ProShare Advisors LLC Buys 38,094 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

ProShare Advisors LLC raised its stake in ChargePoint Holdings, Inc. (NYSE:CHPT) by 51.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,447 shares of the company’s stock after acquiring an additional 38,094 shares during the quarter. ProShare Advisors LLC’s holdings in ChargePoint were worth $119,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp increased its stake in shares of ChargePoint by 61.1% during the fourth 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 period. MetLife Investment Management LLC grew its holdings in ChargePoint by 9.8% in the 4th quarter. MetLife Investment Management LLC now owns 251,168 shares of the company’s stock valued at $269,000 after buying an additional 22,369 shares in the last quarter. Raymond James Financial Inc. bought a new position in ChargePoint during the 4th quarter worth $354,000. Invesco Ltd. increased its position in 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 buying an additional 583,761 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in shares of ChargePoint during the fourth quarter worth $268,000. 37.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on CHPT. Evercore ISI downgraded shares of ChargePoint from an “outperform” rating to an “in-line” rating and decreased their price target for the company from $4.00 to $1.00 in a research note on Monday, March 31st. The Goldman Sachs Group decreased their target price on shares of ChargePoint from $0.75 to $0.50 and set a “sell” rating on the stock in a research report on Thursday, April 10th. UBS Group dropped their price target on shares of ChargePoint from $0.70 to $0.65 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a research note on Wednesday, March 5th. Finally, Stifel Nicolaus lowered their price objective on 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 issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ChargePoint presently has a consensus rating of “Hold” and a consensus price target of $1.52.

ChargePoint Stock Down 0.8%

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

ChargePoint (NYSE:CHPT) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. The business had revenue of $101.89 million for the quarter, compared to the consensus estimate of $100.99 million. Equities analysts expect 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.