SOA Wealth Advisors LLC. Sells 77 Shares of Ferrari N.V. $RACE

SOA Wealth Advisors LLC. lowered its stake in Ferrari N.V. (NYSE:RACE) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,697 shares of the company’s stock after selling 77 shares during the quarter. SOA Wealth Advisors LLC.’s holdings in Ferrari were worth $4,759,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RACE. Goldman Sachs Group Inc. increased its position in Ferrari by 52.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company’s stock valued at $974,332,000 after purchasing an additional 781,587 shares during the period. Groupe la Francaise acquired a new stake in shares of Ferrari during the 1st quarter worth approximately $238,818,000. Nuveen LLC acquired a new stake in shares of Ferrari during the 1st quarter worth approximately $233,200,000. Vanguard Group Inc. grew its position in shares of Ferrari by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company’s stock worth $2,165,683,000 after buying an additional 377,929 shares during the period. Finally, Citigroup Inc. grew its position in shares of Ferrari by 155.1% during the 1st quarter. Citigroup Inc. now owns 269,862 shares of the company’s stock worth $115,469,000 after buying an additional 164,092 shares during the period.

Ferrari Stock Performance

NYSE RACE opened at $484.54 on Wednesday. The company has a fifty day simple moving average of $474.32 and a 200 day simple moving average of $468.39. Ferrari N.V. has a 12-month low of $391.54 and a 12-month high of $519.10. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89. The company has a market cap of $117.44 billion, a P/E ratio of 50.00, a PEG ratio of 3.88 and a beta of 1.10.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, beating 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 business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same period last year, the business earned $2.29 EPS. The business’s revenue was up 4.4% on a year-over-year basis. Ferrari has set its FY 2025 guidance at 9.751- EPS. Sell-side analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. UBS Group raised their price objective on shares of Ferrari from $540.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferrari in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, September 2nd. Berenberg Bank began coverage on shares of Ferrari in a research report on Tuesday, September 16th. They issued a “buy” rating for the company. Finally, Citigroup reissued a “sell” rating on shares of Ferrari in a research report on Monday, August 11th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $531.67.

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.