Triasima Portfolio Management inc. Sells 10,933 Shares of Ferrari N.V. $RACE

Triasima Portfolio Management inc. lessened its holdings in shares of Ferrari N.V. (NYSE:RACE) by 60.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,290 shares of the company’s stock after selling 10,933 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Ferrari were worth $3,537,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of RACE. GAMMA Investing LLC grew its stake in Ferrari by 41.2% in the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock worth $35,000 after buying an additional 21 shares in the last quarter. Benjamin Edwards Inc. grew its position in Ferrari by 3.7% in the second quarter. Benjamin Edwards Inc. now owns 613 shares of the company’s stock worth $299,000 after acquiring an additional 22 shares in the last quarter. Allworth Financial LP increased its stake in Ferrari by 7.5% in the second quarter. Allworth Financial LP now owns 330 shares of the company’s stock valued at $162,000 after acquiring an additional 23 shares during the last quarter. Valeo Financial Advisors LLC raised its position in Ferrari by 2.2% during the second quarter. Valeo Financial Advisors LLC now owns 1,086 shares of the company’s stock valued at $532,000 after purchasing an additional 23 shares in the last quarter. Finally, Certuity LLC lifted its stake in Ferrari by 4.5% during the second quarter. Certuity LLC now owns 582 shares of the company’s stock worth $285,000 after purchasing an additional 25 shares during the last quarter.

Ferrari Price Performance

Shares of Ferrari stock opened at $340.00 on Tuesday. The company’s fifty day simple moving average is $379.39 and its two-hundred day simple moving average is $431.43. Ferrari N.V. has a 12-month low of $340.41 and a 12-month high of $519.10. The firm has a market cap of $82.41 billion, a PE ratio of 34.24, a price-to-earnings-growth ratio of 3.72 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 (NYSE:RACE) last posted its earnings results on Tuesday, November 4th. The company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.15. Ferrari had a net margin of 22.65% and a return on equity of 44.20%. The company 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, equities analysts expect that Ferrari N.V. will post 9.22 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on RACE. JPMorgan Chase & Co. reduced their price objective on Ferrari from $460.00 to $457.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 12th. HSBC reissued a “hold” rating on shares of Ferrari in a research note on Tuesday, January 13th. UBS Group lowered their price objective on shares of Ferrari from $563.00 to $555.00 and set a “buy” rating for the company in a report on Friday, January 9th. Loop Capital set a $481.67 target price on shares of Ferrari in a report on Thursday, December 4th. Finally, Evercore ISI lowered their price target on shares of Ferrari from $580.00 to $475.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ferrari has a consensus rating of “Moderate Buy” and a consensus target price of $480.67.

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.