Bank of New York Mellon Corp Decreases Position in Ferrari N.V. $RACE

Bank of New York Mellon Corp lessened its stake in Ferrari N.V. (NYSE:RACE) by 3.0% during the fourth quarter, HoldingsChannel reports. The firm owned 2,590,025 shares of the company’s stock after selling 80,737 shares during the period. Bank of New York Mellon Corp’s holdings in Ferrari were worth $957,170,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of RACE. BNP Paribas purchased a new stake in Ferrari during the fourth quarter valued at about $228,000. Consolidated Capital Management LLC purchased a new position in Ferrari in the 4th quarter valued at approximately $231,000. Essex Financial Services Inc. raised its holdings in Ferrari by 81.1% during the 4th quarter. Essex Financial Services Inc. now owns 862 shares of the company’s stock valued at $319,000 after acquiring an additional 386 shares during the period. AdvisorShares Investments LLC raised its holdings in Ferrari by 10.7% during the 4th quarter. AdvisorShares Investments LLC now owns 857 shares of the company’s stock valued at $317,000 after acquiring an additional 83 shares during the period. Finally, Forsta AP Fonden lifted its position in shares of Ferrari by 4.7% during the fourth quarter. Forsta AP Fonden now owns 28,588 shares of the company’s stock worth $10,565,000 after acquiring an additional 1,272 shares in the last quarter.

Ferrari Trading Down 2.6%

Shares of RACE stock opened at $344.73 on Thursday. Ferrari N.V. has a 52-week low of $312.51 and a 52-week high of $519.10. The business’s fifty day moving average is $341.92 and its 200 day moving average is $355.98. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20. The company has a market capitalization of $80.65 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 3.36 and a beta of 0.93.

Trending Headlines about Ferrari

Here are the key news stories impacting Ferrari this week:

• Positive Sentiment: Ferrari announced a multi-year renewal of its agreement with Scuderia Ferrari HP and Charles Leclerc, reinforcing stability for one of the brand’s highest-profile drivers and supporting the company’s Formula 1 marketing value. Article Title
• Positive Sentiment: Ferrari updated investors on progress in its €3.5 billion multi-year buyback program, with purchases continuing under the current €250 million tranche. Ongoing repurchases can support earnings per share and signal management confidence. Article Title
• Positive Sentiment: Ferrari-backed lending platform news highlights the brand’s strength and monetization potential beyond car sales, underscoring the value of Ferrari’s luxury ecosystem. Article Title
• Neutral Sentiment: Automakers urged the EPA to delay vehicle-pollution rules and rewrite them quickly; this could be helpful for the industry broadly, but the impact on Ferrari is limited because the company is not a mass-market automaker. Article Title
• Negative Sentiment: Some commentary says Ferrari’s first full-electric vehicle introduces risk, including design backlash and uncertainty about demand, which may be weighing on investor sentiment. Article Title

Wall Street Analyst Weigh In

RACE has been the subject of a number of analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Ferrari in a report on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. Jefferies Financial Group raised Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Royal Bank Of Canada restated an “outperform” rating on shares of Ferrari in a research note on Wednesday, February 11th. Finally, JPMorgan Chase & Co. lifted their target price on Ferrari from $407.00 to $447.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $469.06.

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.