ChargePoint Holdings, Inc. (NYSE:CHPT) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in ChargePoint Holdings, Inc. (NYSE:CHPT) by 7.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,251,029 shares of the company’s stock after purchasing an additional 219,426 shares during the period. Charles Schwab Investment Management Inc. owned about 0.75% of ChargePoint worth $4,454,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new stake in shares of ChargePoint during the second quarter valued at $13,007,000. AQR Capital Management LLC acquired a new stake in shares of ChargePoint in the second quarter valued at about $1,310,000. Skandinaviska Enskilda Banken AB publ grew its stake in shares of ChargePoint by 62.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,623,836 shares of the company’s stock valued at $2,452,000 after buying an additional 621,536 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of ChargePoint by 60.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,298,289 shares of the company’s stock valued at $1,960,000 after purchasing an additional 487,262 shares in the last quarter. Finally, Inspire Investing LLC acquired a new position in ChargePoint during the 3rd quarter worth $412,000. Institutional investors and hedge funds own 37.77% of the company’s stock.

Insider Transactions at ChargePoint

In other ChargePoint news, CFO Mansi Khetani sold 23,409 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $1.35, for a total value of $31,602.15. Following the transaction, the chief financial officer now directly owns 849,084 shares in the company, valued at $1,146,263.40. The trade was a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Henrik Gerdes sold 26,288 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $1.32, for a total transaction of $34,700.16. Following the completion of the transaction, the chief accounting officer now owns 390,596 shares in the company, valued at approximately $515,586.72. This trade represents a 6.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 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

CHPT has been the subject of a number of research analyst reports. The Goldman Sachs Group lowered their price target on ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a report on Friday, September 6th. Evercore ISI lowered their price objective on shares of ChargePoint from $6.00 to $4.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Benchmark restated a “buy” rating and issued a $3.00 price target on shares of ChargePoint in a research report on Wednesday, November 20th. Stifel Nicolaus lowered their price objective on shares of ChargePoint from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. cut shares of ChargePoint from an “overweight” rating to an “underweight” rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ChargePoint currently has a consensus rating of “Hold” and an average target price of $2.46.

ChargePoint Stock Performance

Shares of CHPT opened at $1.15 on Friday. The company has a market capitalization of $496.32 million, a PE ratio of -1.55 and a beta of 1.69. ChargePoint Holdings, Inc. has a one year low of $1.05 and a one year high of $3.13. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.32. The company’s fifty day moving average price is $1.25 and its 200 day moving average price is $1.54.

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.