Ferrari N.V. $RACE Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC trimmed its position in Ferrari N.V. (NYSE:RACE) by 3.2% in the second quarter, Holdings Channel reports. The firm owned 1,039 shares of the company’s stock after selling 34 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Ferrari were worth $510,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of RACE. Goldman Sachs Group Inc. grew its position in shares of Ferrari by 52.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company’s stock worth $974,332,000 after acquiring an additional 781,587 shares in the last quarter. Groupe la Francaise bought a new position in Ferrari during the first quarter worth $238,818,000. Nuveen LLC bought a new position in Ferrari during the first quarter worth $233,200,000. Vanguard Group Inc. boosted its holdings in Ferrari by 8.1% in the first quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company’s stock worth $2,165,683,000 after purchasing an additional 377,929 shares during the period. Finally, Citigroup Inc. increased its stake in Ferrari by 155.1% during the first quarter. Citigroup Inc. now owns 269,862 shares of the company’s stock valued at $115,469,000 after purchasing an additional 164,092 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have recently issued reports on RACE. UBS Group raised their price target on shares of Ferrari from $570.00 to $579.00 and gave the stock a “buy” rating in a research report on Friday. Hsbc Global Res raised shares of Ferrari from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. Zacks Research lowered Ferrari from a “strong-buy” rating to a “hold” rating in a report on Friday, August 29th. Deutsche Bank Aktiengesellschaft upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, September 2nd. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Ferrari in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ferrari has an average rating of “Moderate Buy” and an average price target of $528.80.

Ferrari Stock Performance

RACE opened at $490.64 on Tuesday. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $472.86 and its 200-day moving average is $469.92. The stock has a market cap of $118.92 billion, a PE ratio of 50.63, a price-to-earnings-growth ratio of 4.04 and a beta of 1.08. Ferrari N.V. has a twelve month low of $391.54 and a twelve month high of $519.10.

Ferrari (NYSE:RACE) last posted its earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.57 by $0.13. The firm 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 revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned $2.29 EPS. Ferrari has set its FY 2025 guidance at 9.751- EPS. On average, analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current 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.