Investors Buy Large Volume of Put Options on Stellantis (NYSE:STLA)

Stellantis (NYSE:STLA) saw unusually large options trading activity on Friday. Stock traders purchased 17,349 put options on the company. This represents an increase of approximately 132% compared to the typical volume of 7,475 put options.

Insiders Place Their Bets

In other news, major shareholder N.V. Stellantis bought 2,982,089 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of $3.35 per share, with a total value of $9,989,998.15. Following the transaction, the insider now directly owns 59,734,962 shares in the company, valued at approximately $200,112,122.70. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.02% of the company’s stock.

Institutional Trading of Stellantis

Hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its position in Stellantis by 4.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 10,863 shares of the company’s stock valued at $253,000 after purchasing an additional 430 shares during the period. Hexagon Capital Partners LLC boosted its stake in Stellantis by 3.5% in the first quarter. Hexagon Capital Partners LLC now owns 13,677 shares of the company’s stock valued at $387,000 after acquiring an additional 463 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Stellantis by 5.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,508 shares of the company’s stock valued at $298,000 after acquiring an additional 562 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Stellantis by 4.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,533 shares of the company’s stock valued at $288,000 after purchasing an additional 636 shares during the period. Finally, Janiczek Wealth Management LLC boosted its position in shares of Stellantis by 2.4% in the 1st 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. Institutional investors and hedge funds own 59.48% of the company’s stock.

Stellantis Price Performance

NYSE:STLA traded down $0.35 during trading hours on Friday, reaching $15.07. The company had a trading volume of 5,096,749 shares, compared to its average volume of 6,466,548. The firm has a market capitalization of $47.21 billion, a PE ratio of 3.08, a PEG ratio of 0.26 and a beta of 1.63. The stock has a 50-day moving average of $16.88 and a two-hundred day moving average of $21.45. Stellantis has a one year low of $14.76 and a one year high of $29.51. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on STLA shares. Sanford C. Bernstein began coverage on Stellantis in a research note on Friday, June 28th. They set a “market perform” rating and a $23.50 target price for the company. Wolfe Research restated a “peer perform” rating on shares of Stellantis in a research note on Thursday, September 5th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $16.44 price target (down previously from $27.30) on shares of Stellantis in a report on Wednesday, August 7th. Nomura raised Stellantis from a “neutral” rating to a “buy” rating in a report on Wednesday, July 31st. Finally, Barclays upgraded Stellantis to a “strong-buy” rating in a research note on Monday, June 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.