180 Wealth Advisors LLC Sells 67 Shares of Ferrari N.V. $RACE

180 Wealth Advisors LLC reduced its position in shares of Ferrari N.V. (NYSE:RACE) by 6.9% in the second quarter, HoldingsChannel reports. The firm owned 909 shares of the company’s stock after selling 67 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Ferrari were worth $446,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in RACE. GW&K Investment Management LLC grew its stake in shares of Ferrari by 288.9% during the 1st 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 during the period. Brooklyn Investment Group grew its stake in shares of Ferrari by 381.3% during the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock valued at $33,000 after purchasing an additional 61 shares during the period. GAMMA Investing LLC grew its stake in shares of Ferrari by 41.2% during the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock valued at $35,000 after purchasing an additional 21 shares during the period. Centerpoint Advisors LLC bought a new stake in shares of Ferrari during the 1st quarter valued at about $43,000. Finally, Gordian Capital Singapore Pte Ltd grew its stake in shares of Ferrari by 42.9% during the 1st quarter. Gordian Capital Singapore Pte Ltd now owns 100 shares of the company’s stock valued at $43,000 after purchasing an additional 30 shares during the period.

Ferrari Trading Up 1.4%

RACE stock opened at $408.59 on Friday. 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 0.89, a current ratio of 5.09 and a quick ratio of 3.94. The company has a market capitalization of $99.04 billion, a price-to-earnings ratio of 42.17, a PEG ratio of 4.33 and a beta of 1.08. The business has a 50 day simple moving average of $459.99 and a two-hundred day simple moving average of $468.33.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.13. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the company posted $2.29 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Ferrari has set its FY 2025 guidance at 9.751- EPS. Research analysts anticipate that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RACE shares. Zacks Research downgraded Ferrari from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 29th. Deutsche Bank Aktiengesellschaft upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, September 2nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferrari in a research note on Monday, August 4th. Cfra Research downgraded Ferrari from a “hold” rating to a “moderate sell” rating in a research note on Thursday, July 31st. Finally, Berenberg Bank set a $570.00 price objective on Ferrari in a research note on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Ferrari has an average rating of “Buy” and a consensus target price of $505.50.

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.