Strategic Investment Advisors MI Makes New Investment in ChargePoint Holdings, Inc. (NYSE:CHPT)

Strategic Investment Advisors MI bought a new stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 42,680 shares of the company’s stock, valued at approximately $46,000.

A number of other hedge funds have also made changes to their positions in CHPT. State Street Corp lifted its holdings in ChargePoint by 1.4% during the 3rd quarter. State Street Corp now owns 10,297,421 shares of the company’s stock worth $14,107,000 after buying an additional 142,767 shares during the last quarter. Geode Capital Management LLC lifted its stake in ChargePoint by 4.6% during the third quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company’s stock worth $12,432,000 after purchasing an additional 399,070 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in ChargePoint in the second quarter worth $13,007,000. Charles Schwab Investment Management Inc. increased its stake in ChargePoint by 7.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,251,029 shares of the company’s stock valued at $4,454,000 after purchasing an additional 219,426 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of ChargePoint by 15.5% during the third quarter. Stifel Financial Corp now owns 2,055,211 shares of the company’s stock worth $2,816,000 after purchasing an additional 275,653 shares during the period. Institutional investors and hedge funds own 37.77% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jagdeep Ca Singh sold 36,574 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total value of $41,694.36. Following the sale, the insider now directly owns 1,161,430 shares in the company, valued at $1,324,030.20. The trade was a 3.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mansi Khetani sold 22,038 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $25,123.32. Following the sale, the chief financial officer now owns 1,230,305 shares of the company’s stock, valued at $1,402,547.70. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,148 shares of company stock worth $99,349 over the last ninety days. Company insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and set a $3.00 price objective on shares of ChargePoint in a research report on Wednesday, November 20th. Stifel Nicolaus lowered 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. Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a report on Thursday, December 5th. JPMorgan Chase & Co. downgraded ChargePoint from an “overweight” rating to an “underweight” rating in a research note on Thursday, October 3rd. Finally, UBS Group cut their target price on ChargePoint from $1.50 to $1.30 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ChargePoint currently has a consensus rating of “Hold” and an average price target of $2.46.

ChargePoint Trading Down 3.8 %

ChargePoint stock opened at $0.96 on Tuesday. ChargePoint Holdings, Inc. has a 12-month low of $0.92 and a 12-month high of $2.44. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.24. The stock has a market capitalization of $425.53 million, a PE ratio of -1.30 and a beta of 1.70. The firm has a 50 day simple moving average of $1.14 and a 200-day simple moving average of $1.42.

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.