International Assets Investment Management LLC Acquires 14,963 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

International Assets Investment Management LLC lifted its position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 32.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,403 shares of the company’s stock after buying an additional 14,963 shares during the quarter. International Assets Investment Management LLC’s holdings in ChargePoint were worth $830,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Krane Funds Advisors LLC bought a new position in ChargePoint in the third quarter worth about $324,000. Creative Planning boosted its position in ChargePoint by 8.8% in the third quarter. Creative Planning now owns 205,008 shares of the company’s stock valued at $281,000 after buying an additional 16,645 shares during the last quarter. Inspire Investing LLC acquired a new stake in shares of ChargePoint in the third quarter worth $412,000. Sanctuary Advisors LLC purchased a new stake in ChargePoint during the second quarter worth $138,000. Finally, Point72 Asset Management L.P. acquired a new stake in ChargePoint in the 2nd quarter valued at $13,007,000. 37.77% of the stock is currently owned by institutional investors.

ChargePoint Stock Performance

ChargePoint stock opened at $1.33 on Tuesday. The firm has a market capitalization of $574.00 million, a P/E ratio of -1.34 and a beta of 1.70. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 1.24. The stock has a fifty day moving average price of $1.40 and a 200 day moving average price of $1.62. ChargePoint Holdings, Inc. has a 52 week low of $1.20 and a 52 week high of $3.54.

ChargePoint (NYSE:CHPT) last posted its earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.15). ChargePoint had a negative return on equity of 112.67% and a negative net margin of 89.12%. The business had revenue of $108.54 million during the quarter, compared to analyst estimates of $114.15 million. Equities research analysts anticipate that ChargePoint Holdings, Inc. will post -0.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Mansi Khetani sold 23,409 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $31,602.15. Following the sale, the chief financial officer now owns 849,084 shares of the company’s stock, valued at approximately $1,146,263.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Richard Wilmer sold 27,252 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $36,790.20. Following the sale, the chief executive officer now directly owns 2,304,489 shares of the company’s stock, valued at $3,111,060.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mansi Khetani sold 23,409 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $1.35, for a total transaction of $31,602.15. Following the completion of the sale, the chief financial officer now owns 849,084 shares of the company’s stock, valued at approximately $1,146,263.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,803 shares of company stock valued at $135,295 in the last quarter. Insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

CHPT has been the subject of several analyst reports. Wolfe Research started coverage on ChargePoint in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Needham & Company LLC decreased their target price on ChargePoint from $3.00 to $2.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. TD Cowen lowered ChargePoint from a “buy” rating to a “hold” rating and cut their price target for the stock from $3.00 to $2.00 in a research report on Thursday, September 5th. JPMorgan Chase & Co. lowered ChargePoint from an “overweight” rating to an “underweight” rating in a report on Thursday, October 3rd. Finally, Royal Bank of Canada dropped their price objective on ChargePoint from $3.00 to $2.50 and set a “sector perform” rating on the stock in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ChargePoint presently has a consensus rating of “Hold” and a consensus target price of $2.61.

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.