GAM Holding AG Sells 22,337 Shares of Ferrari N.V. $RACE

GAM Holding AG cut its stake in Ferrari N.V. (NYSE:RACE) by 34.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 41,770 shares of the company’s stock after selling 22,337 shares during the period. Ferrari accounts for approximately 1.2% of GAM Holding AG’s investment portfolio, making the stock its 13th biggest holding. GAM Holding AG’s holdings in Ferrari were worth $20,201,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Groupama Asset Managment raised its holdings in Ferrari by 24,598.5% in the 2nd quarter. Groupama Asset Managment now owns 16,073,800 shares of the company’s stock valued at $7,888,057,000 after acquiring an additional 16,008,720 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Ferrari by 5.6% during the second quarter. Alliancebernstein L.P. now owns 1,866,558 shares of the company’s stock worth $915,995,000 after acquiring an additional 99,221 shares during the period. Jennison Associates LLC grew its position in shares of Ferrari by 9.1% in the second quarter. Jennison Associates LLC now owns 1,841,200 shares of the company’s stock valued at $903,019,000 after purchasing an additional 153,297 shares during the last quarter. Norges Bank bought a new position in shares of Ferrari during the second quarter worth approximately $885,051,000. Finally, Viking Global Investors LP lifted its holdings in Ferrari by 432.7% during the 2nd quarter. Viking Global Investors LP now owns 721,269 shares of the company’s stock worth $353,526,000 after purchasing an additional 585,872 shares during the last quarter.

Ferrari Price Performance

RACE stock opened at $372.22 on Friday. The company’s 50-day moving average price is $387.94 and its two-hundred day moving average price is $440.55. The firm has a market cap of $90.22 billion, a P/E ratio of 37.60, a P/E/G ratio of 3.93 and a beta of 1.01. The company has a quick ratio of 3.78, a current ratio of 4.90 and a debt-to-equity ratio of 0.76. Ferrari N.V. has a 12 month low of $356.93 and a 12 month high of $519.10.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.15. The business had revenue of $2.07 billion for 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, analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RACE shares. Loop Capital set a $481.67 price target on Ferrari in a research note on Thursday, December 4th. HSBC raised shares of Ferrari from a “hold” rating to a “buy” rating and set a $470.00 target price for the company in a research report on Thursday, October 2nd. UBS Group reaffirmed a “buy” rating and set a $563.00 price target on shares of Ferrari in a research report on Friday, November 28th. JPMorgan Chase & Co. cut their price objective on shares of Ferrari from $460.00 to $457.00 and set an “overweight” rating for the company in a report on Wednesday, November 12th. Finally, Berenberg Bank set a $570.00 target price on shares of Ferrari in a research report on Friday, October 3rd. Four analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $489.47.

About Ferrari

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.