Zurcher Kantonalbank Zurich Cantonalbank Sells 233,125 Shares of Stellantis (NYSE:STLA)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Stellantis (NYSE:STLA) by 11.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,747,607 shares of the company’s stock after selling 233,125 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Stellantis worth $22,783,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Ruffer LLP lifted its stake in shares of Stellantis by 64.7% during the 4th quarter. Ruffer LLP now owns 1,479,686 shares of the company’s stock valued at $19,285,000 after buying an additional 581,386 shares in the last quarter. Blankinship & Foster LLC bought a new stake in Stellantis during the fourth quarter valued at about $135,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Stellantis in the fourth quarter valued at about $1,241,000. Banco Santander S.A. boosted its stake in shares of Stellantis by 282.2% in the fourth quarter. Banco Santander S.A. now owns 7,258,025 shares of the company’s stock worth $94,717,000 after acquiring an additional 5,359,190 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Stellantis during the fourth quarter worth about $93,000. 59.48% of the stock is currently owned by institutional investors.

Stellantis Price Performance

Stellantis stock opened at $12.48 on Wednesday. Stellantis has a 52-week low of $11.40 and a 52-week high of $29.51. The company has a market cap of $37.71 billion, a price-to-earnings ratio of 3.66 and a beta of 1.64. The firm’s fifty day moving average is $13.09 and its 200 day moving average is $13.64. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on STLA. Cowen initiated coverage on Stellantis in a report on Thursday, March 6th. They issued a “hold” rating on the stock. TD Cowen started coverage on shares of Stellantis in a report on Friday, March 7th. They issued a “hold” rating and a $13.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Stellantis currently has an average rating of “Hold” and a consensus target price of $24.47.

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.