Fmr LLC Raises Stake in ChargePoint Holdings, Inc. (NYSE:CHPT)

Fmr LLC raised its stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 23.4% in the third quarter, Holdings Channel reports. The institutional investor owned 150,705 shares of the company’s stock after buying an additional 28,602 shares during the quarter. Fmr LLC’s holdings in ChargePoint were worth $206,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC grew its position in ChargePoint by 19.2% during the second quarter. SG Americas Securities LLC now owns 130,247 shares of the company’s stock worth $197,000 after buying an additional 21,007 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of ChargePoint by 60.1% during the second quarter. Bank of New York Mellon Corp now owns 1,298,289 shares of the company’s stock worth $1,960,000 after purchasing an additional 487,262 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of ChargePoint by 17.7% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 598,106 shares of the company’s stock worth $903,000 after purchasing an additional 89,817 shares during the last quarter. Principal Financial Group Inc. raised its stake in ChargePoint by 32.9% in the second quarter. Principal Financial Group Inc. now owns 46,042 shares of the company’s stock valued at $70,000 after purchasing an additional 11,389 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in ChargePoint by 39.6% during the second quarter. Commonwealth Equity Services LLC now owns 370,562 shares of the company’s stock valued at $560,000 after purchasing an additional 105,155 shares during the last quarter. 37.77% of the stock is currently owned by institutional investors.

ChargePoint Price Performance

NYSE CHPT opened at $1.24 on Friday. The business’s fifty day moving average is $1.23 and its 200 day moving average is $1.52. ChargePoint Holdings, Inc. has a fifty-two week low of $1.05 and a fifty-two week high of $2.68. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.32 and a current ratio of 1.94. The company has a market capitalization of $548.50 million, a PE ratio of -1.68 and a beta of 1.69.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Royal Bank of Canada cut their target price on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a research report on Thursday, December 5th. UBS Group cut their price objective on ChargePoint from $1.50 to $1.30 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a report on Thursday, December 5th. Evercore ISI cut their target price on ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Finally, Wolfe Research initiated coverage on shares of ChargePoint in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $2.46.

Insiders Place Their Bets

In other news, CAO Henrik Gerdes sold 26,288 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was 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 of the company’s stock, valued at $515,586.72. This represents a 6.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mansi Khetani sold 23,409 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $1.35, for a total value 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 trade represents a 2.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,803 shares of company stock worth $135,295. Corporate insiders own 3.50% of the company’s stock.

ChargePoint Company Profile

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.