Parallel Advisors LLC Raises Stock Holdings in Stellantis (NYSE:STLA)

Parallel Advisors LLC raised its position in Stellantis (NYSE:STLA) by 15.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,195 shares of the company’s stock after buying an additional 2,407 shares during the quarter. Parallel Advisors LLC’s holdings in Stellantis were worth $361,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in Stellantis by 4.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 10,863 shares of the company’s stock valued at $253,000 after buying an additional 430 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Stellantis by 3.5% during the first quarter. Hexagon Capital Partners LLC now owns 13,677 shares of the company’s stock worth $387,000 after purchasing an additional 463 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Stellantis by 5.7% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,508 shares of the company’s stock worth $298,000 after purchasing an additional 562 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Stellantis by 4.6% during the second quarter. Sequoia Financial Advisors LLC now owns 14,533 shares of the company’s stock worth $288,000 after purchasing an additional 636 shares during the last quarter. Finally, Janiczek Wealth Management LLC raised its stake in shares of Stellantis by 2.4% during the first quarter. Janiczek Wealth Management LLC now owns 28,441 shares of the company’s stock worth $805,000 after purchasing an additional 660 shares during the last quarter. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Barclays upgraded Stellantis to a “strong-buy” rating in a research note on Monday, June 17th. Deutsche Bank Aktiengesellschaft cut Stellantis from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Sanford C. Bernstein started coverage on Stellantis in a report on Friday, June 28th. They set a “market perform” rating and a $23.50 price objective on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $16.44 price objective (down previously from $27.30) on shares of Stellantis in a report on Wednesday, August 7th. Finally, Nomura raised Stellantis from a “neutral” rating to a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $27.34.

Stellantis Stock Performance

Stellantis stock opened at $15.10 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.14 and a quick ratio of 0.85. Stellantis has a fifty-two week low of $14.76 and a fifty-two week high of $29.51. The stock’s fifty day moving average is $16.98 and its two-hundred day moving average is $21.49.

Insider Buying and Selling

In other Stellantis news, major shareholder N.V. Stellantis bought 2,982,089 shares of Stellantis stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average cost of $3.35 per share, for a total transaction of $9,989,998.15. Following the completion of the transaction, the insider now owns 59,734,962 shares of the company’s stock, valued at approximately $200,112,122.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.02% of the stock is currently owned by company insiders.

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.