3,584 Shares in ChargePoint Holdings, Inc. (NYSE:CHPT) Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC bought a new position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT – Get Rating) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 3,584 shares of the company’s stock, valued at approximately $52,000.

A number of other hedge funds have also made changes to their positions in CHPT. Vanguard Group Inc. increased its position in ChargePoint by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 19,535,016 shares of the company’s stock valued at $388,355,000 after acquiring an additional 407,505 shares in the last quarter. Baillie Gifford & Co. increased its position in ChargePoint by 25.6% in the 3rd quarter. Baillie Gifford & Co. now owns 5,755,451 shares of the company’s stock valued at $84,951,000 after acquiring an additional 1,173,533 shares in the last quarter. State Street Corp increased its position in ChargePoint by 9.8% in the 1st quarter. State Street Corp now owns 3,347,564 shares of the company’s stock valued at $66,550,000 after acquiring an additional 298,070 shares in the last quarter. Neuberger Berman Group LLC increased its position in ChargePoint by 91.1% in the 1st quarter. Neuberger Berman Group LLC now owns 2,035,275 shares of the company’s stock valued at $40,461,000 after acquiring an additional 970,212 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in ChargePoint by 97.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,929,300 shares of the company’s stock valued at $28,476,000 after acquiring an additional 954,453 shares in the last quarter. Institutional investors and hedge funds own 44.87% of the company’s stock.

ChargePoint Price Performance

NYSE CHPT opened at $10.27 on Wednesday. The company has a quick ratio of 2.43, a current ratio of 2.69 and a debt-to-equity ratio of 0.87. ChargePoint Holdings, Inc. has a 12-month low of $8.07 and a 12-month high of $20.99. The company has a market capitalization of $3.51 billion, a PE ratio of -9.97 and a beta of 1.72. The firm’s 50 day moving average is $11.19 and its 200-day moving average is $12.65.

Insider Activity

In other ChargePoint news, major shareholder Q-Grg Vii (Cp) Investment Part acquired 1,422,121 shares of the stock in a transaction dated Tuesday, December 27th. The shares were bought at an average cost of $8.29 per share, for a total transaction of $11,789,383.09. Following the completion of the acquisition, the insider now directly owns 24,742,872 shares of the company’s stock, valued at $205,118,408.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Q-Grg Vii (Cp) Investment Part bought 1,422,121 shares of the stock in a transaction that occurred on Tuesday, December 27th. The shares were acquired at an average cost of $8.29 per share, for a total transaction of $11,789,383.09. Following the completion of the acquisition, the insider now owns 24,742,872 shares in the company, valued at $205,118,408.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William J. Loewenthal sold 3,115 shares of the business’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $10.94, for a total transaction of $34,078.10. Following the transaction, the insider now owns 435,943 shares in the company, valued at $4,769,216.42. The disclosure for this sale can be found here. Insiders have sold 733,506 shares of company stock worth $7,318,633 over the last ninety days. Insiders own 23.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Citigroup lowered their price objective on shares of ChargePoint from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday. Cowen reduced their target price on shares of ChargePoint to $20.00 in a research note on Monday, November 28th. Janney Montgomery Scott initiated coverage on shares of ChargePoint in a research note on Friday, February 24th. They issued a “buy” rating on the stock. Oppenheimer reduced their target price on shares of ChargePoint from $40.00 to $26.00 in a research note on Friday, December 2nd. Finally, Piper Sandler reduced their target price on shares of ChargePoint from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, December 22nd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, ChargePoint currently has an average rating of “Moderate Buy” and a consensus price target of $19.28.

ChargePoint Profile

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ChargePoint Holdings, Inc provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. The company was founded in 2007 and is headquartered in Campbell, California.