Stellantis N.V. $STLA Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC grew its holdings in Stellantis N.V. (NYSE:STLA) by 118.4% during the 1st quarter, Holdings Channel reports. The fund owned 3,365,143 shares of the company’s stock after purchasing an additional 1,824,139 shares during the period. Renaissance Technologies LLC’s holdings in Stellantis were worth $23,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors grew its position in Stellantis by 34.9% during the 4th quarter. Capital Research Global Investors now owns 4,236,161 shares of the company’s stock worth $46,769,000 after purchasing an additional 1,096,413 shares during the period. Norges Bank purchased a new position in Stellantis during the fourth quarter valued at approximately $553,692,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Stellantis by 19.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,803,310 shares of the company’s stock worth $19,908,000 after purchasing an additional 298,611 shares in the last quarter. Leonteq Securities AG purchased a new stake in Stellantis in the 4th quarter worth approximately $77,209,000. Finally, Compagnie Lombard Odier SCmA grew its stake in shares of Stellantis by 440.1% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 250,022 shares of the company’s stock worth $2,778,000 after purchasing an additional 203,731 shares during the period. Institutional investors and hedge funds own 59.48% of the company’s stock.

Stellantis Stock Performance

NYSE:STLA opened at $6.01 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.75 and a current ratio of 1.03. The stock has a market capitalization of $22.64 billion, a PE ratio of 24.06, a P/E/G ratio of 0.30 and a beta of 1.46. Stellantis N.V. has a fifty-two week low of $5.25 and a fifty-two week high of $12.22. The company has a fifty day moving average of $6.42 and a two-hundred day moving average of $7.46.

Stellantis (NYSE:STLA) last announced its earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $44.14 billion during the quarter. As a group, research analysts forecast that Stellantis N.V. will post 0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on STLA. Freedom Capital upgraded shares of Stellantis from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. Citigroup reaffirmed a “neutral” rating on shares of Stellantis in a report on Thursday, July 9th. Piper Sandler downgraded shares of Stellantis from an “overweight” rating to an “underweight” rating and set a $4.00 price objective for the company. in a research report on Monday. Weiss Ratings reissued a “sell (d)” rating on shares of Stellantis in a research note on Friday, July 17th. Finally, Truist Financial set a $9.00 target price on Stellantis in a research report on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.79.

About Stellantis

Stellantis N.V. is a global automotive manufacturer formed through the merger of Fiat Chrysler Automobiles (FCA) and Groupe PSA, a transaction completed in January 2021. The company designs, manufactures and sells a broad portfolio of passenger cars, light commercial vehicles and related powertrains under a large number of well-known brands, including (but not limited to) Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Maserati, Opel, Peugeot, Ram and Vauxhall. Stellantis also provides parts, accessories, service operations and branded aftersales support through legacy networks such as Mopar and regional dealer ecosystems.

In addition to vehicle manufacturing, Stellantis operates mobility- and software-related businesses and financial services.