Norges Bank Buys Shares of 46,728,456 Stellantis (NYSE:STLA)

Norges Bank purchased a new stake in Stellantis (NYSE:STLA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 46,728,456 shares of the company’s stock, valued at approximately $609,076,000.

A number of other institutional investors also recently modified their holdings of STLA. Geneos Wealth Management Inc. acquired a new position in Stellantis during the 4th quarter worth approximately $26,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Stellantis by 67.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,711 shares of the company’s stock worth $48,000 after buying an additional 1,489 shares during the last quarter. Spire Wealth Management increased its holdings in shares of Stellantis by 29.7% during the fourth quarter. Spire Wealth Management now owns 5,291 shares of the company’s stock worth $69,000 after buying an additional 1,211 shares in the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of Stellantis by 160.0% in the 4th quarter. Central Pacific Bank Trust Division now owns 6,500 shares of the company’s stock valued at $85,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Life Planning Partners Inc acquired a new stake in shares of Stellantis during the 4th quarter valued at $85,000. Institutional investors and hedge funds own 59.48% of the company’s stock.

Stellantis Stock Down 4.0 %

Stellantis stock opened at $11.34 on Friday. The firm has a 50 day moving average price of $12.95 and a two-hundred day moving average price of $13.31. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.85 and a current ratio of 1.14. Stellantis has a 52-week low of $11.29 and a 52-week high of $28.49. The firm has a market cap of $34.27 billion, a price-to-earnings ratio of 3.32 and a beta of 1.64.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Piper Sandler cut Stellantis from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $23.00 to $13.00 in a report on Thursday, March 20th. Cowen started coverage on Stellantis in a research note on Thursday, March 6th. They issued a “hold” rating for the company. Finally, TD Cowen started coverage on shares of Stellantis in a research report on Friday, March 7th. They set a “hold” rating and a $13.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Stellantis currently has a consensus rating of “Hold” and an average price target of $19.27.

Stellantis Profile

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.