Te Ahumairangi Investment Management Ltd Acquires 55,379 Shares of Stellantis N.V. $STLA

Key Points

• Te Ahumairangi Investment Management Ltd increased its stake in Stellantis N.V. by 11.8%, now holding 525,879 shares valued at approximately $5.83 million, making it the 24th largest holding in their portfolio.
• Stellantis has seen significant changes in institutional ownership, with several hedge funds raising their positions, including GAMMA Investing LLC by 422.3% during the first quarter.
• The stock is currently rated with mixed analyst opinions, having received downgrades from multiple firms, with an average price target of $12.74 and a consensus rating of "Reduce".

Te Ahumairangi Investment Management Ltd raised its holdings in Stellantis N.V. (NYSE:STLA - Free Report) by 11.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 525,879 shares of the company's stock after buying an additional 55,379 shares during the quarter. Stellantis makes up approximately 1.2% of Te Ahumairangi Investment Management Ltd's holdings, making the stock its 24th largest holding. Te Ahumairangi Investment Management Ltd's holdings in Stellantis were worth $5,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC bought a new stake in Stellantis in the fourth quarter valued at approximately $29,000. SVB Wealth LLC purchased a new position in Stellantis during the first quarter valued at approximately $35,000. GAMMA Investing LLC boosted its position in Stellantis by 422.3% during the 1st 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 stake in Stellantis by 54.5% during the first quarter. Farther Finance Advisors LLC now owns 3,309 shares of the company's stock valued at $37,000 after buying an additional 1,167 shares during the last quarter. Finally, Harbour Investments Inc. increased its holdings in Stellantis by 136.5% during the first quarter. Harbour Investments Inc. now owns 3,812 shares of the company's stock valued at $43,000 after buying an additional 2,200 shares during the last quarter. Institutional investors own 59.48% of the company's stock.

Stellantis Price Performance

Shares of STLA traded down $0.22 during trading hours on Tuesday, reaching $9.42. The company had a trading volume of 11,862,484 shares, compared to its average volume of 17,324,582. 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 company has a market capitalization of $28.46 billion, a price-to-earnings ratio of 2.76, a PEG ratio of 0.57 and a beta of 1.46. The firm has a 50 day simple moving average of $9.69 and a 200-day simple moving average of $10.41. Stellantis N.V. has a 12-month low of $8.39 and a 12-month high of $16.38.

Analyst Upgrades and Downgrades

STLA has been the subject of a number of analyst reports. Bank of America cut shares of Stellantis from a "buy" rating to a "neutral" rating and decreased their target price for the company from $16.50 to $11.75 in a research report on Monday, July 7th. Wolfe Research cut shares of Stellantis from a "peer perform" rating to an "underperform" rating in a report on Wednesday, July 2nd. 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. Finally, Zacks Research cut shares of Stellantis from a "hold" rating to a "strong sell" rating in a research report on Monday, August 25th. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average 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.