Farther Finance Advisors LLC Buys 8,842 Shares of Stellantis (NYSE:STLA)

Farther Finance Advisors LLC boosted its stake in shares of Stellantis (NYSE:STLA) by 149.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,767 shares of the company’s stock after acquiring an additional 8,842 shares during the period. Farther Finance Advisors LLC’s holdings in Stellantis were worth $294,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its holdings in Stellantis by 6.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 39,657 shares of the company’s stock valued at $787,000 after buying an additional 2,470 shares during the period. Concurrent Investment Advisors LLC acquired a new position in Stellantis during the second quarter valued at approximately $1,234,000. Rothschild Investment LLC bought a new stake in Stellantis during the second quarter worth $25,000. Forum Financial Management LP boosted its holdings in shares of Stellantis by 65.2% in the 2nd quarter. Forum Financial Management LP now owns 24,042 shares of the company’s stock valued at $477,000 after purchasing an additional 9,490 shares in the last quarter. Finally, Empirical Finance LLC increased its stake in shares of Stellantis by 128.8% in the 2nd quarter. Empirical Finance LLC now owns 33,046 shares of the company’s stock valued at $656,000 after purchasing an additional 18,605 shares during the last quarter. 59.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut Stellantis from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Sanford C. Bernstein initiated coverage on shares of Stellantis in a research note on Friday, June 28th. They issued a “market perform” rating and a $23.50 price objective for the company. Nomura Securities raised shares of Stellantis from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 31st. Barclays upgraded shares of Stellantis to a “strong-buy” rating in a report on Monday, June 17th. Finally, Jefferies Financial Group restated a “hold” rating and set a $16.44 price objective (down previously from $27.30) on shares of Stellantis in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Stellantis presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.34.

Insiders Place Their Bets

In related news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the purchase, the insider now owns 59,734,962 shares in the company, valued at approximately $200,112,122.70. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.02% of the company’s stock.

Stellantis Stock Performance

Shares of NYSE:STLA opened at $15.83 on Friday. 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 52 week low of $15.11 and a 52 week high of $29.51. The firm’s fifty day moving average is $17.70 and its 200-day moving average is $22.16.

About Stellantis

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.