Legacy Capital Group California Inc. raised its position in Stellantis (NYSE:STLA – Free Report) by 22.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,503 shares of the company’s stock after purchasing an additional 2,494 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Stellantis were worth $237,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. Spire Wealth Management increased its stake in shares of Stellantis by 81.1% in the second quarter. Spire Wealth Management now owns 2,680 shares of the company’s stock valued at $47,000 after purchasing an additional 1,200 shares during the period. Smithfield Trust Co increased its stake in shares of Stellantis by 284,200.0% in the first quarter. Smithfield Trust Co now owns 2,843 shares of the company’s stock valued at $51,000 after purchasing an additional 2,842 shares during the period. Bessemer Group Inc. increased its stake in shares of Stellantis by 183.5% during the fourth quarter. Bessemer Group Inc. now owns 4,646 shares of the company’s stock valued at $66,000 after acquiring an additional 3,007 shares during the period. Allworth Financial LP increased its stake in shares of Stellantis by 42.9% during the second quarter. Allworth Financial LP now owns 4,535 shares of the company’s stock valued at $80,000 after acquiring an additional 1,361 shares during the period. Finally, CWM LLC increased its stake in shares of Stellantis by 121.8% during the first quarter. CWM LLC now owns 4,722 shares of the company’s stock valued at $86,000 after acquiring an additional 2,593 shares during the period. Institutional investors and hedge funds own 28.17% of the company’s stock.
Insiders Place Their Bets
In other Stellantis news, major shareholder N.V. Stellantis purchased 12,313,234 shares of the firm’s stock in a transaction on Monday, October 16th. The shares were purchased at an average price of $5.68 per share, for a total transaction of $69,939,169.12. Following the completion of the transaction, the insider now owns 31,048,137 shares in the company, valued at approximately $176,353,418.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.02% of the stock is currently owned by company insiders.
Stellantis Stock Performance
Wall Street Analyst Weigh In
A number of research analysts recently commented on the stock. Citigroup lowered shares of Stellantis from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 9th. Barclays assumed coverage on shares of Stellantis in a research note on Monday, October 16th. They set an “overweight” rating on the stock. Sanford C. Bernstein upgraded shares of Stellantis from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $18.50 to $26.40 in a research note on Wednesday, November 1st. Finally, Jefferies Financial Group raised their price objective on shares of Stellantis from $22.90 to $25.30 and gave the company a “buy” rating in a research note on Monday, July 31st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.85.
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 passenger vehicles; pickup trucks, sport utility vehicles, and commercial vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.
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