nVerses Capital LLC Buys 17,000 Shares of Stellantis (NYSE:STLA)

nVerses Capital LLC raised its stake in shares of Stellantis (NYSE:STLA) by 41.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 57,900 shares of the company’s stock after purchasing an additional 17,000 shares during the quarter. nVerses Capital LLC’s holdings in Stellantis were worth $813,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of STLA. Capital International Investors lifted its stake in 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 period. Capital World Investors raised its stake in Stellantis by 63.4% during the 1st quarter. Capital World Investors now owns 13,756,552 shares of the company’s stock worth $390,811,000 after acquiring an additional 5,336,868 shares during the period. M&G Plc bought a new stake in Stellantis during the 1st quarter worth approximately $128,254,000. Dnca Finance bought a new stake in Stellantis during the 2nd quarter worth approximately $75,331,000. Finally, ANTIPODES PARTNERS Ltd raised its stake in Stellantis by 184,881.3% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 3,089,187 shares of the company’s stock worth $87,424,000 after acquiring an additional 3,087,517 shares during the period. Institutional investors own 59.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Stellantis from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Sanford C. Bernstein initiated coverage on Stellantis in a research note on Friday, June 28th. They set a “market perform” rating and a $23.50 target price on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $16.44 target price (down previously from $27.30) on shares of Stellantis in a research note on Wednesday, August 7th. Barclays cut Stellantis from an “overweight” rating to an “equal weight” rating in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Stellantis in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $27.34.

Stellantis Trading Down 0.9 %

NYSE:STLA traded down $0.12 during midday trading on Thursday, hitting $12.91. The stock had a trading volume of 1,893,074 shares, compared to its average volume of 6,835,471. Stellantis has a one year low of $12.74 and a one year high of $29.51. The company has a market capitalization of $40.44 billion, a price-to-earnings ratio of 3.63, a PEG ratio of 0.35 and a beta of 1.62. The stock has a 50-day moving average of $15.16 and a 200 day moving average of $19.48. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26.

Insiders Place Their Bets

In other news, major shareholder N.V. Stellantis bought 2,982,089 shares of Stellantis stock in a transaction that occurred on 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 directly owns 59,734,962 shares of the company’s stock, valued at approximately $200,112,122.70. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.02% of the stock is owned by company insiders.

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.