Axxcess Wealth Management LLC Trims Stake in Ferrari N.V. $RACE

Axxcess Wealth Management LLC reduced its stake in shares of Ferrari N.V. (NYSE:RACE) by 10.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 657 shares of the company’s stock after selling 76 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Ferrari were worth $322,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its position in shares of Ferrari by 52.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company’s stock valued at $974,332,000 after buying an additional 781,587 shares in the last quarter. Groupe la Francaise purchased a new stake in shares of Ferrari during the first quarter worth approximately $238,818,000. Nuveen LLC purchased a new stake in Ferrari in the 1st quarter valued at $233,200,000. Vanguard Group Inc. grew its holdings in Ferrari by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company’s stock valued at $2,165,683,000 after buying an additional 377,929 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in Ferrari by 155.1% in the 1st quarter. Citigroup Inc. now owns 269,862 shares of the company’s stock valued at $115,469,000 after buying an additional 164,092 shares in the last quarter.

Ferrari Price Performance

RACE stock opened at $399.26 on Friday. 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 firm has a market capitalization of $96.77 billion, a P/E ratio of 41.20, a P/E/G ratio of 4.23 and a beta of 1.08. The business’s 50-day moving average is $465.18 and its two-hundred day moving average is $468.58. Ferrari N.V. has a 1 year low of $372.31 and a 1 year high of $519.10.

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

Wall Street Analyst Weigh In

RACE has been the topic of several recent analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferrari in a research note on Monday, August 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Ferrari in a research note on Wednesday, October 8th. Berenberg Bank set a $570.00 target price on Ferrari in a research note on Friday, October 3rd. Citigroup decreased their target price on Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, HSBC raised Ferrari from a “hold” rating to a “buy” rating and set a $470.00 target price on the stock in a research note on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Ferrari currently has an average rating of “Buy” and an average price target of $514.00.

Ferrari Profile

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.