ChargePoint Holdings, Inc. (NYSE:CHPT) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers reduced its position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 34.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,801 shares of the company’s stock after selling 46,708 shares during the period. Cetera Investment Advisers’ holdings in ChargePoint were worth $96,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of ChargePoint by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 9,276,632 shares of the company’s stock worth $9,929,000 after purchasing an additional 204,464 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of ChargePoint by 13.1% during the 4th quarter. Invesco Ltd. now owns 5,029,849 shares of the company’s stock worth $5,382,000 after acquiring an additional 583,761 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings 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 period. Bank of New York Mellon Corp lifted its holdings in shares of ChargePoint by 12.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,231,255 shares of the company’s stock worth $1,317,000 after acquiring an additional 141,053 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of ChargePoint by 20.6% during the 4th quarter. Bank of America Corp DE now owns 845,590 shares of the company’s stock worth $905,000 after acquiring an additional 144,390 shares during the period. 37.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CHPT shares. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a report on Wednesday, March 5th. UBS Group cut their price objective on shares of ChargePoint from $0.70 to $0.65 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Evercore ISI downgraded shares of ChargePoint from an “outperform” rating to an “in-line” rating and dropped their target price for the stock from $4.00 to $1.00 in a research report on Monday, March 31st. Stifel Nicolaus dropped their target price 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. Finally, The Goldman Sachs Group dropped their target price on shares of ChargePoint from $0.75 to $0.50 and set a “sell” rating for the company in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $1.52.

ChargePoint Stock Down 0.8%

Shares of NYSE:CHPT opened at $0.69 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 1.65. ChargePoint Holdings, Inc. has a 52-week low of $0.51 and a 52-week high of $2.44. The company has a 50 day moving average of $0.64 and a two-hundred day moving average of $0.85. The company has a market capitalization of $316.16 million, a price-to-earnings ratio of -0.93 and a beta of 2.22.

ChargePoint (NYSE:CHPT) last released its earnings results on Tuesday, March 4th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The business had revenue of $101.89 million for 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 forecast that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current fiscal year.

ChargePoint Company 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.