EverSource Wealth Advisors LLC Increases Position in Stellantis (NYSE:STLA)

EverSource Wealth Advisors LLC raised its position in Stellantis (NYSE:STLA) by 6.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,519 shares of the company’s stock after purchasing an additional 656 shares during the period. EverSource Wealth Advisors LLC’s holdings in Stellantis were worth $326,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Nvwm LLC purchased a new position in shares of Stellantis in the 4th quarter valued at $885,000. Wells Fargo & Company MN grew its position in shares of Stellantis by 12.5% in the 4th quarter. Wells Fargo & Company MN now owns 596,174 shares of the company’s stock valued at $13,903,000 after buying an additional 66,427 shares during the last quarter. Cim LLC purchased a new position in Stellantis during the 4th quarter worth $1,977,000. Freemont Management S.A. purchased a new position in Stellantis during the 4th quarter worth $3,032,000. Finally, Hennion & Walsh Asset Management Inc. grew its position in Stellantis by 21.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 45,929 shares of the company’s stock worth $1,300,000 after purchasing an additional 8,027 shares during the last quarter. 59.48% of the stock is owned by hedge funds and other institutional investors.

Stellantis Stock Performance

Shares of STLA stock traded down $0.19 during mid-day trading on Friday, hitting $16.13. The stock had a trading volume of 11,846,127 shares, compared to its average volume of 8,290,042. Stellantis has a fifty-two week low of $15.82 and a fifty-two week high of $29.51. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. The company’s 50-day simple moving average is $20.20 and its 200-day simple moving average is $23.28.

Analyst Ratings Changes

Several brokerages have issued reports on STLA. Deutsche Bank Aktiengesellschaft downgraded shares of Stellantis from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Morgan Stanley raised their price objective on shares of Stellantis from $26.00 to $30.40 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Nomura raised shares of Stellantis from a “neutral” rating to a “buy” rating in a research report on Wednesday. Barclays raised shares of Stellantis to a “strong-buy” rating in a research report on Monday, June 17th. Finally, Sanford C. Bernstein initiated coverage on shares of Stellantis in a research note on Friday, June 28th. They issued a “market perform” rating and a $23.50 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.97.

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.