Arrowstreet Capital Limited Partnership Lowers Stake in Stellantis (NYSE:STLA)

Arrowstreet Capital Limited Partnership lessened its holdings in Stellantis (NYSE:STLA) by 27.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,589,443 shares of the company’s stock after selling 1,348,434 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Stellantis were worth $46,834,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in STLA. Cerity Partners LLC raised its position in shares of Stellantis by 59.7% in the 3rd quarter. Cerity Partners LLC now owns 79,737 shares of the company’s stock worth $1,120,000 after purchasing an additional 29,797 shares during the last quarter. FMR LLC increased its stake in Stellantis by 4.9% during the 3rd quarter. FMR LLC now owns 3,137,594 shares of the company’s stock valued at $44,083,000 after purchasing an additional 145,583 shares in the last quarter. Verition Fund Management LLC raised its holdings in Stellantis by 436.3% in the third quarter. Verition Fund Management LLC now owns 281,765 shares of the company’s stock worth $3,959,000 after buying an additional 229,229 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Stellantis by 23.2% in the third quarter. Janus Henderson Group PLC now owns 2,822,960 shares of the company’s stock worth $39,125,000 after buying an additional 531,340 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its holdings in shares of Stellantis by 28.0% during the third quarter. Integrated Wealth Concepts LLC now owns 282,092 shares of the company’s stock valued at $3,963,000 after buying an additional 61,738 shares during the last quarter. Institutional investors own 59.48% of the company’s stock.

Stellantis Stock Down 1.1 %

Stellantis stock opened at $11.09 on Wednesday. The stock has a market cap of $33.53 billion, a PE ratio of 3.25 and a beta of 1.64. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.85 and a current ratio of 1.14. The stock has a fifty day moving average of $12.88 and a 200 day moving average of $13.23. Stellantis has a one year low of $10.95 and a one year high of $27.72.

Analysts Set New Price Targets

A number of brokerages recently weighed in on STLA. Piper Sandler lowered shares of Stellantis from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $13.00 in a report on Thursday, March 20th. TD Cowen began coverage on Stellantis in a research note on Friday, March 7th. They issued a “hold” rating and a $13.00 price target for the company. Finally, Cowen began coverage on Stellantis in a research report on Thursday, March 6th. They set a “hold” rating on the stock. Nine research 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.27.

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.