Envestnet Asset Management Inc. Purchases 314,102 Shares of Stellantis (NYSE:STLA)

Envestnet Asset Management Inc. lifted its position in shares of Stellantis (NYSE:STLA) by 30.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,335,072 shares of the company’s stock after acquiring an additional 314,102 shares during the period. Envestnet Asset Management Inc.’s holdings in Stellantis were worth $26,500,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of STLA. Rothschild Investment LLC bought a new position in Stellantis in the second quarter valued at about $25,000. Westend Capital Management LLC bought a new position in Stellantis in the 1st quarter valued at approximately $38,000. ORG Partners LLC acquired a new stake in Stellantis in the second quarter valued at approximately $38,000. Cape Investment Advisory Inc. boosted its position in Stellantis by 424.4% in the fourth quarter. Cape Investment Advisory Inc. now owns 2,145 shares of the company’s stock valued at $50,000 after buying an additional 1,736 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of Stellantis during the second quarter worth $54,000. 59.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft downgraded Stellantis from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Sanford C. Bernstein assumed coverage on Stellantis in a research note on Friday, June 28th. They issued a “market perform” rating and a $23.50 price objective for the company. Nomura Securities upgraded shares of Stellantis from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 31st. Barclays raised shares of Stellantis to a “strong-buy” rating in a report on Monday, June 17th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Stellantis in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.34.

Stellantis Price Performance

STLA stock opened at $15.00 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. The company’s fifty day simple moving average is $16.68 and its 200 day simple moving average is $21.33. Stellantis has a 12-month low of $14.76 and a 12-month high of $29.51. The firm has a market cap of $46.99 billion, a price-to-earnings ratio of 3.00, a PEG ratio of 0.26 and a beta of 1.63.

Insider Activity

In other Stellantis news, major shareholder N.V. Stellantis bought 2,982,089 shares of the stock in a transaction on Thursday, August 8th. The stock was acquired 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 owns 59,734,962 shares in the company, valued at approximately $200,112,122.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.02% of the stock is owned by company insiders.

Stellantis 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.