Stellantis (NYSE:STLA) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in shares of Stellantis (NYSE:STLA) by 26.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,210,678 shares of the company’s stock after selling 429,165 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Stellantis were worth $15,784,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Stellantis by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 84,551,129 shares of the company’s stock valued at $1,099,842,000 after buying an additional 2,102,528 shares during the period. Norges Bank purchased a new stake in shares of Stellantis during the 4th quarter worth about $609,076,000. AustralianSuper Pty Ltd grew its position in shares of Stellantis by 34.3% during the 4th quarter. AustralianSuper Pty Ltd now owns 12,210,877 shares of the company’s stock valued at $159,495,000 after acquiring an additional 3,121,462 shares during the period. Franklin Resources Inc. increased its stake in shares of Stellantis by 74.7% in the 3rd quarter. Franklin Resources Inc. now owns 7,605,563 shares of the company’s stock valued at $102,340,000 after purchasing an additional 3,252,492 shares in the last quarter. Finally, Banco Santander S.A. raised its holdings in Stellantis by 282.2% in the 4th quarter. Banco Santander S.A. now owns 7,258,025 shares of the company’s stock worth $94,717,000 after purchasing an additional 5,359,190 shares during the period. 59.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Piper Sandler lowered Stellantis from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $13.00 in a report on Thursday, March 20th. Cowen initiated coverage on shares of Stellantis in a research note on Thursday, March 6th. They issued a “hold” rating on the stock. Finally, TD Cowen started coverage on shares of Stellantis in a report on Friday, March 7th. They set a “hold” rating and a $13.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Stellantis has a consensus rating of “Hold” and an average price target of $19.27.

Stellantis Trading Down 1.1 %

Shares of STLA opened at $11.09 on Wednesday. The firm’s fifty day moving average is $12.88 and its two-hundred day moving average is $13.23. The stock has a market cap of $33.53 billion, a PE ratio of 3.25 and a beta of 1.64. 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 52-week low of $10.95 and a 52-week high of $27.72.

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.