Swiss National Bank Lowers Stock Holdings in Stellantis N.V. $STLA

Swiss National Bank reduced its holdings in Stellantis N.V. (NYSE:STLA) by 4.6% during the 3rd quarter, Holdings Channel reports. The firm owned 5,830,757 shares of the company’s stock after selling 282,861 shares during the quarter. Swiss National Bank’s holdings in Stellantis were worth $53,799,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bank of Italy lifted its position in shares of Stellantis by 11.6% during the 3rd quarter. Bank of Italy now owns 36,630,307 shares of the company’s stock valued at $338,212,000 after buying an additional 3,800,000 shares in the last quarter. Generali Asset Management SPA SGR grew its stake in Stellantis by 2.2% in the 3rd quarter. Generali Asset Management SPA SGR now owns 4,743,160 shares of the company’s stock valued at $44,301,000 after acquiring an additional 102,328 shares during the period. Elgethun Capital Management increased its holdings in Stellantis by 8.2% in the 2nd quarter. Elgethun Capital Management now owns 342,727 shares of the company’s stock worth $3,438,000 after acquiring an additional 26,042 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Stellantis by 8.7% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 7,009,256 shares of the company’s stock worth $70,002,000 after acquiring an additional 562,789 shares during the period. Finally, Exane Asset Management lifted its holdings in Stellantis by 134.3% during the third quarter. Exane Asset Management now owns 1,401,411 shares of the company’s stock valued at $12,961,000 after purchasing an additional 803,186 shares in the last quarter. 59.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on STLA shares. UBS Group upgraded shares of Stellantis from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Stellantis in a research note on Wednesday, January 21st. Loop Capital set a $8.00 price objective on Stellantis in a report on Monday, March 2nd. The Goldman Sachs Group upgraded Stellantis to a “hold” rating in a report on Monday, November 24th. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $9.90 target price on shares of Stellantis in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $11.12.

Stellantis Stock Performance

Shares of STLA opened at $6.90 on Thursday. Stellantis N.V. has a 52-week low of $6.85 and a 52-week high of $12.74. The firm’s fifty day moving average is $8.92 and its two-hundred day moving average is $9.87. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 0.59.

Stellantis Company Profile

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.