Voya Investment Management LLC Decreases Position in Ferrari N.V. $RACE

Voya Investment Management LLC reduced its position in Ferrari N.V. (NYSE:RACE) by 21.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 15,333 shares of the company’s stock after selling 4,134 shares during the period. Voya Investment Management LLC’s holdings in Ferrari were worth $7,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Groupama Asset Managment raised its stake in Ferrari by 24,598.5% in the 2nd quarter. Groupama Asset Managment now owns 16,073,800 shares of the company’s stock valued at $7,888,057,000 after acquiring an additional 16,008,720 shares during the period. Alliancebernstein L.P. increased its stake in shares of Ferrari by 5.6% in the second quarter. Alliancebernstein L.P. now owns 1,866,558 shares of the company’s stock worth $915,995,000 after purchasing an additional 99,221 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Ferrari by 9.1% during the 2nd quarter. Jennison Associates LLC now owns 1,841,200 shares of the company’s stock valued at $903,019,000 after buying an additional 153,297 shares in the last quarter. Norges Bank bought a new stake in Ferrari during the 2nd quarter valued at $885,051,000. Finally, Viking Global Investors LP lifted its position in shares of Ferrari by 432.7% during the second quarter. Viking Global Investors LP now owns 721,269 shares of the company’s stock worth $353,526,000 after acquiring an additional 585,872 shares in the last quarter.

Ferrari Stock Up 0.1%

Shares of NYSE RACE opened at $376.19 on Thursday. The stock has a market capitalization of $91.18 billion, a P/E ratio of 38.00, a PEG ratio of 4.13 and a beta of 1.01. Ferrari N.V. has a one year low of $356.93 and a one year high of $519.10. The firm’s 50 day simple moving average is $391.61 and its two-hundred day simple moving average is $445.28. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.90 and a quick ratio of 3.78.

Ferrari (NYSE:RACE) last announced its quarterly earnings data 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 firm 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, analysts expect that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Analysts Set New Price Targets

RACE has been the topic of a number of analyst reports. Evercore ISI decreased their price objective on Ferrari from $580.00 to $475.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. JPMorgan Chase & Co. decreased their price target on Ferrari from $460.00 to $457.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 12th. Oddo Bhf lowered shares of Ferrari to a “neutral” rating in a research report on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ferrari in a research note on Monday. Finally, Barclays set a $420.00 target price on shares of Ferrari and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Four investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Ferrari presently has an average rating of “Buy” and a consensus target price of $489.47.

Ferrari Company 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.