Public Employees Retirement System of Ohio Sells 538,404 Shares of Stellantis N.V. $STLA

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Stellantis N.V. by 54.3%, selling 538,404 shares during the second quarter, leaving them with 452,225 shares worth approximately <$4.5 million.
• Goldman Sachs significantly increased its holding in Stellantis by 208.0%, now owning over 95.3 million shares valued at around $1.07 billion, while other institutional investors have also made substantial new investments.
• Analysts have varied opinions on Stellantis, with a consensus rating of "Hold" and an average target price of $12.04, reflecting a mix of upgrades and downgrades from notable financial institutions.

Public Employees Retirement System of Ohio decreased its position in shares of Stellantis N.V. (NYSE:STLA - Free Report) by 54.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 452,225 shares of the company's stock after selling 538,404 shares during the period. Public Employees Retirement System of Ohio's holdings in Stellantis were worth $4,515,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STLA. Goldman Sachs Group Inc. raised its stake in Stellantis by 208.0% during the 1st 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 during the period. Deutsche Bank AG bought a new stake in Stellantis during the 1st quarter worth approximately $368,520,000. Hsbc Holdings PLC raised its stake in Stellantis by 318.6% during the 1st quarter. Hsbc Holdings PLC now owns 11,808,556 shares of the company's stock worth $130,893,000 after acquiring an additional 8,987,548 shares during the period. Groupe la Francaise bought a new stake in Stellantis during the 1st quarter worth approximately $62,123,000. Finally, Nuveen LLC bought a new stake in Stellantis during the 1st quarter worth approximately $56,349,000. Institutional investors own 59.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on STLA. Wolfe Research cut shares of Stellantis from a "peer perform" rating to an "underperform" rating in a research note on Wednesday, July 2nd. BNP Paribas upgraded shares of Stellantis to a "hold" rating in a research report on Tuesday, September 9th. BNP Paribas Exane assumed coverage on shares of Stellantis in a research report on Monday, September 8th. They set a "neutral" rating and a $10.10 price objective on the stock. Bank of America cut shares of Stellantis from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $16.50 to $11.75 in a research report on Monday, July 7th. Finally, Berenberg Bank upgraded shares of Stellantis from a "hold" rating to a "buy" rating and set a $11.20 price objective on the stock in a research report on Friday, September 19th. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $12.04.

Stellantis Stock Up 1.3%

Shares of STLA opened at $9.35 on Tuesday. The firm has a market capitalization of $28.27 billion, a P/E ratio of 2.74, a P/E/G ratio of 0.58 and a beta of 1.46. Stellantis N.V. has a 12-month low of $8.39 and a 12-month high of $14.28. The company has a current ratio of 1.06, a quick ratio of 0.77 and a debt-to-equity ratio of 0.37. The firm has a fifty day moving average price of $9.49 and a 200-day moving average price of $9.89.

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.

Want to see what other hedge funds are holding STLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stellantis N.V. (NYSE:STLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.