Stellantis (NYSE:STLA) Position Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in shares of Stellantis (NYSE:STLA) by 3,662.6% during the third quarter, HoldingsChannel reports. The fund owned 184,666 shares of the company’s stock after acquiring an additional 179,758 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Stellantis were worth $2,557,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Rothschild Investment LLC bought a new position in Stellantis during the 2nd quarter valued at $25,000. Central Pacific Bank Trust Division bought a new position in Stellantis during the 3rd quarter valued at $35,000. ORG Partners LLC bought a new position in Stellantis during the 2nd quarter valued at $38,000. Ridgewood Investments LLC bought a new position in Stellantis during the 2nd quarter valued at $54,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Stellantis during the second quarter worth $91,000. 59.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

STLA has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft cut shares of Stellantis from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Nomura Securities raised shares of Stellantis from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 31st. Nomura raised shares of Stellantis from a “neutral” rating to a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada reissued a “sector perform” rating on shares of Stellantis in a report on Friday, October 4th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Stellantis in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Stellantis currently has an average rating of “Hold” and a consensus target price of $27.34.

Stellantis Trading Down 2.9 %

STLA stock opened at $13.35 on Wednesday. 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 fifty-two week low of $12.74 and a fifty-two week high of $29.51. The firm’s 50-day simple moving average is $14.73 and its 200 day simple moving average is $18.56.

Insider Buying and Selling

In related news, major shareholder N.V. Stellantis bought 2,982,089 shares of the stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $3.35 per share, with a total value of $9,989,998.15. Following the purchase, the insider now owns 59,734,962 shares in the company, valued at approximately $200,112,122.70. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.02% of the company’s stock.

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.