Stellantis (NYSE:STLA) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in Stellantis (NYSE:STLA) by 26.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,210,678 shares of the company’s stock after selling 429,165 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Stellantis were worth $15,784,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Geneos Wealth Management Inc. purchased a new stake in Stellantis in the 4th quarter valued at about $26,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Stellantis by 67.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 3,711 shares of the company’s stock worth $48,000 after acquiring an additional 1,489 shares during the last quarter. Spire Wealth Management boosted its position in shares of Stellantis by 29.7% during the 4th quarter. Spire Wealth Management now owns 5,291 shares of the company’s stock worth $69,000 after purchasing an additional 1,211 shares during the period. Central Pacific Bank Trust Division increased its holdings in Stellantis by 160.0% in the 4th quarter. Central Pacific Bank Trust Division now owns 6,500 shares of the company’s stock valued at $85,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Life Planning Partners Inc purchased a new stake in Stellantis in the fourth quarter valued at approximately $85,000. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Stellantis Trading Down 1.1 %

Shares of NYSE:STLA opened at $11.09 on Wednesday. Stellantis has a 52 week low of $10.95 and a 52 week high of $27.72. The company’s 50 day moving average is $12.88 and its two-hundred day moving average is $13.23. The company has a market cap of $33.53 billion, a PE ratio of 3.25 and a beta of 1.64. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Piper Sandler cut Stellantis from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $13.00 in a report on Thursday, March 20th. Cowen assumed coverage on shares of Stellantis in a research note on Thursday, March 6th. They issued a “hold” rating for the company. Finally, TD Cowen initiated coverage on shares of Stellantis in a research note on Friday, March 7th. They set a “hold” rating and a $13.00 target price on the stock. Nine research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Stellantis presently has an average rating of “Hold” and a consensus target price of $19.27.

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.