Shares Dip as €3.5B Buyback Program Advances

TLDR

• Ferrari stock dips 0.33% as €3.5B buyback plan moves ahead.
• RACE shares slide late despite fresh Ferrari buyback activity.
• Ferrari adds EXM shares as its multi-year buyback program advances.
• Ferrari treasury holdings rise as RACE stock ends slightly lower.
• RACE stock weakens while Ferrari continues its capital return push.

Ferrari N.V. (RACE) shares ended lower after an uneven session, as the company advanced its large buyback plan. RACE traded at $348.24, down 0.33%, after a late drop near $347.02. The move came as Ferrari reported fresh purchases under its €250 million second tranche.

Ferrari N.V., RACE

Ferrari Adds Shares Under Second Tranche

Ferrari purchased 20,321 common shares on Euronext Milan across two trading days in May. The company bought 12,982 shares on May 18 at an average price of €274.5472. It also bought 7,339 shares on May 20 at an average price of €285.1737.

The latest purchases carried total consideration of €5.66 million, excluding fees. Ferrari made the transactions under the €250 million buyback program announced on April 10, 2026. That tranche forms part of a wider multi-year program worth about €3.5 billion.

Ferrari expects to execute the broader buyback plan by 2030. The program follows commitments outlined during the company’s 2025 Capital Markets Day. Moreover, the latest update adds detail to Ferrari’s continuing capital return strategy.

RACE Stock Slips Despite Buyback Progress

RACE stock traded at $348.24, down 0.33%, after a mixed session. The shares moved unevenly during the day, and selling pressure increased near the close. The late slide pushed the stock toward $347.02 before the session ended.

The stock move contrasted with Ferrari’s continued share repurchases. Buybacks can reduce outstanding shares, and they can support earnings per share over time.  Daily market action often reflects broader trading flows and short-term sentiment.

Ferrari held 17,752,329 common shares in treasury as of May 22, 2026. That total represented 9.15% of the company’s issued common shares. Including special voting shares, treasury holdings equaled 9.50% of issued share capital.

Ferrari Buyback Spending Reaches €357.49 Million

Since the second tranche announcement, Ferrari has invested €86.92 million on EXM purchases. The company bought 297,808 common shares on that exchange through May 22. It also spent $11.50 million on 34,850 shares through NYSE purchases.

Since January 5, 2026, Ferrari has bought 1,218,103 own common shares. The total includes transactions linked to Sell to Cover activity. Across EXM and NYSE, total consideration reached €357.49 million through May 22.

Ferrari said the approved cancellation of treasury shares has not yet taken effect. Therefore, the company excluded that action from current ownership calculations. Consequently, the latest figures still reflect treasury stock before the approved cancellation process.