Exchange Traded Concepts LLC Trims Position in Stellantis (NYSE:STLA)

Exchange Traded Concepts LLC decreased its position in shares of Stellantis (NYSE:STLA) by 39.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,538 shares of the company’s stock after selling 30,894 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Stellantis were worth $668,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital International Investors boosted its stake in Stellantis by 329.3% during the 1st quarter. Capital International Investors now owns 22,503,781 shares of the company’s stock worth $639,609,000 after purchasing an additional 17,261,955 shares during the last quarter. Capital World Investors grew its position in Stellantis by 63.4% in the 1st quarter. Capital World Investors now owns 13,756,552 shares of the company’s stock valued at $390,811,000 after acquiring an additional 5,336,868 shares in the last quarter. M&G Plc acquired a new position in Stellantis in the 1st quarter valued at about $128,254,000. Dnca Finance acquired a new position in Stellantis in the 2nd quarter valued at about $75,331,000. Finally, ANTIPODES PARTNERS Ltd grew its position in Stellantis by 184,881.3% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 3,089,187 shares of the company’s stock valued at $87,424,000 after acquiring an additional 3,087,517 shares in the last quarter. Institutional investors and hedge funds own 59.48% of the company’s stock.

Stellantis Stock Performance

Shares of STLA opened at $13.28 on Friday. The stock has a 50 day moving average price of $15.06 and a 200 day moving average price of $19.33. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $41.59 billion, a price-to-earnings ratio of 3.70, a price-to-earnings-growth ratio of 0.35 and a beta of 1.62. Stellantis has a 52-week low of $12.74 and a 52-week high of $29.51.

Insider Activity at Stellantis

In other news, major shareholder N.V. Stellantis acquired 2,982,089 shares of Stellantis stock in a transaction on Thursday, August 8th. The stock was bought at an average price of $3.35 per share, for a total transaction of $9,989,998.15. Following the completion of the purchase, the insider now owns 59,734,962 shares in the company, valued at $200,112,122.70. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

STLA has been the subject of several research reports. Deutsche Bank Aktiengesellschaft downgraded Stellantis from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Jefferies Financial Group reissued a “hold” rating and set a $16.44 price objective (down from $27.30) on shares of Stellantis in a research report on Wednesday, August 7th. Wolfe Research reissued a “peer perform” rating on shares of Stellantis in a research report on Thursday, September 5th. Nomura raised Stellantis from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada reissued a “sector perform” rating on shares of Stellantis in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” 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.