Sound Income Strategies LLC Acquires Shares of 141,504 Stellantis (NYSE:STLA)
Sound Income Strategies LLC purchased a new position in shares of Stellantis (NYSE:STLA – Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 141,504 shares of the company’s stock, valued at approximately $2,707,000.
Several other institutional investors have also modified their holdings of STLA. Spire Wealth Management boosted its stake in shares of Stellantis by 81.1% during the 2nd quarter. Spire Wealth Management now owns 2,680 shares of the company’s stock worth $47,000 after acquiring an additional 1,200 shares in the last quarter. Smithfield Trust Co boosted its stake in shares of Stellantis by 284,200.0% during the 1st quarter. Smithfield Trust Co now owns 2,843 shares of the company’s stock worth $51,000 after acquiring an additional 2,842 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Stellantis by 183.5% during the 4th quarter. Bessemer Group Inc. now owns 4,646 shares of the company’s stock worth $66,000 after acquiring an additional 3,007 shares in the last quarter. Ronald Blue Trust Inc. lifted its stake in Stellantis by 43.7% in the 3rd quarter. Ronald Blue Trust Inc. now owns 3,869 shares of the company’s stock valued at $68,000 after buying an additional 1,177 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in Stellantis by 42.9% in the 2nd quarter. Allworth Financial LP now owns 4,535 shares of the company’s stock valued at $80,000 after buying an additional 1,361 shares in the last quarter. Hedge funds and other institutional investors own 28.17% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. Wells Fargo & Company assumed coverage on Stellantis in a research note on Monday, December 11th. They issued an “underweight” rating on the stock. Sanford C. Bernstein raised Stellantis from a “market perform” rating to an “outperform” rating and upped their target price for the company from $18.50 to $26.40 in a research note on Wednesday, November 1st. Finally, Barclays initiated coverage on Stellantis in a report on Monday, October 16th. They issued an “overweight” rating for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $25.85.
Check Out Our Latest Report on Stellantis
Insider Buying and Selling
In other news, major shareholder N.V. Stellantis purchased 12,313,234 shares of the company’s stock in a transaction on Monday, October 16th. The shares were bought at an average price of $5.68 per share, for a total transaction of $69,939,169.12. Following the completion of the purchase, the insider now owns 31,048,137 shares of the company’s stock, valued at $176,353,418.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Stellantis Stock Down 0.4 %
NYSE:STLA traded down $0.10 on Tuesday, reaching $23.35. The stock had a trading volume of 1,734,987 shares, compared to its average volume of 5,626,857. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.03 and a current ratio of 1.29. The company has a 50-day moving average of $20.41 and a 200 day moving average of $19.01. Stellantis has a 12-month low of $13.71 and a 12-month high of $23.63.
Stellantis Profile (Free Report)
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 passenger vehicles; pickup trucks, sport utility vehicles, and commercial vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.
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Original: MarketBeat News Feed: Sound Income Strategies LLC Acquires Shares of 141,504 Stellantis (NYSE:STLA)