Fisher Funds Management LTD Cuts Stake in Stellantis N.V. $STLA

Fisher Funds Management LTD decreased its holdings in Stellantis N.V. (NYSE:STLA) by 39.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 367,584 shares of the company’s stock after selling 244,504 shares during the quarter. Fisher Funds Management LTD’s holdings in Stellantis were worth $3,687,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new position in Stellantis in the second quarter valued at approximately $28,000. SVB Wealth LLC bought a new stake in shares of Stellantis in the first quarter worth $35,000. Harbour Investments Inc. increased its stake in shares of Stellantis by 136.5% in the first quarter. Harbour Investments Inc. now owns 3,812 shares of the company’s stock worth $43,000 after buying an additional 2,200 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Stellantis in the second quarter worth $74,000. Finally, Wealthquest Corp bought a new stake in Stellantis during the first quarter valued at $102,000. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on STLA shares. Wall Street Zen upgraded shares of Stellantis from a “sell” rating to a “hold” rating in a research note on Saturday. BNP Paribas Exane initiated coverage on shares of Stellantis in a report on Monday, September 8th. They issued a “neutral” rating and a $10.10 price objective for the company. Zacks Research raised shares of Stellantis from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Bank of America cut shares of Stellantis from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $16.50 to $11.75 in a research report on Monday, July 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Stellantis in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.04.

Stellantis Stock Performance

Shares of STLA opened at $10.14 on Friday. Stellantis N.V. has a fifty-two week low of $8.39 and a fifty-two week high of $14.28. The company has a current ratio of 1.06, a quick ratio of 0.77 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average is $9.97 and its 200-day moving average is $9.85.

Stellantis Company 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.