Stellantis (NYSE:STLA – Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $19.60, but opened at $17.97. Stellantis shares last traded at $17.95, with a volume of 1,733,506 shares trading hands.
Analysts Set New Price Targets
Several research analysts have weighed in on STLA shares. Barclays raised Stellantis to a “strong-buy” rating in a research report on Monday, June 17th. Sanford C. Bernstein initiated coverage on 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, Morgan Stanley boosted their target price on Stellantis from $26.00 to $30.40 and gave the stock an “overweight” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.55.
Read Our Latest Stock Report on Stellantis
Stellantis Stock Down 7.9 %
Institutional Trading of Stellantis
Institutional investors have recently added to or reduced their stakes in the company. Nvwm LLC bought a new stake in shares of Stellantis during the 4th quarter valued at $885,000. Wells Fargo & Company MN lifted its position in shares of Stellantis by 12.5% during the 4th quarter. Wells Fargo & Company MN now owns 596,174 shares of the company’s stock worth $13,903,000 after buying an additional 66,427 shares during the last quarter. Cim LLC bought a new stake in shares of Stellantis during the 4th quarter worth $1,977,000. Assenagon Asset Management S.A. lifted its position in shares of Stellantis by 122.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 149,052 shares of the company’s stock worth $3,482,000 after buying an additional 82,074 shares during the last quarter. Finally, Freemont Management S.A. bought a new stake in shares of Stellantis during the 4th quarter worth $3,032,000. 59.48% of the stock is currently owned by institutional investors.
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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