Bank of Italy Sells 1,400,000 Shares of Stellantis (NYSE:STLA)

Bank of Italy cut its position in Stellantis (NYSE:STLA - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,579,002 shares of the company's stock after selling 1,400,000 shares during the period. Stellantis accounts for 23.1% of Bank of Italy's investment portfolio, making the stock its 2nd largest holding. Bank of Italy owned approximately 1.14% of Stellantis worth $465,364,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of STLA. Canada Pension Plan Investment Board increased its position in shares of Stellantis by 0.4% during the second quarter. Canada Pension Plan Investment Board now owns 9,838,506 shares of the company's stock worth $194,755,000 after purchasing an additional 43,159 shares in the last quarter. AustralianSuper Pty Ltd lifted its stake in Stellantis by 26.3% in the third quarter. AustralianSuper Pty Ltd now owns 9,089,415 shares of the company's stock valued at $125,597,000 after buying an additional 1,894,146 shares during the last quarter. Conifer Management L.L.C. boosted its holdings in shares of Stellantis by 26.4% in the third quarter. Conifer Management L.L.C. now owns 9,000,000 shares of the company's stock valued at $126,450,000 after acquiring an additional 1,880,000 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Stellantis by 19.0% during the second quarter. Dimensional Fund Advisors LP now owns 8,925,189 shares of the company's stock worth $177,163,000 after acquiring an additional 1,425,814 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Stellantis by 74.7% in the 3rd 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 period. 59.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on STLA shares. Barclays cut shares of Stellantis from an "overweight" rating to an "equal weight" rating in a research note on Thursday, October 3rd. Royal Bank of Canada restated a "sector perform" rating on shares of Stellantis in a research report on Friday, October 4th. Finally, Evercore ISI initiated coverage on Stellantis in a research report on Monday, November 11th. They set an "inline" rating for the company. Eight research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $27.34.

Stellantis Price Performance

NYSE:STLA traded up $0.35 during trading hours on Wednesday, hitting $12.80. The company's stock had a trading volume of 5,613,072 shares, compared to its average volume of 8,607,904. The company has a market capitalization of $40.10 billion, a PE ratio of 3.73, a PEG ratio of 0.45 and a beta of 1.59. Stellantis has a 52-week low of $12.12 and a 52-week high of $29.51. The business's 50-day moving average is $13.10 and its two-hundred day moving average is $14.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.85 and a current ratio of 1.14.

Stellantis Company 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.