Nomura Asset Management Co. Ltd. Takes Position in Ferrari N.V. $RACE

Nomura Asset Management Co. Ltd. purchased a new stake in shares of Ferrari N.V. (NYSE:RACE) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,101 shares of the company’s stock, valued at approximately $1,522,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sound View Wealth Advisors Group LLC raised its stake in shares of 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 position 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 during the period. Allworth Financial LP lifted its stake in Ferrari by 7.5% in the second quarter. Allworth Financial LP now owns 330 shares of the company’s stock worth $162,000 after purchasing an additional 23 shares during the last quarter. Inspire Investing LLC boosted its position in shares of Ferrari by 0.7% during 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. grew its stake in shares of Ferrari by 1.1% during the first quarter. Aviso Financial Inc. now owns 2,835 shares of the company’s stock valued at $1,213,000 after buying an additional 30 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Sanford C. Bernstein decreased 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. Hsbc Global Res upgraded Ferrari from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 2nd. Evercore ISI lowered their target price on shares of Ferrari from $580.00 to $475.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Weiss Ratings downgraded shares of Ferrari from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, November 17th. Finally, Zacks Research lowered shares of Ferrari from a “strong-buy” rating to a “hold” rating in a report on Friday, August 29th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $504.29.

Ferrari Stock Performance

Shares of Ferrari stock opened at $388.85 on Friday. The company has a current ratio of 4.90, a quick ratio of 3.78 and a debt-to-equity ratio of 0.76. The stock’s fifty day moving average price is $430.48 and its 200-day moving average price is $462.41. The firm has a market cap of $94.25 billion, a P/E ratio of 39.28, a P/E/G ratio of 4.12 and a beta of 1.07. Ferrari N.V. has a 12 month low of $372.31 and a 12 month high of $519.10.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Tuesday, November 4th. The company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates 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. On average, equities research analysts expect that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Ferrari 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.