ChargePoint Holdings, Inc. (NYSE:CHPT) Shares Bought by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. grew its stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 227,090 shares of the company’s stock after purchasing an additional 17,085 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in ChargePoint were worth $531,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CHPT. Vanguard Group Inc. increased its position in shares of ChargePoint by 12.9% during the third quarter. Vanguard Group Inc. now owns 29,162,249 shares of the company’s stock worth $144,936,000 after acquiring an additional 3,325,694 shares during the last quarter. Amundi increased its position in shares of ChargePoint by 3,169.2% during the fourth quarter. Amundi now owns 2,680,629 shares of the company’s stock worth $25,915,000 after acquiring an additional 2,598,633 shares during the last quarter. Norges Bank purchased a new stake in shares of ChargePoint during the fourth quarter worth about $24,709,000. BlackRock Inc. increased its position in shares of ChargePoint by 28.8% during the third quarter. BlackRock Inc. now owns 10,484,565 shares of the company’s stock worth $154,754,000 after acquiring an additional 2,345,089 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of ChargePoint by 418.2% during the third quarter. Wellington Management Group LLP now owns 2,522,247 shares of the company’s stock worth $12,536,000 after acquiring an additional 2,035,496 shares during the last quarter. 37.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CHPT has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research report on Thursday, April 4th. Benchmark reissued a “buy” rating and issued a $4.25 price objective on shares of ChargePoint in a report on Wednesday, March 6th. DA Davidson reissued a “buy” rating and issued a $4.00 price objective on shares of ChargePoint in a report on Wednesday, March 6th. The Goldman Sachs Group reissued a “sell” rating and issued a $1.50 price objective (down from $2.00) on shares of ChargePoint in a report on Tuesday, April 9th. Finally, R. F. Lafferty lowered their price objective on ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. According to MarketBeat, ChargePoint has an average rating of “Hold” and an average price target of $6.14.

Insiders Place Their Bets

In other ChargePoint news, CFO Mansi Khetani sold 19,035 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $35,595.45. Following the completion of the sale, the chief financial officer now directly owns 421,500 shares in the company, valued at $788,205. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ChargePoint news, CFO Mansi Khetani sold 19,035 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $35,595.45. Following the completion of the sale, the chief financial officer now directly owns 421,500 shares in the company, valued at $788,205. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Linse sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $1.94, for a total value of $194,000.00. Following the completion of the sale, the director now owns 1,209,867 shares of the company’s stock, valued at $2,347,141.98. The disclosure for this sale can be found here. Insiders sold 154,846 shares of company stock worth $296,562 over the last ninety days. Company insiders own 12.90% of the company’s stock.

ChargePoint Stock Performance

Shares of NYSE CHPT opened at $1.39 on Friday. The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.87. The stock has a 50 day simple moving average of $1.87 and a 200-day simple moving average of $2.31. The company has a market cap of $578.97 million, a PE ratio of -1.12 and a beta of 1.62. ChargePoint Holdings, Inc. has a 12-month low of $1.34 and a 12-month high of $10.10.

ChargePoint (NYSE:CHPT) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.01. The business had revenue of $115.83 million during the quarter, compared to the consensus estimate of $126.48 million. ChargePoint had a negative return on equity of 125.19% and a negative net margin of 90.32%. On average, equities research analysts forecast that ChargePoint Holdings, Inc. will post -0.63 EPS for the current year.

About ChargePoint

ChargePoint Holdings, Inc, together with its subsidiaries, 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. ChargePoint Holdings, Inc was founded in 2007 and is headquartered in Campbell, California.