Amundi Purchases 4,708,200 Shares of Stellantis N.V. $STLA

Key Points

• Amundi increased its stake in Stellantis N.V. by 6.4%, now holding approximately 78.5 million shares valued at around $801 million.
• Stellantis shares have dropped 2.2%, with the current stock price at $9.42 and a market cap of $28.46 billion.
• Analysts have varied ratings for Stellantis, with one upgrade to a "buy" rating, while others issued "neutral" and "strong sell" ratings, resulting in an average consensus price target of $12.74.

Amundi boosted its holdings in Stellantis N.V. (NYSE:STLA - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,473,374 shares of the company's stock after purchasing an additional 4,708,200 shares during the period. Amundi owned about 2.60% of Stellantis worth $801,213,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Deutsche Bank AG purchased a new stake in Stellantis in the first quarter worth $368,520,000. Jupiter Asset Management Ltd. purchased a new stake in Stellantis in the 1st quarter worth approximately $1,755,000. LPL Financial LLC boosted its stake in Stellantis by 32.6% during the first quarter. LPL Financial LLC now owns 244,428 shares of the company's stock valued at $2,740,000 after buying an additional 60,097 shares during the period. Swiss National Bank boosted its position in shares of Stellantis by 0.8% during the 1st quarter. Swiss National Bank now owns 5,817,223 shares of the company's stock valued at $64,526,000 after acquiring an additional 45,181 shares during the last quarter. Finally, Michels Family Financial LLC purchased a new position in Stellantis in the 4th quarter worth approximately $375,000. 59.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on STLA shares. Bank of America cut Stellantis from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $16.50 to $11.75 in a report on Monday, July 7th. Zacks Research cut shares of Stellantis from a "hold" rating to a "strong sell" rating in a research report on Monday, August 25th. Jefferies Financial Group upgraded Stellantis from a "hold" rating to a "buy" rating and upped their target price for the company from $10.25 to $13.20 in a report on Wednesday, June 25th. Finally, Wolfe Research lowered shares of Stellantis from a "peer perform" rating to an "underperform" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $12.74.

Stellantis Stock Down 2.2%

Shares of Stellantis stock opened at $9.42 on Wednesday. The company's 50 day moving average is $9.68 and its 200 day moving average is $10.40. The company has a market cap of $28.46 billion, a price-to-earnings ratio of 2.76, a price-to-earnings-growth ratio of 0.57 and a beta of 1.46. The company has a quick ratio of 0.77, a current ratio of 1.06 and a debt-to-equity ratio of 0.37. Stellantis N.V. has a twelve month low of $8.39 and a twelve month high of $16.38.

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.

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