Stellantis N.V. (NYSE:STLA) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its position in Stellantis N.V. (NYSE:STLA) by 50.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 82,349 shares of the company’s stock after selling 82,378 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Stellantis were worth $914,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in STLA. Norges Bank acquired a new stake in shares of Stellantis in the 4th quarter valued at about $609,076,000. Marshall Wace LLP boosted its position in shares of Stellantis by 72,446.0% in the 4th quarter. Marshall Wace LLP now owns 17,400,161 shares of the company’s stock valued at $226,899,000 after purchasing an additional 17,376,176 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Stellantis in the 4th quarter valued at about $93,779,000. Capital Research Global Investors boosted its position in shares of Stellantis by 306.9% in the 4th quarter. Capital Research Global Investors now owns 6,905,990 shares of the company’s stock valued at $90,636,000 after purchasing an additional 5,208,889 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Stellantis in the 4th quarter valued at about $62,769,000. 59.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STLA has been the subject of a number of research analyst reports. Bank of America cut Stellantis from a “buy” rating to a “neutral” rating and decreased their target price for the company from $16.50 to $11.75 in a research report on Monday. DZ Bank raised Stellantis from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 22nd. UBS Group cut Stellantis from a “buy” rating to a “neutral” rating in a research report on Monday, April 14th. Jefferies Financial Group raised Stellantis from a “hold” rating to a “buy” rating and increased their price objective for the stock from $10.25 to $13.20 in a research report on Wednesday, June 25th. Finally, Piper Sandler cut Stellantis from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $13.00 in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.74.

Stellantis Stock Performance

Shares of STLA stock opened at $10.10 on Wednesday. The company has a market cap of $30.53 billion, a price-to-earnings ratio of 2.96 and a beta of 1.44. The stock has a 50 day simple moving average of $10.02 and a 200-day simple moving average of $11.36. Stellantis N.V. has a 12-month low of $8.39 and a 12-month high of $21.05. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.30.

Stellantis Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, May 5th. Stockholders of record on Thursday, April 24th were paid a dividend of $0.5032 per share. This represents a dividend yield of 6.07%. The ex-dividend date was Wednesday, April 23rd.

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.