Prosperity Financial Group Inc. Increases Holdings in Ferrari N.V. $RACE

Prosperity Financial Group Inc. increased its stake in shares of Ferrari N.V. (NYSE:RACE) by 2.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,289 shares of the company’s stock after buying an additional 46 shares during the quarter. Prosperity Financial Group Inc.’s holdings in Ferrari were worth $1,123,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Ferrari by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company’s stock worth $2,165,683,000 after buying an additional 377,929 shares in the last quarter. Bank of Italy lifted its position in Ferrari by 2.9% during the first quarter. Bank of Italy now owns 2,407,271 shares of the company’s stock worth $1,021,078,000 after buying an additional 67,651 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Ferrari by 52.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company’s stock worth $974,332,000 after buying an additional 781,587 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Ferrari by 1.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,822,147 shares of the company’s stock worth $779,661,000 after acquiring an additional 25,883 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Ferrari by 8.1% in the first quarter. Alliancebernstein L.P. now owns 1,767,337 shares of the company’s stock valued at $756,208,000 after purchasing an additional 131,945 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RACE shares. Hsbc Global Res upgraded Ferrari from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Ferrari in a research report on Wednesday, October 8th. UBS Group reduced their target price on Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Sanford C. Bernstein reduced their target price on Ferrari from $554.00 to $475.00 and set an “outperform” rating on the stock in a research report on Friday, October 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $505.50.

Ferrari Trading Down 1.6%

RACE opened at $394.14 on Thursday. Ferrari N.V. has a 12 month low of $372.31 and a 12 month high of $519.10. The stock has a market capitalization of $95.53 billion, a price-to-earnings ratio of 40.67, a PEG ratio of 4.25 and a beta of 1.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. The business has a fifty day moving average price of $462.26 and a 200 day moving average price of $467.74.

Ferrari (NYSE:RACE) last released its earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the previous year, the firm posted $2.29 EPS. Ferrari’s revenue for the quarter was up 4.4% on a year-over-year basis. 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 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.