Ferrari N.V. $RACE Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New lessened its position in shares of Ferrari N.V. (NYSE:RACE) by 1.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,277 shares of the company’s stock after selling 38 shares during the period. Cigna Investments Inc. New’s holdings in Ferrari were worth $1,123,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bridgewater Advisors Inc. acquired a new position in Ferrari during the 1st quarter worth approximately $492,000. Thoroughbred Financial Services LLC lifted its position in shares of Ferrari by 39.7% during the 1st quarter. Thoroughbred Financial Services LLC now owns 10,286 shares of the company’s stock worth $4,401,000 after buying an additional 2,925 shares during the last quarter. Banco Santander S.A. lifted its position in shares of Ferrari by 35.3% during the 1st quarter. Banco Santander S.A. now owns 560,999 shares of the company’s stock worth $240,040,000 after buying an additional 146,279 shares during the last quarter. Callan Family Office LLC lifted its position in shares of Ferrari by 146.3% during the 1st quarter. Callan Family Office LLC now owns 2,763 shares of the company’s stock worth $1,182,000 after buying an additional 1,641 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its position in shares of Ferrari by 75.1% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 3,580 shares of the company’s stock worth $1,532,000 after buying an additional 1,535 shares during the last quarter.

Ferrari Stock Up 1.7%

RACE stock opened at $485.80 on Wednesday. The company has a fifty day moving average price of $476.94 and a 200 day moving average price of $467.18. Ferrari N.V. has a 12 month low of $391.54 and a 12 month high of $519.10. The company has a market cap of $117.75 billion, a price-to-earnings ratio of 50.13, a price-to-earnings-growth ratio of 5.44 and a beta of 1.10. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RACE. Zacks Research downgraded shares of Ferrari from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 29th. Berenberg Bank began coverage on shares of Ferrari in a research report on Tuesday, September 16th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, September 2nd. Cfra Research downgraded shares of Ferrari from a “hold” rating to a “moderate sell” rating in a research report on Thursday, July 31st. Finally, Citigroup reiterated a “sell” rating on shares of Ferrari in a research report on Monday, August 11th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Ferrari currently has a consensus rating of “Moderate Buy” and an average target price of $531.67.

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.