Voya Investment Management LLC Sells 28,705 Shares of Stellantis N.V. $STLA

Key Points

• Voya Investment Management LLC has reduced its stake in Stellantis N.V. by 8.3%, selling 28,705 shares, which brings their total ownership to 318,369 shares worth approximately $3.53 million as of the latest reporting period.
• Multiple institutional investors are actively buying and adjusting their holdings in Stellantis, with Deutsche Bank AG acquiring a new stake valued at $368.5 million in the same quarter.
• Zacks Research downgraded Stellantis to a "strong sell" rating, while other analysts, including Berenberg Bank, have upgraded the stock, indicating a polarized outlook among equities analysts.

Voya Investment Management LLC lessened its stake in shares of Stellantis N.V. (NYSE:STLA - Free Report) by 8.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 318,369 shares of the company's stock after selling 28,705 shares during the quarter. Voya Investment Management LLC's holdings in Stellantis were worth $3,529,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Deutsche Bank AG acquired a new stake in shares of Stellantis in the 1st quarter worth $368,520,000. Jupiter Asset Management Ltd. acquired a new stake in shares of Stellantis in the 1st quarter worth $1,755,000. Amundi boosted its position in shares of Stellantis by 6.4% in the 1st quarter. Amundi now owns 78,473,374 shares of the company's stock worth $801,213,000 after purchasing an additional 4,708,200 shares in the last quarter. LPL Financial LLC boosted its position in shares of Stellantis by 32.6% in the 1st quarter. LPL Financial LLC now owns 244,428 shares of the company's stock worth $2,740,000 after purchasing an additional 60,097 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of Stellantis by 0.8% in the 1st quarter. Swiss National Bank now owns 5,817,223 shares of the company's stock worth $64,526,000 after purchasing an additional 45,181 shares in the last quarter. Institutional investors own 59.48% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on STLA shares. Zacks Research lowered Stellantis from a "hold" rating to a "strong sell" rating in a research note on Monday, August 25th. Jefferies Financial Group upgraded Stellantis from a "hold" rating to a "buy" rating and raised their target price for the stock from $10.25 to $13.20 in a research note on Wednesday, June 25th. BNP Paribas Exane started coverage on Stellantis in a research note on Monday, September 8th. They issued a "neutral" rating and a $10.10 target price for the company. Berenberg Bank upgraded Stellantis from a "hold" rating to a "buy" rating and set a $11.20 target price for the company in a research note on Friday. Finally, BNP Paribas upgraded Stellantis to a "hold" rating in a research note on Tuesday, September 9th. Two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $12.04.

Stellantis Trading Down 1.3%

STLA opened at $9.85 on Friday. Stellantis N.V. has a one year low of $8.39 and a one year high of $16.29. The stock has a market capitalization of $29.78 billion, a PE ratio of 2.89, a P/E/G ratio of 0.59 and a beta of 1.46. The business's 50 day moving average price is $9.48 and its 200 day moving average price is $10.06. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.77 and a current ratio of 1.06.

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.

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