Charles Schwab Investment Management Inc. Has $4.45 Million Stake in ChargePoint Holdings, Inc. (NYSE:CHPT)

Charles Schwab Investment Management Inc. increased its holdings in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 7.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,251,029 shares of the company’s stock after purchasing an additional 219,426 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in ChargePoint were worth $4,454,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Point72 Asset Management L.P. bought a new stake in ChargePoint in the second quarter valued at approximately $13,007,000. Sanctuary Advisors LLC bought a new stake in shares of ChargePoint during the second quarter worth $138,000. AQR Capital Management LLC bought a new stake in shares of ChargePoint during the second quarter worth $1,310,000. Creative Planning increased its position in shares of ChargePoint by 8.8% during the third quarter. Creative Planning now owns 205,008 shares of the company’s stock worth $281,000 after acquiring an additional 16,645 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its position in shares of ChargePoint by 62.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,623,836 shares of the company’s stock worth $2,452,000 after acquiring an additional 621,536 shares in the last quarter. 37.77% of the stock is owned by institutional investors.

ChargePoint Price Performance

CHPT stock opened at $1.15 on Friday. The firm has a market cap of $496.32 million, a P/E ratio of -1.55 and a beta of 1.69. The company has a quick ratio of 1.32, a current ratio of 1.94 and a debt-to-equity ratio of 1.65. The company’s 50-day moving average price is $1.25 and its two-hundred day moving average price is $1.54. ChargePoint Holdings, Inc. has a 12 month low of $1.05 and a 12 month high of $3.13.

Insider Activity at ChargePoint

In related news, CAO Henrik Gerdes sold 26,288 shares of ChargePoint stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $1.32, for a total transaction of $34,700.16. Following the sale, the chief accounting officer now directly owns 390,596 shares in the company, valued at $515,586.72. This trade represents a 6.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mansi Khetani sold 23,409 shares of ChargePoint stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $31,602.15. Following the sale, the chief financial officer now owns 849,084 shares in the company, valued at approximately $1,146,263.40. This represents a 2.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,803 shares of company stock valued at $135,295. 3.50% of the stock is owned by insiders.

Analysts Set New Price Targets

CHPT has been the subject of several recent research reports. Benchmark restated a “buy” rating and set a $3.00 target price on shares of ChargePoint in a report on Wednesday, November 20th. Royal Bank of Canada cut their price target on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a research note on Thursday, December 5th. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a research note on Thursday, December 5th. UBS Group cut their target price on shares of ChargePoint from $1.50 to $1.30 and set a “neutral” rating for the company in a research note on Tuesday. Finally, The Goldman Sachs Group cut their target price on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $2.46.

About ChargePoint

ChargePoint Holdings, Inc, together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in the North America and Europe. The company serves commercial, such as retail, workplace, hospitality, parking, recreation, municipal, education, and highway fast charge; fleet, which include delivery, take home, logistics, motor pool, transit, and shared mobility; and residential including single family homes and multi-family apartments and condominiums customers.