Stellantis N.V. $STLA Shares Purchased by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board increased its stake in Stellantis N.V. by acquiring an additional 885,749 shares, raising its total ownership to approximately 15.1 million shares valued at $168.03 million.
• Recently, financial analysts have issued mixed ratings on Stellantis, with Bank of America downgrading the stock from “buy” to “neutral” and cutting its price target from $16.50 to $11.75.
• Stellantis's stock is currently priced at $9.64 with a market capitalization of $29.13 billion, reflecting a volatile trading range over the past year.

Canada Pension Plan Investment Board lifted its position in shares of Stellantis N.V. (NYSE:STLA - Free Report) by 6.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,131,049 shares of the company's stock after buying an additional 885,749 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.50% of Stellantis worth $168,031,000 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. Goldman Sachs Group Inc. grew its holdings in shares of Stellantis by 208.0% during the first quarter. Goldman Sachs Group Inc. now owns 95,367,261 shares of the company's stock worth $1,069,067,000 after buying an additional 64,406,866 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of Stellantis during the first quarter worth about $368,520,000. Hsbc Holdings PLC grew its holdings in shares of Stellantis by 318.6% during the first quarter. Hsbc Holdings PLC now owns 11,808,556 shares of the company's stock worth $130,893,000 after buying an additional 8,987,548 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Stellantis during the fourth quarter worth about $93,779,000. Finally, Groupe la Francaise purchased a new stake in shares of Stellantis during the first quarter worth about $62,123,000. 59.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Stellantis Trading Down 2.2%

Stellantis stock traded down $0.22 during trading on Tuesday, reaching $9.42. The company had a trading volume of 11,863,139 shares, compared to its average volume of 17,331,787. Stellantis N.V. has a 12-month low of $8.39 and a 12-month high of $16.38. The stock's 50 day moving average price is $9.69 and its two-hundred day moving average price is $10.41. The firm has a market capitalization of $28.46 billion, a price-to-earnings ratio of 2.76, a PEG ratio of 0.57 and a beta of 1.46. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.77 and a current ratio of 1.06.

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.