Vanguard Group Inc. Reduces Holdings in ChargePoint Holdings, Inc. (NYSE:CHPT)

Vanguard Group Inc. lowered its position in ChargePoint Holdings, Inc. (NYSE:CHPT) by 18.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,942,091 shares of the company’s stock after selling 7,226,962 shares during the quarter. Vanguard Group Inc. owned about 7.00% of ChargePoint worth $33,108,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its position in ChargePoint by 1.4% in the 3rd quarter. State Street Corp now owns 10,297,421 shares of the company’s stock worth $14,107,000 after purchasing an additional 142,767 shares during the period. Geode Capital Management LLC raised its holdings in shares of ChargePoint by 4.6% in the third quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company’s stock worth $12,432,000 after buying an additional 399,070 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of ChargePoint by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,336,545 shares of the company’s stock worth $3,570,000 after acquiring an additional 85,516 shares during the last quarter. Stifel Financial Corp boosted its holdings in ChargePoint by 15.5% during the 3rd quarter. Stifel Financial Corp now owns 2,055,211 shares of the company’s stock valued at $2,816,000 after acquiring an additional 275,653 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in ChargePoint by 5.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,722,181 shares of the company’s stock valued at $2,359,000 after acquiring an additional 89,234 shares during the last quarter. Institutional investors own 37.77% of the company’s stock.

Wall Street Analyst Weigh In

CHPT has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their target price on shares of ChargePoint from $0.75 to $0.50 and set a “sell” rating for the company in a research note on Thursday. Stifel Nicolaus lowered their price objective on shares of ChargePoint from $2.00 to $1.00 and set a “hold” rating for the company in a research report on Monday, March 10th. Evercore ISI lowered shares of ChargePoint from an “outperform” rating to an “in-line” rating and reduced their target price for the stock from $4.00 to $1.00 in a research report on Monday, March 31st. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a report on Wednesday, March 5th. Finally, UBS Group set a $1.50 price objective on ChargePoint in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ChargePoint has a consensus rating of “Hold” and an average target price of $1.63.

ChargePoint Stock Up 1.9 %

Shares of NYSE CHPT opened at $0.60 on Monday. The stock has a market capitalization of $273.55 million, a PE ratio of -0.81 and a beta of 2.05. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65. ChargePoint Holdings, Inc. has a 12-month low of $0.51 and a 12-month high of $2.44. The stock’s fifty day simple moving average is $0.68 and its two-hundred day simple moving average is $1.01.

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

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.