Stellantis N.V. $STLA Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Stellantis N.V. by 16.2%, owning 363,575 shares valued at approximately $4 million as of its latest SEC filing.
• Several hedge funds have also made significant changes to their positions in Stellantis, with noted increases from firms like Farther Finance Advisors LLC and Ballentine Partners LLC during the same period.
• Analysts have downgraded Stellantis, with Bank of America cutting its target price from $16.50 to $11.75, while the stock has a consensus rating of "Reduce" and a target price of $12.21.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Stellantis N.V. (NYSE:STLA - Free Report) by 16.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 363,575 shares of the company's stock after purchasing an additional 50,794 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Stellantis were worth $4,030,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Farther Finance Advisors LLC boosted its position in Stellantis by 54.5% in the 1st 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 lifted its position in shares of Stellantis by 8.0% during the 1st quarter. Ballentine Partners LLC now owns 17,792 shares of the company's stock valued at $199,000 after buying an additional 1,317 shares in the last quarter. Strengthening Families & Communities LLC lifted its position in shares of Stellantis by 4.0% during the 1st quarter. Strengthening Families & Communities LLC now owns 44,038 shares of the company's stock valued at $494,000 after buying an additional 1,700 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Stellantis by 10.3% during 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 in the last quarter. Finally, Vise Technologies Inc. lifted its position in shares of Stellantis by 5.0% during 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 in the last quarter. Hedge funds and other institutional investors own 59.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on STLA shares. Wolfe Research lowered Stellantis from a "peer perform" rating to an "underperform" rating in a research report on Wednesday, July 2nd. BNP Paribas Exane started coverage on Stellantis in a research report on Monday, September 8th. They set a "neutral" rating and a $10.10 target price on the stock. Zacks Research lowered Stellantis from a "hold" rating to a "strong sell" rating in a research report on Monday, August 25th. Bank of America lowered Stellantis from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $16.50 to $11.75 in a report on Monday, July 7th. Finally, Jefferies Financial Group upgraded Stellantis from a "hold" rating to a "buy" rating and raised their price objective for the company from $10.25 to $13.20 in a report on Wednesday, June 25th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Stellantis presently has a consensus rating of "Reduce" and an average target price of $12.21.

Stellantis Trading Up 3.3%

Shares of STLA traded up $0.31 during midday trading on Monday, reaching $9.63. The company had a trading volume of 14,476,148 shares, compared to its average volume of 17,180,830. Stellantis N.V. has a 1-year low of $8.39 and a 1-year high of $16.29. The stock has a market cap of $29.11 billion, a PE ratio of 2.82, a price-to-earnings-growth ratio of 0.55 and a beta of 1.46. The firm has a 50 day simple moving average of $9.52 and a 200-day simple moving average of $10.11. 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 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.