1832 Asset Management L.P. Sells 35,519 Shares of Stellantis (NYSE:STLA)

1832 Asset Management L.P. decreased its stake in shares of Stellantis (NYSE:STLA) by 16.8% in the first quarter, Holdings Channel.com reports. The fund owned 176,170 shares of the company’s stock after selling 35,519 shares during the period. 1832 Asset Management L.P.’s holdings in Stellantis were worth $4,986,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nvwm LLC bought a new position in shares of Stellantis during the fourth quarter worth $885,000. Wells Fargo & Company MN boosted its position in shares of Stellantis by 12.5% during the fourth quarter. Wells Fargo & Company MN now owns 596,174 shares of the company’s stock worth $13,903,000 after acquiring an additional 66,427 shares during the last quarter. Cim LLC purchased a new stake in Stellantis during the fourth quarter valued at $1,977,000. Assenagon Asset Management S.A. raised its stake in Stellantis by 122.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 149,052 shares of the company’s stock valued at $3,482,000 after purchasing an additional 82,074 shares in the last quarter. Finally, Freemont Management S.A. purchased a new stake in Stellantis during the fourth quarter valued at $3,032,000. Institutional investors own 59.48% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on STLA. Barclays raised shares of Stellantis to a “strong-buy” rating in a research note on Monday, June 17th. Sanford C. Bernstein began coverage on shares of Stellantis in a research note on Friday, June 28th. They set a “market perform” rating and a $23.50 price target on the stock. Finally, Morgan Stanley upped their price target on shares of Stellantis from $26.00 to $30.40 and gave the company an “overweight” rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.55.

Stellantis Stock Performance

Shares of STLA traded down $0.43 during midday trading on Friday, hitting $17.66. The stock had a trading volume of 12,017,125 shares, compared to its average volume of 6,847,775. Stellantis has a 1 year low of $17.42 and a 1 year high of $29.51. The company has a current ratio of 1.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average is $20.76 and its 200 day moving average is $23.48.

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.