Acadian Asset Management LLC Sells 23,116,107 Shares of Stellantis (NYSE:STLA)

Acadian Asset Management LLC reduced its holdings in Stellantis (NYSE:STLA) by 97.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 523,973 shares of the company’s stock after selling 23,116,107 shares during the quarter. Acadian Asset Management LLC’s holdings in Stellantis were worth $10,366,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Stellantis by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 83,818,351 shares of the company’s stock valued at $2,372,059,000 after acquiring an additional 972,232 shares in the last quarter. Norges Bank acquired a new position in shares of Stellantis during the fourth quarter worth approximately $832,785,000. Capital International Investors grew its stake in shares of Stellantis by 329.3% during the first quarter. Capital International Investors now owns 22,503,781 shares of the company’s stock valued at $639,609,000 after purchasing an additional 17,261,955 shares during the last quarter. Capital World Investors increased its holdings 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 purchasing an additional 5,336,868 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Stellantis by 5.0% in the 1st quarter. Bank of New York Mellon Corp now owns 11,532,856 shares of the company’s stock worth $326,380,000 after purchasing an additional 548,929 shares during the last quarter. 59.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder N.V. Stellantis acquired 2,982,089 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average price of $3.35 per share, for a total transaction of $9,989,998.15. Following the transaction, the insider now directly owns 59,734,962 shares in the company, valued at $200,112,122.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.02% of the company’s stock.

Stellantis Stock Down 2.6 %

Shares of NYSE:STLA opened at $15.15 on Wednesday. The firm’s 50 day simple moving average is $17.43 and its 200 day simple moving average is $21.88. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. Stellantis has a fifty-two week low of $14.91 and a fifty-two week high of $29.51.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Jefferies Financial Group reissued a “hold” rating and issued a $16.44 target price (down from $27.30) on shares of Stellantis in a research note on Wednesday, August 7th. Sanford C. Bernstein began coverage on Stellantis in a research report on Friday, June 28th. They issued a “market perform” rating and a $23.50 price objective for the company. Deutsche Bank Aktiengesellschaft cut Stellantis from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Nomura Securities raised shares of Stellantis from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, Barclays raised shares of Stellantis to a “strong-buy” rating in a research note on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Stellantis has an average rating of “Moderate Buy” and a consensus price target of $27.34.

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.