Allianz Asset Management GmbH Sells 862,500 Shares of Stellantis N.V. $STLA

Allianz Asset Management GmbH decreased its position in shares of Stellantis N.V. (NYSE:STLA - Free Report) by 18.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,693,281 shares of the company's stock after selling 862,500 shares during the period. Allianz Asset Management GmbH owned 0.12% of Stellantis worth $37,044,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Generali Asset Management SPA SGR raised its stake in Stellantis by 4.7% during the 2nd quarter. Generali Asset Management SPA SGR now owns 4,640,832 shares of the company's stock worth $46,548,000 after acquiring an additional 209,595 shares during the period. TD Asset Management Inc raised its stake in Stellantis by 2.5% during the 2nd quarter. TD Asset Management Inc now owns 643,266 shares of the company's stock worth $6,425,000 after acquiring an additional 15,795 shares during the period. Credit Industriel ET Commercial raised its stake in Stellantis by 11.4% during the 2nd quarter. Credit Industriel ET Commercial now owns 140,002 shares of the company's stock worth $1,396,000 after acquiring an additional 14,339 shares during the period. Atria Wealth Solutions Inc. raised its stake in Stellantis by 46.7% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 15,691 shares of the company's stock worth $161,000 after acquiring an additional 4,996 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new stake in Stellantis during the 2nd quarter worth approximately $185,000. Institutional investors own 59.48% of the company's stock.

Stellantis Trading Up 3.2%

STLA stock opened at $10.56 on Friday. The firm has a fifty day moving average price of $9.76 and a 200 day moving average price of $9.75. Stellantis N.V. has a fifty-two week low of $8.39 and a fifty-two week high of $14.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.77 and a current ratio of 1.06. The firm has a market cap of $31.92 billion, a PE ratio of 3.10, a price-to-earnings-growth ratio of 0.73 and a beta of 1.52.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on STLA. Bank of America lowered shares of Stellantis from a "buy" rating to a "neutral" rating and cut their price objective for the company from $16.50 to $11.75 in a report on Monday, July 7th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Stellantis in a report on Wednesday, October 8th. Wolfe Research lowered shares of Stellantis from a "peer perform" rating to an "underperform" rating in a report on Wednesday, July 2nd. BNP Paribas Exane began coverage on shares of Stellantis in a report on Monday, September 8th. They set a "neutral" rating and a $10.10 price objective for the company. Finally, BNP Paribas raised shares of Stellantis to a "hold" rating in a report on Tuesday, September 9th. Two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $12.04.

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.

Want to see what other hedge funds are holding STLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stellantis N.V. (NYSE:STLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.