Ferrari N.V. $RACE Shares Sold by Financial Advocates Investment Management

Financial Advocates Investment Management reduced its position in shares of Ferrari N.V. (NYSE:RACE) by 43.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,394 shares of the company’s stock after selling 1,073 shares during the period. Financial Advocates Investment Management’s holdings in Ferrari were worth $684,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Laurel Wealth Advisors LLC increased its holdings in shares of Ferrari by 81,700.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 4,908 shares of the company’s stock worth $2,409,000 after buying an additional 4,902 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its position in Ferrari by 0.6% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 12,305 shares of the company’s stock worth $5,997,000 after acquiring an additional 71 shares during the period. Aviso Financial Inc. grew its position in Ferrari by 2.8% in the second quarter. Aviso Financial Inc. now owns 2,915 shares of the company’s stock worth $1,431,000 after acquiring an additional 80 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Ferrari by 127.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,071 shares of the company’s stock worth $525,000 after acquiring an additional 600 shares during the last quarter. Finally, Insigneo Advisory Services LLC raised its position in Ferrari by 39.5% in the second quarter. Insigneo Advisory Services LLC now owns 1,313 shares of the company’s stock valued at $642,000 after purchasing an additional 372 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RACE. Deutsche Bank Aktiengesellschaft upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, September 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferrari in a research note on Monday, August 4th. Cfra Research cut shares of Ferrari from a “hold” rating to a “moderate sell” rating in a research report on Thursday, July 31st. Hsbc Global Res upgraded shares of Ferrari from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. Finally, Zacks Research cut shares of Ferrari from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 29th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $498.00.

Ferrari Stock Down 0.5%

Shares of NYSE:RACE opened at $383.10 on Thursday. The firm has a market capitalization of $92.85 billion, a PE ratio of 38.70, a price-to-earnings-growth ratio of 4.08 and a beta of 1.07. Ferrari N.V. has a 1 year low of $372.31 and a 1 year high of $519.10. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.90 and a quick ratio of 3.78. The firm’s 50-day moving average is $424.89 and its two-hundred day moving average is $460.32.

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