Insight Advisors LLC PA Makes New $209,000 Investment in Ferrari N.V. $RACE

Insight Advisors LLC PA bought a new position in shares of Ferrari N.V. (NYSE:RACE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 425 shares of the company’s stock, valued at approximately $209,000.

Other hedge funds have also recently bought and sold shares of the company. Sound View Wealth Advisors Group LLC increased its stake in shares of Ferrari by 1.0% during the first quarter. Sound View Wealth Advisors Group LLC now owns 2,198 shares of the company’s stock worth $940,000 after purchasing an additional 21 shares during the period. GAMMA Investing LLC raised its stake in Ferrari by 41.2% in the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock worth $35,000 after purchasing an additional 21 shares in the last quarter. Rehmann Capital Advisory Group grew its position in shares of Ferrari by 3.9% during the 1st quarter. Rehmann Capital Advisory Group now owns 697 shares of the company’s stock worth $299,000 after purchasing an additional 26 shares in the last quarter. Inspire Investing LLC boosted its stake in shares of Ferrari by 0.7% in the second quarter. Inspire Investing LLC now owns 4,332 shares of the company’s stock valued at $2,126,000 after buying an additional 28 shares during the period. Finally, Aviso Financial Inc. raised its holdings in Ferrari by 1.1% in the 1st quarter. Aviso Financial Inc. now owns 2,835 shares of the company’s stock valued at $1,213,000 after acquiring an additional 30 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Zacks Research downgraded shares of Ferrari from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 29th. HSBC raised Ferrari from a “hold” rating to a “buy” rating and set a $470.00 price target for the company in a report on Thursday, October 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ferrari in a report on Wednesday, October 8th. Sanford C. Bernstein decreased their target price on shares of Ferrari from $554.00 to $475.00 and set an “outperform” rating on the stock in a research note 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 analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $505.50.

Ferrari Price Performance

Shares of RACE opened at $402.96 on Friday. The business has a 50-day moving average of $461.02 and a 200-day moving average of $467.77. Ferrari N.V. has a 1 year low of $372.31 and a 1 year high of $519.10. The company has a market capitalization of $97.67 billion, a price-to-earnings ratio of 41.59, a price-to-earnings-growth ratio of 4.18 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.

Ferrari (NYSE:RACE) last issued its quarterly earnings results 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. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the company earned $2.29 EPS. The company’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. As a group, equities research analysts anticipate 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.