Checchi Capital Advisers LLC Lowers Stock Position in Ferrari N.V. $RACE

Checchi Capital Advisers LLC trimmed its position in shares of Ferrari N.V. (NYSE:RACE) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,039 shares of the company’s stock after selling 34 shares during the period. Checchi Capital Advisers LLC’s holdings in Ferrari were worth $510,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RACE. Bridgewater Advisors Inc. acquired a new stake in Ferrari during the first quarter worth about $492,000. Thoroughbred Financial Services LLC lifted its stake in shares of Ferrari by 39.7% in the 1st quarter. Thoroughbred Financial Services LLC now owns 10,286 shares of the company’s stock valued at $4,401,000 after purchasing an additional 2,925 shares in the last quarter. Banco Santander S.A. grew its holdings in shares of Ferrari by 35.3% during the 1st quarter. Banco Santander S.A. now owns 560,999 shares of the company’s stock worth $240,040,000 after purchasing an additional 146,279 shares during the period. Dynamic Technology Lab Private Ltd increased its position in Ferrari by 75.1% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 3,580 shares of the company’s stock worth $1,532,000 after purchasing an additional 1,535 shares in the last quarter. Finally, Callan Family Office LLC raised its holdings in Ferrari by 146.3% in the first quarter. Callan Family Office LLC now owns 2,763 shares of the company’s stock valued at $1,182,000 after buying an additional 1,641 shares during the period.

Analysts Set New Price Targets

RACE has been the subject of several recent research reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferrari in a report on Monday, August 4th. Citigroup reaffirmed a “sell” rating on shares of Ferrari in a research report on Monday, August 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Ferrari in a research note on Saturday, September 27th. Deutsche Bank Aktiengesellschaft raised Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, September 2nd. Finally, Hsbc Global Res upgraded Ferrari from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Ferrari currently has an average rating of “Moderate Buy” and a consensus target price of $528.80.

Ferrari Trading Down 2.1%

NYSE:RACE opened at $490.64 on Tuesday. The stock has a market cap of $118.92 billion, a price-to-earnings ratio of 50.63, a price-to-earnings-growth ratio of 4.04 and a beta of 1.08. Ferrari N.V. has a one year low of $391.54 and a one year high of $519.10. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.94 and a current ratio of 5.09. The business’s 50-day simple moving average is $472.86 and its 200 day simple moving average is $469.92.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share (EPS) 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 company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the business earned $2.29 EPS. Ferrari’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. As a group, sell-side analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current fiscal 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.