Raymond James Financial Inc. Acquires New Holdings in ChargePoint Holdings, Inc. (NYSE:CHPT)

Raymond James Financial Inc. bought a new position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 331,085 shares of the company’s stock, valued at approximately $354,000. Raymond James Financial Inc. owned 0.07% of ChargePoint as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Strategic Investment Advisors MI purchased a new stake in ChargePoint in the fourth quarter valued at about $46,000. Jones Financial Companies Lllp grew its position in ChargePoint by 61.1% during the 4th quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company’s stock worth $48,000 after purchasing an additional 17,075 shares during the last quarter. Jeppson Wealth Management LLC increased its stake in ChargePoint by 32.8% during the 4th quarter. Jeppson Wealth Management LLC now owns 57,025 shares of the company’s stock valued at $61,000 after purchasing an additional 14,085 shares in the last quarter. NCP Inc. raised its holdings in shares of ChargePoint by 210.9% in the fourth quarter. NCP Inc. now owns 62,500 shares of the company’s stock worth $67,000 after buying an additional 42,400 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its stake in shares of ChargePoint by 144.7% during the third quarter. Integrated Wealth Concepts LLC now owns 50,170 shares of the company’s stock worth $69,000 after buying an additional 29,669 shares during the period. Institutional investors own 37.77% of the company’s stock.

ChargePoint Stock Performance

Shares of NYSE CHPT opened at $0.60 on Thursday. ChargePoint Holdings, Inc. has a 1 year low of $0.51 and a 1 year high of $2.44. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.24 and a current ratio of 1.94. The company’s fifty day moving average price is $0.70 and its 200 day moving average price is $1.03. The company has a market capitalization of $273.09 million, a PE ratio of -0.81 and a beta of 2.05.

ChargePoint (NYSE:CHPT) last posted its earnings results on Tuesday, March 4th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The business had revenue of $101.89 million for the quarter, compared to analyst estimates of $100.99 million. ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. On average, research analysts predict that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CHPT shares. The Goldman Sachs Group reduced their target price on ChargePoint from $1.00 to $0.75 and set a “sell” rating for the company in a research note on Thursday, February 20th. Evercore ISI downgraded ChargePoint from an “outperform” rating to an “in-line” rating and decreased their target price for the stock from $4.00 to $1.00 in a report on Monday, March 31st. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a research report on Wednesday, March 5th. UBS Group set a $1.50 price target on shares of ChargePoint in a research report on Wednesday, March 5th. Finally, Stifel Nicolaus cut their price objective on shares of ChargePoint from $2.00 to $1.00 and set a “hold” rating on the stock in a research note on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $1.66.

About ChargePoint

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.