Piper Sandler Downgrades Stellantis (NYSE:STLA) to Neutral

Piper Sandler lowered shares of Stellantis (NYSE:STLA) from an overweight rating to a neutral rating in a research note issued to investors on Thursday, Marketbeat reports. They currently have $13.00 price target on the stock, down from their previous price target of $23.00.

Several other brokerages also recently commented on STLA. Cowen began coverage on shares of Stellantis in a research note on Thursday, March 6th. They issued a “hold” rating on the stock. TD Cowen started coverage on shares of Stellantis in a research report on Friday, March 7th. They set a “hold” rating and a $13.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Stellantis currently has an average rating of “Hold” and a consensus target price of $19.27.

Stellantis Stock Down 4.0 %

Shares of NYSE:STLA opened at $12.17 on Thursday. Stellantis has a 52 week low of $11.40 and a 52 week high of $29.51. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.85 and a current ratio of 1.14. The company’s fifty day moving average is $13.02 and its 200-day moving average is $13.47. The company has a market capitalization of $36.78 billion, a PE ratio of 3.57 and a beta of 1.64.

Institutional Trading of Stellantis

Several institutional investors and hedge funds have recently added to or reduced their stakes in STLA. Norges Bank bought a new stake in Stellantis during the 4th quarter worth about $609,076,000. Marshall Wace LLP raised its holdings in Stellantis by 72,446.0% during the 4th quarter. Marshall Wace LLP now owns 17,400,161 shares of the company’s stock worth $226,899,000 after purchasing an additional 17,376,176 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Stellantis during the 4th quarter worth about $93,779,000. Banco Santander S.A. raised its holdings in Stellantis by 282.2% during 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 last quarter. Finally, Capital Research Global Investors increased its stake 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 acquiring an additional 5,208,889 shares during the last quarter. 59.48% of the stock is 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.