Te Ahumairangi Investment Management Ltd Acquires 118,635 Shares of Stellantis (NYSE:STLA)

Te Ahumairangi Investment Management Ltd raised its stake in Stellantis (NYSE:STLA - Free Report) by 28.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 537,996 shares of the company's stock after purchasing an additional 118,635 shares during the period. Stellantis makes up approximately 1.3% of Te Ahumairangi Investment Management Ltd's holdings, making the stock its 22nd biggest position. Te Ahumairangi Investment Management Ltd's holdings in Stellantis were worth $7,408,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of STLA. Mediolanum International Funds Ltd boosted its stake in Stellantis by 17.4% during the third quarter. Mediolanum International Funds Ltd now owns 670,893 shares of the company's stock worth $9,426,000 after buying an additional 99,388 shares in the last quarter. FMR LLC boosted its stake in Stellantis by 4.9% in the 3rd 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 in the last quarter. Sound Income Strategies LLC grew its position in Stellantis by 47.1% in the third quarter. Sound Income Strategies LLC now owns 280,010 shares of the company's stock valued at $3,934,000 after acquiring an additional 89,594 shares during the period. AM Squared Ltd acquired a new position in Stellantis during the third quarter worth $641,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Stellantis by 10.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,980,732 shares of the company's stock valued at $27,429,000 after acquiring an additional 193,653 shares during the period. 59.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wolfe Research reaffirmed a "peer perform" rating on shares of Stellantis in a report on Thursday, September 5th. Barclays cut shares of Stellantis from an "overweight" rating to an "equal weight" rating in a research note on Thursday, October 3rd. Evercore ISI began coverage on shares of Stellantis in a research note on Monday, November 11th. They issued an "inline" rating for the company. Finally, Royal Bank of Canada restated a "sector perform" rating on shares of Stellantis in a research report on Friday, October 4th. Eight analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $27.34.

Stellantis Price Performance

STLA stock traded down $0.12 during trading on Thursday, hitting $13.71. The company had a trading volume of 5,553,763 shares, compared to its average volume of 7,189,472. The firm has a 50-day moving average price of $13.28 and a 200-day moving average price of $16.41. Stellantis has a 12 month low of $12.12 and a 12 month high of $29.51. 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.