PDT Partners LLC Acquires 449,848 Shares of Stellantis N.V. $STLA

Key Points

• PDT Partners LLC significantly increased its stake in Stellantis N.V. by 188.2%, owning 688,841 shares valued at approximately $7.72 million.
• Institutional investors hold about 59.48% of Stellantis's shares, with several firms making recent changes to their positions in the stock.
• Stellantis's stock has recently seen analysts downgrade ratings, with Zacks Research moving it from "hold" to "strong sell" while Jefferies Financial Group upgraded it to "buy" with a new price target of $13.20.

PDT Partners LLC lifted its position in Stellantis N.V. (NYSE:STLA - Free Report) by 188.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 688,841 shares of the company's stock after acquiring an additional 449,848 shares during the period. Stellantis comprises approximately 0.5% of PDT Partners LLC's holdings, making the stock its 17th largest position. PDT Partners LLC's holdings in Stellantis were worth $7,722,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in shares of Stellantis by 208.0% in the first quarter. Goldman Sachs Group Inc. now owns 95,367,261 shares of the company's stock worth $1,069,067,000 after acquiring an additional 64,406,866 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Stellantis by 3.3% during the first quarter. Vanguard Group Inc. now owns 87,342,145 shares of the company's stock worth $979,629,000 after purchasing an additional 2,791,016 shares during the period. Deutsche Bank AG acquired a new position in Stellantis in the 1st quarter valued at approximately $368,520,000. Canada Pension Plan Investment Board lifted its position in Stellantis by 6.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 15,131,049 shares of the company's stock worth $168,031,000 after buying an additional 885,749 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in Stellantis by 318.6% in the 1st 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. 59.48% of the stock is owned by hedge funds and other institutional investors.

Stellantis Stock Performance

Shares of STLA stock traded down $0.28 during trading on Wednesday, reaching $9.14. The company had a trading volume of 12,117,170 shares, compared to its average volume of 10,959,216. The firm's 50 day simple moving average is $9.67 and its two-hundred day simple moving average is $10.39. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.06 and a quick ratio of 0.77. Stellantis N.V. has a one year low of $8.39 and a one year high of $16.29. The company has a market capitalization of $27.62 billion, a PE ratio of 2.68, a PEG ratio of 0.57 and a beta of 1.46.

Analyst Upgrades and Downgrades

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

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.