ChargePoint Holdings, Inc. (NYSE:CHPT) Shares Acquired by Creative Planning

Creative Planning raised its holdings in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 8.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 205,008 shares of the company’s stock after buying an additional 16,645 shares during the period. Creative Planning’s holdings in ChargePoint were worth $281,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CHPT. Point72 Asset Management L.P. bought a new stake in ChargePoint during the second quarter worth approximately $13,007,000. Vanguard Group Inc. boosted its holdings in ChargePoint by 26.3% during the first quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock worth $69,708,000 after buying an additional 7,645,210 shares in the last quarter. AQR Capital Management LLC bought a new stake in ChargePoint during the second quarter worth approximately $1,310,000. Skandinaviska Enskilda Banken AB publ boosted its stake in ChargePoint by 62.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,623,836 shares of the company’s stock worth $2,452,000 after purchasing an additional 621,536 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in ChargePoint by 60.1% in the 2nd 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 during the period. 37.77% of the stock is currently owned by institutional investors.

ChargePoint Stock Performance

Shares of CHPT opened at $1.13 on Friday. The company has a market capitalization of $487.69 million, a PE ratio of -1.14 and a beta of 1.70. ChargePoint Holdings, Inc. has a one year low of $1.12 and a one year high of $3.54. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.32. The company’s fifty day moving average price is $1.36 and its 200 day moving average price is $1.61.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on CHPT. Needham & Company LLC decreased their price objective on shares of ChargePoint from $3.00 to $2.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. UBS Group decreased their price objective on shares of ChargePoint from $1.80 to $1.50 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. JPMorgan Chase & Co. lowered shares of ChargePoint from an “overweight” rating to an “underweight” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group decreased their price objective on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a research note on Friday, September 6th. Finally, Wolfe Research started coverage on shares of ChargePoint in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.61.

Insider Buying and Selling

In related news, CAO Henrik Gerdes sold 26,288 shares of ChargePoint 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 transaction, the chief accounting officer now owns 390,596 shares in the company, valued at $515,586.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other ChargePoint news, CAO Henrik Gerdes sold 26,288 shares of the firm’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 sale, the chief accounting officer now directly owns 390,596 shares in the company, valued at $515,586.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mansi Khetani sold 23,409 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $31,602.15. Following the completion of the sale, the chief financial officer now owns 849,084 shares in the company, valued at $1,146,263.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,803 shares of company stock worth $135,295 in the last quarter. 3.50% of the stock is currently owned by company insiders.

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.