Stellantis (NYSE:STLA) Shares Sold by Edge Capital Group LLC

Edge Capital Group LLC lessened its stake in shares of Stellantis (NYSE:STLA) by 4.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 276,484 shares of the company’s stock after selling 13,052 shares during the period. Edge Capital Group LLC’s holdings in Stellantis were worth $5,476,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Stellantis by 1.2% during the first quarter. Vanguard Group Inc. now owns 83,818,351 shares of the company’s stock valued at $2,372,059,000 after purchasing an additional 972,232 shares during the last quarter. Capital International Investors lifted its stake in Stellantis by 329.3% during the first quarter. Capital International Investors now owns 22,503,781 shares of the company’s stock valued at $639,609,000 after buying an additional 17,261,955 shares in the last quarter. Capital World Investors boosted its holdings in shares of Stellantis by 63.4% in the first quarter. Capital World Investors now owns 13,756,552 shares of the company’s stock worth $390,811,000 after buying an additional 5,336,868 shares during the period. Bank of New York Mellon Corp increased its position in shares of Stellantis by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 11,532,856 shares of the company’s stock worth $326,380,000 after acquiring an additional 548,929 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Stellantis by 0.4% during the second quarter. Canada Pension Plan Investment Board now owns 9,838,506 shares of the company’s stock valued at $194,755,000 after acquiring an additional 43,159 shares during the period. Institutional investors and hedge funds own 59.48% of the company’s stock.

Stellantis Trading Down 2.7 %

Shares of STLA stock opened at $15.00 on Friday. The business’s 50 day moving average is $16.68 and its two-hundred day moving average is $21.33. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. Stellantis has a 12 month low of $14.76 and a 12 month high of $29.51. The company has a market cap of $46.99 billion, a PE ratio of 3.00, a price-to-earnings-growth ratio of 0.26 and a beta of 1.63.

Insider Activity at Stellantis

In other news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was bought at an average cost of $3.35 per share, for a total transaction of $9,989,998.15. Following the completion of the acquisition, the insider now directly owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Nomura raised shares of Stellantis from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 31st. Sanford C. Bernstein initiated coverage on Stellantis in a report on Friday, June 28th. They set a “market perform” rating and a $23.50 price target on the stock. Wolfe Research reissued a “peer perform” rating on shares of Stellantis in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft lowered Stellantis from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $16.44 price target (down from $27.30) on shares of Stellantis in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.34.

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.