1,875,733 Shares in ChargePoint Holdings, Inc. (NYSE:CHPT) Purchased by Erste Asset Management GmbH

Erste Asset Management GmbH purchased a new stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,875,733 shares of the company’s stock, valued at approximately $2,570,000. Erste Asset Management GmbH owned 0.43% of ChargePoint at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of ChargePoint by 26.3% in the 1st quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock worth $69,708,000 after purchasing an additional 7,645,210 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in ChargePoint by 53.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 183,436 shares of the company’s stock worth $349,000 after acquiring an additional 63,851 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of ChargePoint by 6.1% in the first quarter. Public Employees Retirement System of Ohio now owns 136,355 shares of the company’s stock worth $259,000 after acquiring an additional 7,838 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of ChargePoint by 15.7% during the first quarter. California State Teachers Retirement System now owns 374,395 shares of the company’s stock valued at $711,000 after acquiring an additional 50,857 shares in the last quarter. Finally, Tidal Investments LLC raised its position in shares of ChargePoint by 58.8% in the 1st quarter. Tidal Investments LLC now owns 333,866 shares of the company’s stock worth $634,000 after purchasing an additional 123,597 shares during the last quarter. Institutional investors own 37.77% of the company’s stock.

ChargePoint Stock Down 3.7 %

CHPT opened at $1.18 on Tuesday. ChargePoint Holdings, Inc. has a 1-year low of $1.05 and a 1-year high of $3.13. The firm’s 50 day simple moving average is $1.27 and its two-hundred day simple moving average is $1.57. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 1.24.

ChargePoint (NYSE:CHPT) last released its earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share for the quarter, meeting the consensus estimate of ($0.15). The company had revenue of $108.54 million for the quarter, compared to the consensus estimate of $114.15 million. ChargePoint had a negative return on equity of 112.67% and a negative net margin of 89.12%. As a group, equities research analysts expect that ChargePoint Holdings, Inc. will post -0.56 EPS for the current year.

Insider Buying and Selling

In related news, CAO Henrik Gerdes sold 26,288 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $1.32, for a total value of $34,700.16. Following the completion of the transaction, the chief accounting officer now owns 390,596 shares of the company’s stock, valued at approximately $515,586.72. This represents a 6.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mansi Khetani sold 23,409 shares of the firm’s stock in a transaction dated 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 directly 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 ninety days, insiders sold 100,803 shares of company stock valued at $135,295. 3.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CHPT shares. TD Cowen lowered shares of ChargePoint from a “buy” rating to a “hold” rating and reduced their price objective for the company from $3.00 to $2.00 in a research note on Thursday, September 5th. JPMorgan Chase & Co. downgraded shares of ChargePoint from an “overweight” rating to an “underweight” rating in a research report on Thursday, October 3rd. Evercore ISI lowered their price objective on ChargePoint from $6.00 to $4.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Stifel Nicolaus reduced their target price on ChargePoint from $3.00 to $2.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Finally, Needham & Company LLC downgraded ChargePoint from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $2.47.

ChargePoint 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.