Ethic Inc. Takes $32,000 Position in ChargePoint Holdings, Inc. $CHPT

Ethic Inc. bought a new position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 43,711 shares of the company’s stock, valued at approximately $32,000. Ethic Inc. owned approximately 0.19% of ChargePoint as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CHPT. AQR Capital Management LLC increased its position in shares of ChargePoint by 6,429.1% in the first quarter. AQR Capital Management LLC now owns 2,679,217 shares of the company’s stock worth $1,553,000 after acquiring an additional 2,638,182 shares in the last quarter. GMT Capital Corp purchased a new stake in ChargePoint during the 1st quarter worth $1,226,000. Goldman Sachs Group Inc. increased its holdings in ChargePoint by 61.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,790,823 shares of the company’s stock valued at $2,293,000 after purchasing an additional 1,448,114 shares in the last quarter. Nuveen LLC purchased a new position in ChargePoint in the first quarter valued at about $759,000. Finally, GSA Capital Partners LLP lifted its stake in shares of ChargePoint by 867.7% during the first quarter. GSA Capital Partners LLP now owns 1,305,569 shares of the company’s stock worth $790,000 after purchasing an additional 1,170,650 shares in the last quarter. 37.77% of the stock is owned by institutional investors and hedge funds.

ChargePoint Stock Up 2.8%

CHPT stock opened at $10.76 on Friday. The firm has a market cap of $251.32 million, a price-to-earnings ratio of -0.92 and a beta of 2.56. ChargePoint Holdings, Inc. has a 1-year low of $8.55 and a 1-year high of $30.00. The firm has a fifty day moving average price of $11.07 and a two-hundred day moving average price of $12.31. The company has a debt-to-equity ratio of 4.38, a current ratio of 1.67 and a quick ratio of 1.00.

Insider Buying and Selling at ChargePoint

In related news, insider John David Vice sold 2,363 shares of the stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $11.27, for a total transaction of $26,631.01. Following the sale, the insider owned 123,615 shares in the company, valued at $1,393,141.05. This represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have sold 7,426 shares of company stock worth $83,691. 3.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. TD Cowen lowered their target price on ChargePoint from $30.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, September 4th. Roth Capital set a $11.00 price objective on shares of ChargePoint and gave the company a “neutral” rating in a research report on Tuesday, September 2nd. Benchmark dropped their price objective on shares of ChargePoint from $40.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Weiss Ratings restated a “sell (e+)” rating on shares of ChargePoint in a research note on Wednesday, October 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a report on Thursday, September 4th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $13.56.

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.