The stock’s 50-day simple moving average is $476.81 and its 200 day simple moving average is $466.85. The stock has a market capitalization of $113.03 billion, a price-to-earnings ratio of 48.12, a price-to-earnings-growth ratio of 5.06 and a beta of 1.09. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.94 and a current ratio of 5.09. Ferrari N.V. has a 52-week low of $391.54 and a 52-week high of $519.10.

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

About Ferrari

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.