Sound Income Strategies LLC Acquires 89,594 Shares of Stellantis (NYSE:STLA)

Sound Income Strategies LLC increased its holdings in shares of Stellantis (NYSE:STLA) by 47.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 280,010 shares of the company’s stock after buying an additional 89,594 shares during the period. Sound Income Strategies LLC’s holdings in Stellantis were worth $3,934,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Capital International Investors raised its position in shares of Stellantis by 329.3% during the 1st quarter. Capital International Investors now owns 22,503,781 shares of the company’s stock valued at $639,609,000 after acquiring an additional 17,261,955 shares during the last quarter. Capital World Investors lifted its stake in Stellantis by 63.4% in the first quarter. Capital World Investors now owns 13,756,552 shares of the company’s stock valued at $390,811,000 after buying an additional 5,336,868 shares during the period. M&G Plc bought a new position in Stellantis during the first quarter worth about $128,254,000. Dnca Finance acquired a new position in shares of Stellantis during the 2nd quarter worth about $75,331,000. Finally, ANTIPODES PARTNERS Ltd increased its position in shares of Stellantis by 184,881.3% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 3,089,187 shares of the company’s stock valued at $87,424,000 after buying an additional 3,087,517 shares in the last quarter. 59.48% of the stock is currently owned by institutional investors and hedge funds.

Stellantis Price Performance

NYSE:STLA traded down $0.29 during mid-day trading on Friday, hitting $13.01. The stock had a trading volume of 14,645,679 shares, compared to its average volume of 6,861,761. Stellantis has a twelve month low of $12.74 and a twelve month high of $29.51. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. The company’s 50 day simple moving average is $15.31 and its 200 day simple moving average is $19.80.

Analysts Set New Price Targets

Several equities research analysts recently commented on STLA shares. Deutsche Bank Aktiengesellschaft cut shares of Stellantis from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wolfe Research restated a “peer perform” rating on shares of Stellantis in a research note on Thursday, September 5th. Nomura Securities upgraded shares of Stellantis from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada restated a “sector perform” rating on shares of Stellantis in a report on Friday, October 4th. Finally, Nomura upgraded shares of Stellantis from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $27.34.

Insider Buying and Selling at Stellantis

In related news, major shareholder N.V. Stellantis bought 2,982,089 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $3.35 per share, for a total transaction of $9,989,998.15. Following the purchase, the insider now owns 59,734,962 shares in the company, valued at $200,112,122.70. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.02% of the company’s stock.

About Stellantis

Stellantis N.V. engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, mobility services, and production systems worldwide. It provides luxury and premium vehicles; sport utility vehicles; American and European brand vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.