Norges Bank Makes New $885.05 Million Investment in Ferrari N.V. $RACE

Norges Bank bought a new stake in shares of Ferrari N.V. (NYSE:RACE) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,805,376 shares of the company’s stock, valued at approximately $885,051,000. Norges Bank owned approximately 0.74% of Ferrari as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new position in shares of Ferrari in the second quarter valued at $18,535,000. Scotia Capital Inc. raised its holdings in shares of Ferrari by 5.4% in the second quarter. Scotia Capital Inc. now owns 4,661 shares of the company’s stock worth $2,287,000 after buying an additional 238 shares during the period. Level Four Advisory Services LLC lifted its stake in shares of Ferrari by 7.7% during the 2nd quarter. Level Four Advisory Services LLC now owns 2,241 shares of the company’s stock worth $1,100,000 after acquiring an additional 161 shares during the last quarter. Capital Fund Management S.A. boosted its holdings in Ferrari by 57.4% during the 2nd quarter. Capital Fund Management S.A. now owns 34,426 shares of the company’s stock valued at $16,894,000 after acquiring an additional 12,552 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in Ferrari by 5.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 29,866 shares of the company’s stock valued at $14,656,000 after acquiring an additional 1,439 shares during the last quarter.

Ferrari Stock Up 1.9%

Shares of Ferrari stock opened at $390.11 on Friday. 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 stock has a market cap of $94.56 billion, a price-to-earnings ratio of 39.41, a PEG ratio of 4.05 and a beta of 1.07. The firm’s 50-day moving average is $421.07 and its two-hundred day moving average is $459.11. Ferrari N.V. has a 1 year low of $372.31 and a 1 year high of $519.10.

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

Wall Street Analyst Weigh In

RACE has been the subject of a number of recent analyst reports. Royal Bank Of Canada reissued an “outperform” rating on shares of Ferrari in a research note on Monday, August 4th. Hsbc Global Res upgraded shares of Ferrari from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. Sanford C. Bernstein dropped 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ferrari in a research report on Monday. Finally, Berenberg Bank set a $570.00 price target on shares of Ferrari in a research note on Friday, October 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $499.13.

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.