Stellantis (NYSE:STLA) Shares Gap Down – Here’s What Happened

Stellantis (NYSE:STLA) shares gapped down prior to trading on Thursday . The stock had previously closed at $13.63, but opened at $13.02. Stellantis shares last traded at $13.15, with a volume of 2,942,055 shares traded.

Analysts Set New Price Targets

Several research firms have recently commented on STLA. Royal Bank of Canada reissued a “sector perform” rating on shares of Stellantis in a research report on Friday. Jefferies Financial Group reaffirmed a “hold” rating and set a $16.44 target price (down from $27.30) on shares of Stellantis in a research report on Wednesday, August 7th. Barclays lowered Stellantis from an “overweight” rating to an “equal weight” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft lowered Stellantis from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Nomura Securities raised Stellantis from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $27.34.

Stellantis Stock Up 1.8 %

The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. The stock has a market cap of $41.71 billion, a PE ratio of 2.66, a P/E/G ratio of 0.27 and a beta of 1.62. The business has a 50 day moving average price of $15.73 and a 200 day moving average price of $20.52.

Insider Transactions at Stellantis

In related news, major shareholder N.V. Stellantis bought 2,982,089 shares of the stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $3.35 per share, for a total transaction of $9,989,998.15. Following the completion of the purchase, the insider now directly owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Stellantis

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Stellantis by 1.2% during the first quarter. Vanguard Group Inc. now owns 83,818,351 shares of the company’s stock worth $2,372,059,000 after purchasing an additional 972,232 shares in the last quarter. Capital International Investors boosted its position in Stellantis by 329.3% during the first quarter. Capital International Investors now owns 22,503,781 shares of the company’s stock worth $639,609,000 after purchasing an additional 17,261,955 shares in the last quarter. Capital World Investors lifted its position in shares of Stellantis by 63.4% in the first quarter. Capital World Investors now owns 13,756,552 shares of the company’s stock valued at $390,811,000 after acquiring an additional 5,336,868 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Stellantis by 0.4% in the second quarter. Canada Pension Plan Investment Board now owns 9,838,506 shares of the company’s stock valued at $194,755,000 after acquiring an additional 43,159 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Stellantis by 19.0% in the second quarter. Dimensional Fund Advisors LP now owns 8,925,189 shares of the company’s stock valued at $177,163,000 after acquiring an additional 1,425,814 shares in the last quarter. Hedge funds and other institutional investors own 59.48% of the company’s stock.

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.