L2 Asset Management LLC Sells 94,509 Shares of Stellantis N.V. $STLA

L2 Asset Management LLC cut its stake in Stellantis N.V. (NYSE:STLA) by 57.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,386 shares of the company’s stock after selling 94,509 shares during the period. L2 Asset Management LLC’s holdings in Stellantis were worth $696,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in Stellantis in the 2nd quarter worth about $28,000. SVB Wealth LLC purchased a new stake in shares of Stellantis in the first quarter valued at approximately $35,000. Atlantic Union Bankshares Corp bought a new position in Stellantis in the second quarter worth approximately $37,000. EverSource Wealth Advisors LLC increased its holdings in Stellantis by 63.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,286 shares of the company’s stock worth $63,000 after purchasing an additional 2,448 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Stellantis during the 2nd quarter valued at $74,000. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Analysts Set New Price Targets

STLA has been the subject of several recent research reports. UBS Group raised Stellantis from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 2nd. Wall Street Zen cut Stellantis from a “hold” rating to a “sell” rating in a research report on Tuesday, November 25th. BNP Paribas Exane assumed coverage on Stellantis in a research report on Monday, September 8th. They set a “neutral” rating and a $10.10 target price on the stock. Zacks Research raised shares of Stellantis from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Stellantis in a report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.75.

Stellantis Stock Performance

STLA stock opened at $11.92 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.06 and a debt-to-equity ratio of 0.37. Stellantis N.V. has a one year low of $8.39 and a one year high of $14.28. The firm’s 50 day moving average price is $10.50 and its 200-day moving average price is $9.97.

Stellantis (NYSE:STLA) last posted its earnings results on Thursday, October 30th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of $0.41 by ($1.32). The company had revenue of $87.44 billion for the quarter, compared to analysts’ expectations of $87.94 billion. As a group, equities research analysts forecast that Stellantis N.V. will post 2.3 EPS for the current year.

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.