Banco Santander S.A. Buys 20,380 Shares of Ferrari N.V. $RACE

Banco Santander S.A. lifted its stake in shares of Ferrari N.V. (NYSE:RACE) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 581,379 shares of the company’s stock after acquiring an additional 20,380 shares during the quarter. Ferrari comprises about 2.7% of Banco Santander S.A.’s investment portfolio, making the stock its 5th biggest holding. Banco Santander S.A. owned 0.24% of Ferrari worth $285,306,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in RACE. Wealth Enhancement Advisory Services LLC increased its stake in shares of Ferrari by 21.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,074 shares of the company’s stock valued at $1,743,000 after acquiring an additional 707 shares during the period. Perissos Private Wealth Management LLC acquired a new position in shares of Ferrari during the first quarter valued at approximately $742,000. Summit Trail Advisors LLC acquired a new position in shares of Ferrari during the first quarter valued at approximately $215,000. Novem Group increased its stake in shares of Ferrari by 33.5% during the first quarter. Novem Group now owns 2,580 shares of the company’s stock valued at $1,104,000 after acquiring an additional 647 shares during the period. Finally, Mutual Advisors LLC increased its stake in shares of Ferrari by 58.9% during the first quarter. Mutual Advisors LLC now owns 1,020 shares of the company’s stock valued at $470,000 after acquiring an additional 378 shares during the period.

Ferrari Trading Up 1.4%

NYSE RACE opened at $408.59 on Monday. Ferrari N.V. has a twelve month low of $372.31 and a twelve month 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 stock has a market cap 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 firm’s 50 day moving average price is $459.99 and its two-hundred day moving average price is $468.58.

Ferrari (NYSE:RACE) last posted its quarterly earnings data 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 net margin of 22.95% and a return on equity of 45.41%. The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the previous year, the company posted $2.29 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Ferrari has set its FY 2025 guidance at 9.751- EPS. Equities analysts anticipate that Ferrari N.V. will post 9.22 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on RACE shares. HSBC upgraded shares of Ferrari from a “hold” rating to a “buy” rating and set a $470.00 price objective on the stock in a research note on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, September 2nd. Hsbc Global Res upgraded shares of Ferrari from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 2nd. Berenberg Bank set a $570.00 price target on shares of Ferrari in a research report on Friday, October 3rd. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Ferrari in a research report on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $505.50.

Ferrari Company 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.