HITE Hedge Asset Management LLC Grows Holdings in Stellantis N.V. $STLA

HITE Hedge Asset Management LLC increased its holdings in Stellantis N.V. (NYSE:STLAFree Report) by 90.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 461,299 shares of the company’s stock after acquiring an additional 219,028 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in Stellantis were worth $4,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of STLA. Norges Bank purchased a new stake in Stellantis in the second quarter worth about $384,724,000. Amundi lifted its holdings in shares of Stellantis by 41.0% during the second quarter. Amundi now owns 110,680,258 shares of the company’s stock valued at $1,143,327,000 after purchasing an additional 32,206,884 shares during the last quarter. Bank of Italy lifted its holdings in shares of Stellantis by 11.6% during the third quarter. Bank of Italy now owns 36,630,307 shares of the company’s stock valued at $338,212,000 after purchasing an additional 3,800,000 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Stellantis by 137.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,832,266 shares of the company’s stock worth $54,473,000 after purchasing an additional 3,373,933 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Stellantis by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 95,143,705 shares of the company’s stock worth $883,126,000 after purchasing an additional 2,002,880 shares in the last quarter. 59.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. BNP Paribas Exane lowered Stellantis from a “hold” rating to a “strong sell” rating in a research report on Thursday, December 11th. Morgan Stanley cut Stellantis from an “overweight” rating to an “equal weight” rating and set a $10.90 target price on the stock. in a research note on Tuesday, February 3rd. Freedom Capital downgraded Stellantis from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. UBS Group raised Stellantis from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 2nd. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $9.90 price target on shares of Stellantis in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $11.12.

Check Out Our Latest Stock Analysis on Stellantis

Stellantis Price Performance

Shares of NYSE STLA opened at $6.87 on Friday. Stellantis N.V. has a twelve month low of $6.63 and a twelve month high of $12.74. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.02. The company has a 50 day moving average of $8.84 and a 200 day moving average of $9.85.

Stellantis News Roundup

Here are the key news stories impacting Stellantis this week:

Stellantis Profile

(Free Report)

Stellantis N.V. is a global automotive manufacturer formed through the merger of Fiat Chrysler Automobiles (FCA) and Groupe PSA, a transaction completed in January 2021. The company designs, manufactures and sells a broad portfolio of passenger cars, light commercial vehicles and related powertrains under a large number of well-known brands, including (but not limited to) Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Maserati, Opel, Peugeot, Ram and Vauxhall. Stellantis also provides parts, accessories, service operations and branded aftersales support through legacy networks such as Mopar and regional dealer ecosystems.

In addition to vehicle manufacturing, Stellantis operates mobility- and software-related businesses and financial services.

See Also

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Institutional Ownership by Quarter for Stellantis (NYSE:STLA)

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