Norges Bank Takes Position in Stellantis (NYSE:STLA)

Norges Bank acquired a new stake in Stellantis (NYSE:STLA - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 46,728,456 shares of the company's stock, valued at approximately $609,076,000. Norges Bank owned approximately 1.55% of Stellantis at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Stellantis by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 84,551,129 shares of the company's stock worth $1,099,842,000 after buying an additional 2,102,528 shares during the period. AustralianSuper Pty Ltd grew its position in shares of Stellantis by 34.3% in the fourth quarter. AustralianSuper Pty Ltd now owns 12,210,877 shares of the company's stock valued at $159,495,000 after purchasing an additional 3,121,462 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Stellantis by 74.7% during the third quarter. Franklin Resources Inc. now owns 7,605,563 shares of the company's stock valued at $102,340,000 after acquiring an additional 3,252,492 shares during the last quarter. Banco Santander S.A. lifted its stake in shares of Stellantis by 282.2% during the fourth quarter. Banco Santander S.A. now owns 7,258,025 shares of the company's stock valued at $94,717,000 after buying an additional 5,359,190 shares during the period. Finally, Generali Asset Management SPA SGR purchased a new stake in shares of Stellantis in the fourth quarter valued at $53,858,000. 59.48% of the stock is owned by hedge funds and other institutional investors.

Stellantis Price Performance

STLA stock traded down $0.10 during midday trading on Monday, reaching $11.23. 19,999,155 shares of the company's stock traded hands, compared to its average volume of 9,319,254. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. The company has a market cap of $33.96 billion, a price-to-earnings ratio of 3.29 and a beta of 1.64. The company has a 50-day simple moving average of $12.95 and a two-hundred day simple moving average of $13.28. Stellantis has a 1-year low of $10.91 and a 1-year high of $28.49.

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Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Piper Sandler lowered Stellantis from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $23.00 to $13.00 in a research note on Thursday, March 20th. Cowen began coverage on shares of Stellantis in a research report on Thursday, March 6th. They issued a "hold" rating for the company. Finally, TD Cowen initiated coverage on shares of Stellantis in a report on Friday, March 7th. They issued a "hold" rating and a $13.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Stellantis has a consensus rating of "Hold" and a consensus price target 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.