Shariaportfolio Inc. Has $1.68 Million Stake in Ferrari N.V. $RACE

Shariaportfolio Inc. increased its stake in Ferrari N.V. (NYSE:RACE) by 48.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,431 shares of the company’s stock after acquiring an additional 1,115 shares during the quarter. Ferrari accounts for approximately 0.7% of Shariaportfolio Inc.’s portfolio, making the stock its 18th largest position. Shariaportfolio Inc.’s holdings in Ferrari were worth $1,684,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Independent Solutions Wealth Management LLC increased its stake in shares of Ferrari by 3.8% in the 2nd quarter. Independent Solutions Wealth Management LLC now owns 3,871 shares of the company’s stock valued at $1,900,000 after acquiring an additional 141 shares in the last quarter. Roundview Capital LLC increased its stake in shares of Ferrari by 40.7% in the 2nd quarter. Roundview Capital LLC now owns 7,706 shares of the company’s stock valued at $3,782,000 after acquiring an additional 2,230 shares in the last quarter. Wormser Freres Gestion increased its stake in Ferrari by 1.2% during the 2nd quarter. Wormser Freres Gestion now owns 2,604 shares of the company’s stock valued at $1,270,000 after purchasing an additional 32 shares in the last quarter. D.B. Root & Company LLC bought a new stake in Ferrari during the 2nd quarter valued at $359,000. Finally, Chung Wu Investment Group LLC bought a new stake in Ferrari during the 2nd quarter valued at $59,000.

Analyst Ratings Changes

A number of analysts have commented on the stock. Citigroup restated a “sell” rating on shares of Ferrari in a research note on Monday, August 11th. Zacks Research lowered shares of Ferrari from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 29th. HSBC upgraded shares of Ferrari from a “hold” rating to a “buy” rating and set a $470.00 price target for the company in a research note on Thursday, October 2nd. Cfra Research lowered shares of Ferrari from a “hold” rating to a “moderate sell” rating in a research note on Thursday, July 31st. Finally, UBS Group upped their target price on shares of Ferrari from $570.00 to $579.00 and gave the stock a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $528.80.

Ferrari Price Performance

NYSE RACE opened at $490.84 on Wednesday. The firm’s 50-day simple moving average is $472.56 and its two-hundred day simple moving average is $470.06. Ferrari N.V. has a 52 week low of $391.54 and a 52 week high of $519.10. The company has a market cap of $118.97 billion, a PE ratio of 50.65, a price-to-earnings-growth ratio of 3.96 and a beta of 1.08. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89.

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