Sculati Wealth Management LLC Sells 170 Shares of Ferrari N.V. $RACE

Sculati Wealth Management LLC cut its holdings in Ferrari N.V. (NYSE:RACE) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,421 shares of the company’s stock after selling 170 shares during the quarter. Sculati Wealth Management LLC’s holdings in Ferrari were worth $2,660,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RACE. GW&K Investment Management LLC increased its holdings in shares of Ferrari by 288.9% in the first quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock valued at $30,000 after purchasing an additional 52 shares in the last quarter. Brooklyn Investment Group boosted its position in Ferrari by 381.3% in the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock valued at $33,000 after buying an additional 61 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Ferrari by 41.2% in the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock valued at $35,000 after buying an additional 21 shares during the period. Creekmur Asset Management LLC increased its stake in shares of Ferrari by 660.0% in the 2nd quarter. Creekmur Asset Management LLC now owns 76 shares of the company’s stock valued at $37,000 after buying an additional 66 shares during the period. Finally, Centerpoint Advisors LLC bought a new stake in shares of Ferrari during the first quarter worth $43,000.

Ferrari Stock Down 0.2%

Shares of NYSE:RACE opened at $417.16 on Friday. The company has a 50 day moving average price of $439.00 and a two-hundred day moving average price of $464.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.78 and a current ratio of 4.90. The company has a market capitalization of $101.11 billion, a PE ratio of 42.14, a PEG ratio of 4.59 and a beta of 1.07. Ferrari N.V. has a 52 week low of $372.31 and a 52 week high of $519.10.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.15. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.94 billion. Ferrari had a net margin of 22.65% and a return on equity of 44.20%. Ferrari has set its FY 2025 guidance at 10.290- EPS. Analysts forecast that Ferrari N.V. will post 9.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RACE shares. Evercore ISI decreased their price target on Ferrari from $580.00 to $475.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Zacks Research downgraded shares of Ferrari from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 29th. Deutsche Bank Aktiengesellschaft raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. dropped their target price on shares of Ferrari from $460.00 to $457.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, UBS Group increased their price target on Ferrari from $529.00 to $554.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $504.29.

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.