Neuberger Berman Group LLC Reduces Position in Stellantis N.V. $STLA

Key Points

• Neuberger Berman Group LLC has reduced its holdings in Stellantis N.V. by 54.8%, selling 43,429 shares, leaving them with 35,819 shares worth approximately $397,000.
• Other institutional investors have also adjusted their stakes, with significant changes including a 422.3% increase by GAMMA Investing LLC in the first quarter.
• Federal brokerages provided mixed reviews on Stellantis, with DZ Bank upgrading the stock to a "hold" while Bank of America downgraded it to "neutral" and lowered the price target significantly.

Neuberger Berman Group LLC reduced its stake in Stellantis N.V. (NYSE:STLA - Free Report) by 54.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 35,819 shares of the company's stock after selling 43,429 shares during the quarter. Neuberger Berman Group LLC's holdings in Stellantis were worth $397,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Mpwm Advisory Solutions LLC purchased a new stake in Stellantis in the fourth quarter valued at approximately $29,000. GAMMA Investing LLC lifted its position in Stellantis by 422.3% during the first quarter. GAMMA Investing LLC now owns 3,139 shares of the company's stock valued at $35,000 after buying an additional 2,538 shares during the period. Farther Finance Advisors LLC raised its position in shares of 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 during the last quarter. Harbour Investments Inc. increased its holdings in Stellantis by 136.5% in the 1st quarter. Harbour Investments Inc. now owns 3,812 shares of the company's stock worth $43,000 after buying an additional 2,200 shares in the last quarter. Finally, WealthCollab LLC increased its holdings in Stellantis by 96.5% in the 4th quarter. WealthCollab LLC now owns 4,594 shares of the company's stock worth $60,000 after buying an additional 2,256 shares in the last quarter. 59.48% of the stock is owned by hedge funds and other institutional investors.

Stellantis Trading Down 1.3%

NYSE STLA traded down $0.1250 on Wednesday, reaching $9.8150. 5,753,668 shares of the company were exchanged, compared to its average volume of 17,637,924. Stellantis N.V. has a fifty-two week low of $8.39 and a fifty-two week high of $16.92. The business's fifty day moving average price is $9.68 and its 200 day moving average price is $10.64. The stock has a market capitalization of $29.67 billion, a P/E ratio of 2.88, a price-to-earnings-growth ratio of 0.58 and a beta of 1.45. The company has a current ratio of 1.06, a quick ratio of 0.77 and a debt-to-equity ratio of 0.37.

Analysts Set New Price Targets

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

About Stellantis

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.