GSA Capital Partners LLP Buys Shares of 183,582 ChargePoint Holdings, Inc. (NYSE:CHPT)

GSA Capital Partners LLP acquired a new stake in ChargePoint Holdings, Inc. (NYSE:CHPT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 183,582 shares of the company’s stock, valued at approximately $252,000.

Other large investors have also made changes to their positions in the company. Point72 Asset Management L.P. acquired a new stake in shares of ChargePoint during the second quarter valued at $13,007,000. Sanctuary Advisors LLC acquired a new stake in shares of ChargePoint during the second quarter valued at $138,000. AQR Capital Management LLC acquired a new stake in shares of ChargePoint during the second quarter valued at $1,310,000. Vanguard Group Inc. boosted its stake in shares of ChargePoint by 26.3% during the first quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock valued at $69,708,000 after acquiring an additional 7,645,210 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of ChargePoint by 6.1% during the first quarter. Public Employees Retirement System of Ohio now owns 136,355 shares of the company’s stock valued at $259,000 after acquiring an additional 7,838 shares during the last quarter. Institutional investors and hedge funds own 37.77% of the company’s stock.

Insider Activity at ChargePoint

In other ChargePoint news, CEO Richard Wilmer sold 27,252 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 transaction of $36,790.20. Following the completion of the sale, the chief executive officer now owns 2,304,489 shares in the company, valued at $3,111,060.15. This trade represents a 1.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mansi Khetani sold 23,409 shares of the firm’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 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 2.68 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,803 shares of company stock worth $135,295. 3.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CHPT. Needham & Company LLC lowered ChargePoint from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Capital One Financial raised ChargePoint to a “strong-buy” rating in a research note on Tuesday, September 17th. Royal Bank of Canada decreased their price target on ChargePoint from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research note on Thursday, September 5th. Evercore ISI decreased their price target on ChargePoint from $6.00 to $4.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Finally, Wolfe Research began coverage on ChargePoint in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.47.

ChargePoint Stock Performance

ChargePoint stock opened at $1.15 on Friday. The stock’s 50-day moving average is $1.29 and its 200-day moving average is $1.59. The company has a market cap of $496.32 million, a price-to-earnings ratio of -1.16 and a beta of 1.70. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.32. ChargePoint Holdings, Inc. has a 12 month low of $1.05 and a 12 month high of $3.13.

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

About ChargePoint

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.