Quantbot Technologies LP Buys 357,396 Shares of Stellantis (NYSE:STLA)

Quantbot Technologies LP increased its stake in shares of Stellantis (NYSE:STLA) by 199.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 536,306 shares of the company’s stock after purchasing an additional 357,396 shares during the period. Stellantis makes up approximately 0.5% of Quantbot Technologies LP’s investment portfolio, making the stock its 15th largest holding. Quantbot Technologies LP’s holdings in Stellantis were worth $10,646,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in STLA. Vanguard Group Inc. boosted its position in shares of Stellantis by 1.2% during the first quarter. Vanguard Group Inc. now owns 83,818,351 shares of the company’s stock worth $2,372,059,000 after purchasing an additional 972,232 shares in the last quarter. Norges Bank acquired a new stake in Stellantis during the 4th quarter worth $832,785,000. Capital International Investors lifted its holdings in Stellantis by 329.3% during the first quarter. Capital International Investors now owns 22,503,781 shares of the company’s stock worth $639,609,000 after acquiring an additional 17,261,955 shares in the last quarter. Capital World Investors grew its stake in Stellantis by 63.4% in the first 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 during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Stellantis by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 11,532,856 shares of the company’s stock worth $326,380,000 after acquiring an additional 548,929 shares in the last quarter. Institutional investors own 59.48% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on STLA shares. Deutsche Bank Aktiengesellschaft cut Stellantis from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Wolfe Research reaffirmed a “peer perform” rating on shares of Stellantis in a research note on Thursday, September 5th. Sanford C. Bernstein assumed coverage on shares of Stellantis in a research report on Friday, June 28th. They set a “market perform” rating and a $23.50 price objective for the company. Nomura Securities raised shares of Stellantis from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $16.44 target price (down previously from $27.30) on shares of Stellantis in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.34.

Insider Activity

In related news, major shareholder N.V. Stellantis bought 2,982,089 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average price of $3.35 per share, for a total transaction of $9,989,998.15. Following the completion of the acquisition, the insider now owns 59,734,962 shares of the company’s stock, valued at approximately $200,112,122.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.02% of the stock is owned by corporate insiders.

Stellantis Price Performance

Shares of STLA stock opened at $15.07 on Monday. The firm’s fifty day moving average price is $17.15 and its two-hundred day moving average price is $21.65. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. Stellantis has a 1 year low of $14.76 and a 1 year high of $29.51.

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.