ChargePoint Holdings, Inc. (NYSE:CHPT) Holdings Trimmed by Two Sigma Investments LP

Two Sigma Investments LP cut its holdings in ChargePoint Holdings, Inc. (NYSE:CHPT) by 85.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,294 shares of the company’s stock after selling 553,764 shares during the quarter. Two Sigma Investments LP’s holdings in ChargePoint were worth $99,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of ChargePoint by 2.3% in 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. Toronto Dominion Bank bought a new stake in ChargePoint during the fourth quarter worth approximately $8,746,000. Invesco Ltd. grew its position in ChargePoint by 13.1% in the fourth 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 last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of ChargePoint by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,336,545 shares of the company’s stock valued at $3,570,000 after buying an additional 85,516 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of ChargePoint by 13,605.0% during the 4th quarter. Millennium Management LLC now owns 2,857,349 shares of the company’s stock valued at $3,057,000 after acquiring an additional 2,836,500 shares during the last quarter. 37.77% of the stock is currently owned by institutional investors.

ChargePoint Price Performance

NYSE CHPT opened at $0.76 on Friday. 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 firm has a market capitalization of $350.43 million, a price-to-earnings ratio of -1.03 and a beta of 2.25. The company has a 50 day simple moving average of $0.66 and a 200-day simple moving average of $0.84. ChargePoint Holdings, Inc. has a 52-week low of $0.51 and a 52-week high of $2.44.

ChargePoint (NYSE:CHPT) last released its quarterly earnings data on Wednesday, June 4th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The company had revenue of $97.64 million during the quarter, compared to analyst estimates of $100.43 million. ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. During the same quarter in the prior year, the company posted ($0.11) EPS. Equities research analysts predict that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a report on Thursday, June 5th. The Goldman Sachs Group decreased their price target on ChargePoint from $0.75 to $0.50 and set a “sell” rating for the company in a research report on Thursday, April 10th. Royal Bank of Canada restated a “sector perform” rating and set a $1.00 price objective on shares of ChargePoint in a report on Thursday, June 5th. UBS Group decreased their target price on shares of ChargePoint from $0.70 to $0.65 and set a “neutral” rating for the company in a report on Thursday, April 17th. Finally, Stifel Nicolaus dropped their target price on shares of ChargePoint from $2.00 to $1.00 and set a “hold” rating on the stock in a research report on Monday, March 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $1.39.

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.