SummitTX Capital L.P. decreased its position in shares of Ferrari N.V. (NYSE:RACE – Free Report) by 42.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,450 shares of the company’s stock after selling 3,235 shares during the quarter. SummitTX Capital L.P.’s holdings in Ferrari were worth $1,506,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Fideuram Asset Management Ireland dac purchased a new stake in Ferrari in the 4th quarter worth $29,000. Entrust Financial LLC purchased a new position in shares of Ferrari in the fourth quarter valued at about $33,000. Bellevue Asset Management LLC purchased a new position in shares of Ferrari in the first quarter valued at about $34,000. Bamco Inc. NY boosted its stake in shares of Ferrari by 790.9% in the fourth quarter. Bamco Inc. NY now owns 98 shares of the company’s stock worth $36,000 after acquiring an additional 87 shares during the period. Finally, CoreCap Advisors LLC boosted its stake in shares of Ferrari by 70.0% in the fourth quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock worth $38,000 after acquiring an additional 42 shares during the period.
Ferrari Trading Down 1.2%
Shares of RACE stock opened at $385.56 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.20 and a quick ratio of 4.08. The stock’s 50 day simple moving average is $363.21 and its two-hundred day simple moving average is $352.58. The company has a market cap of $90.20 billion, a PE ratio of 37.00, a price-to-earnings-growth ratio of 3.35 and a beta of 0.92. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $505.54.
More Ferrari News
- Positive Sentiment: Strong early demand for the Luce EV: Ferrari has reportedly reached its full-year 2026 sales target for the Luce, its first all-electric model, only two months after launch. Strong demand from China is reportedly a key driver. The update supports Ferrari’s ability to sell high-priced EVs despite criticism of the model’s unconventional design and reduces concerns about the company’s transition to electric vehicles. Reuters article Financial Times article
- Positive Sentiment: Positive commentary on Ferrari’s first EV: A TechCrunch report characterized the Luce’s early performance as solid, reinforcing the view that demand has so far outweighed negative public reaction. Continued order momentum, particularly in China, could improve investor confidence in Ferrari’s EV investments. TechCrunch article
- Neutral Sentiment: Performance-car visibility: A drag race featuring a Ferrari F8 against a Tesla Model X Plaid highlights Ferrari’s performance credentials but is primarily entertainment content and has limited direct implications for earnings. Tesla and Ferrari drag race
- Negative Sentiment: Formula 1 disappointment: Reports describing Ferrari’s missed opportunity at the Hungarian Grand Prix could weigh modestly on brand sentiment, although the race result does not materially change the company’s near-term financial outlook. Ferrari F1 Hungary report
Analyst Ratings Changes
RACE has been the topic of several recent analyst reports. UBS Group lifted their target price on Ferrari from $483.00 to $497.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a research note on Wednesday, July 8th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Ferrari in a report on Tuesday, June 2nd. Morgan Stanley upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $388.00 to $438.00 in a research report on Monday, June 15th. Finally, Wolfe Research assumed coverage on shares of Ferrari in a report on Tuesday, July 7th. They issued an “outperform” rating on the stock. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $471.97.
View Our Latest Research Report on Ferrari
Ferrari Profile
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.
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