Freedom Investment Management Inc. Lowers Holdings in Ferrari N.V. $RACE

Freedom Investment Management Inc. trimmed its position in Ferrari N.V. (NYSE:RACE) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,908 shares of the company’s stock after selling 68 shares during the period. Freedom Investment Management Inc.’s holdings in Ferrari were worth $936,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Citigroup cut their price target on Ferrari from $579.00 to $529.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. Deutsche Bank Aktiengesellschaft raised Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, September 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ferrari in a research note on Wednesday, October 8th. Hsbc Global Res raised Ferrari from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. Finally, Sanford C. Bernstein cut their price target on Ferrari from $554.00 to $475.00 and set an “outperform” rating for the company in a research note on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Ferrari presently has an average rating of “Buy” and a consensus price target of $505.50.

Ferrari Trading Up 1.4%

Shares of RACE stock opened at $408.59 on Friday. The firm has a 50-day moving average price of $459.99 and a 200 day moving average price of $467.84. Ferrari N.V. has a twelve month low of $372.31 and a twelve month high of $519.10. The company has a market capitalization of $99.03 billion, a price-to-earnings ratio of 42.17, a PEG ratio of 4.27 and a beta of 1.08. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89.

Ferrari (NYSE:RACE) last announced its 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 net margin of 22.95% and a return on equity of 45.41%. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the company posted $2.29 EPS. The firm’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. Research analysts forecast 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.