Invesco Ltd. Reduces Holdings in Stellantis N.V. $STLA

Key Points

• Invesco Ltd. has significantly reduced its stake in Stellantis N.V. by 41.2%, leaving it with approximately 6.47 million shares, valued at about $72.57 million.
• In contrast, Goldman Sachs Group Inc. increased its holdings in Stellantis by 208.0%, acquiring an additional 64.4 million shares, bringing its total to over $1 billion in value.
• Analysts have mixed views on Stellantis, with Bank of America lowering its rating from "buy" to "neutral" and adjusting the price target down to $11.75, while Jefferies raised its rating to "buy" with a target of $13.20.

Invesco Ltd. lessened its position in shares of Stellantis N.V. (NYSE:STLA - Free Report) by 41.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,474,084 shares of the company's stock after selling 4,539,232 shares during the quarter. Invesco Ltd. owned approximately 0.21% of Stellantis worth $72,574,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in shares of Stellantis by 54.5% during the first quarter. Farther Finance Advisors LLC now owns 3,309 shares of the company's stock worth $37,000 after purchasing an additional 1,167 shares in the last quarter. Ballentine Partners LLC raised its position in Stellantis by 8.0% in the 1st quarter. Ballentine Partners LLC now owns 17,792 shares of the company's stock worth $199,000 after purchasing an additional 1,317 shares during the last quarter. Glenorchy Capital Ltd lifted its holdings in Stellantis by 4.9% during the 4th quarter. Glenorchy Capital Ltd now owns 28,701 shares of the company's stock worth $375,000 after buying an additional 1,340 shares in the last quarter. National Bank of Canada FI boosted its position in Stellantis by 10.3% in the 1st quarter. National Bank of Canada FI now owns 19,132 shares of the company's stock valued at $214,000 after buying an additional 1,786 shares during the last quarter. Finally, Vise Technologies Inc. increased its stake in shares of Stellantis by 5.0% in the 4th quarter. Vise Technologies Inc. now owns 41,395 shares of the company's stock valued at $540,000 after buying an additional 1,965 shares during the period. 59.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

STLA has been the subject of several recent research reports. Jefferies Financial Group raised Stellantis from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $10.25 to $13.20 in a report on Wednesday, June 25th. Wolfe Research lowered shares of Stellantis from a "peer perform" rating to an "underperform" rating in a report on Wednesday, July 2nd. Bank of America lowered Stellantis from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $16.50 to $11.75 in a research report on Monday, July 7th. Redburn Atlantic downgraded Stellantis from a "buy" rating to a "neutral" rating in a report on Tuesday, April 22nd. Finally, DZ Bank upgraded Stellantis from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $12.74.

Stellantis Trading Down 1.0%

Shares of NYSE:STLA traded down $0.0950 during midday trading on Wednesday, reaching $9.8450. The company's stock had a trading volume of 5,504,734 shares, compared to its average volume of 17,635,852. The firm has a market capitalization of $29.76 billion, a price-to-earnings ratio of 2.89, a PEG ratio of 0.58 and a beta of 1.45. Stellantis N.V. has a fifty-two week low of $8.39 and a fifty-two week high of $16.92. 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 50 day moving average price of $9.68 and a two-hundred day moving average price of $10.64.

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.