Royal Bank of Canada reissued their sector perform rating on shares of Stellantis (NYSE:STLA – Free Report) in a research note released on Friday morning, Marketbeat Ratings reports.
STLA has been the topic of a number of other research reports. Jefferies Financial Group reissued a hold rating and issued a $16.44 price objective (down previously from $27.30) on shares of Stellantis in a research report on Wednesday, August 7th. Barclays lowered shares of Stellantis from an overweight rating to an equal weight rating in a research report on Thursday, October 3rd. Wolfe Research reissued a peer perform rating on shares of Stellantis in a research report 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 target on the stock. Finally, Nomura raised shares of Stellantis from a neutral rating to a buy rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $27.34.
Check Out Our Latest Report on STLA
Stellantis Stock Performance
Insider Buying and Selling at Stellantis
In other Stellantis news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of $3.35 per share, for a total transaction of $9,989,998.15. Following the completion of the purchase, the insider now owns 59,734,962 shares of the company’s stock, valued at approximately $200,112,122.70. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.02% of the company’s stock.
Hedge Funds Weigh In On Stellantis
Several institutional investors and hedge funds have recently modified their holdings of the business. Rothschild Investment LLC acquired a new stake in Stellantis during the second quarter worth about $25,000. Westend Capital Management LLC acquired a new stake in Stellantis during the first quarter worth about $38,000. ORG Partners LLC acquired a new stake in Stellantis during the second quarter worth about $38,000. Central Pacific Bank Trust Division acquired a new stake in Stellantis during the third quarter worth about $35,000. Finally, Scarborough Advisors LLC acquired a new stake in Stellantis during the fourth quarter worth about $59,000. 59.48% of the stock is currently owned by institutional investors and hedge funds.
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.
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