SVB Wealth LLC Reduces Holdings in Stellantis (NYSE:STLA)

SVB Wealth LLC reduced its holdings in shares of Stellantis (NYSE:STLA) by 40.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 8,082 shares of the company’s stock after selling 5,398 shares during the period. SVB Wealth LLC’s holdings in Stellantis were worth $229,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in STLA. EverSource Wealth Advisors LLC boosted its stake in shares of Stellantis by 4.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 10,863 shares of the company’s stock worth $253,000 after purchasing an additional 430 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Stellantis by 3.5% in the first quarter. Hexagon Capital Partners LLC now owns 13,677 shares of the company’s stock worth $387,000 after acquiring an additional 463 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Stellantis by 5.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,508 shares of the company’s stock worth $298,000 after acquiring an additional 562 shares during the last quarter. Janiczek Wealth Management LLC boosted its position in shares of Stellantis by 2.4% in the first quarter. Janiczek Wealth Management LLC now owns 28,441 shares of the company’s stock worth $805,000 after acquiring an additional 660 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Stellantis by 11.6% in the fourth quarter. CWM LLC now owns 6,439 shares of the company’s stock worth $150,000 after acquiring an additional 669 shares during the last quarter. 59.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STLA has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft cut shares of Stellantis from a “buy” rating to a “hold” rating in a research report on Monday. Barclays raised shares of Stellantis to a “strong-buy” rating in a research report on Monday, June 17th. Nomura raised shares of Stellantis from a “neutral” rating to a “buy” rating in a research report on Wednesday. Sanford C. Bernstein began coverage on shares of Stellantis in a research report on Friday, June 28th. They set a “market perform” rating and a $23.50 price target on the stock. Finally, Morgan Stanley lifted their price target on shares of Stellantis from $26.00 to $30.40 and gave the company an “overweight” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Stellantis currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.55.

Stellantis Stock Performance

STLA opened at $16.74 on Wednesday. The firm’s 50 day moving average is $20.55 and its 200-day moving average is $23.41. Stellantis has a 52-week low of $16.64 and a 52-week high of $29.51. The company has a current ratio of 1.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24.

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.