Raymond James Financial Inc. Buys New Position in Stellantis (NYSE:STLA)

Raymond James Financial Inc. purchased a new position in Stellantis (NYSE:STLA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 88,186 shares of the company's stock, valued at approximately $1,151,000.

A number of other hedge funds also recently modified their holdings of the business. AustralianSuper Pty Ltd raised its stake in shares of Stellantis by 34.3% during the 4th quarter. AustralianSuper Pty Ltd now owns 12,210,877 shares of the company's stock worth $159,495,000 after purchasing an additional 3,121,462 shares in the last quarter. Franklin Resources Inc. grew its holdings in Stellantis by 74.7% during the third quarter. Franklin Resources Inc. now owns 7,605,563 shares of the company's stock worth $102,340,000 after purchasing an additional 3,252,492 shares during the period. Quadrature Capital Ltd increased its position in Stellantis by 30.4% during the third quarter. Quadrature Capital Ltd now owns 3,445,648 shares of the company's stock worth $47,752,000 after buying an additional 802,497 shares during the last quarter. FMR LLC raised its stake in Stellantis by 4.9% in the third quarter. FMR LLC now owns 3,137,594 shares of the company's stock valued at $44,083,000 after buying an additional 145,583 shares during the period. Finally, Two Sigma Advisers LP lifted its position in shares of Stellantis by 2.4% in the third quarter. Two Sigma Advisers LP now owns 2,824,505 shares of the company's stock valued at $39,684,000 after buying an additional 66,600 shares during the last quarter. Institutional investors and hedge funds own 59.48% of the company's stock.

Stellantis Price Performance

STLA traded down $0.50 on Friday, reaching $9.72. The stock had a trading volume of 32,355,225 shares, compared to its average volume of 9,616,576. The firm has a 50-day moving average of $12.71 and a 200-day moving average of $13.16. Stellantis has a fifty-two week low of $9.36 and a fifty-two week high of $27.56. The company has a market capitalization of $29.37 billion, a price-to-earnings ratio of 2.85 and a beta of 1.44. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26.

Remove Ads

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. TD Cowen began coverage on Stellantis in a report on Friday, March 7th. They set a "hold" rating and a $13.00 price target for the company. Cowen assumed coverage on Stellantis in a report on Thursday, March 6th. They set a "hold" rating for the company. Finally, Piper Sandler lowered Stellantis from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $23.00 to $13.00 in a research note on Thursday, March 20th. Nine equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $19.27.

Stellantis Profile

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.