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Two major firms sold off Ferrari shares, but the carmaker's earnings beat expectations, rising 13% from last year.
Highland Capital Management and Oppenheimer Asset Management both reduced their holdings in Ferrari N.V. this quarter, selling shares and reducing their stakes by 7.3% and 7.1%, respectively.
Ferrari reported earnings of $2.42 per share, beating expectations by $0.06, and has a consensus "Moderate Buy" rating with a target price of $526.25.
The company's share price opened at $491.22, and its revenue increased by 13% compared to the same period last year.
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Dos grandes firmas vendieron las acciones de Ferrari, pero las ganancias del fabricante de automóviles superaron las expectativas, aumentando un 13% con respecto al año pasado.