ChargePoint Holdings, Inc. (NYSE:CHPT) Shares Acquired by State Street Corp

State Street Corp lifted its stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,297,421 shares of the company’s stock after purchasing an additional 142,767 shares during the quarter. State Street Corp owned about 2.39% of ChargePoint worth $14,107,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. CIBC Asset Management Inc increased its holdings in shares of ChargePoint by 50.7% during the second quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock valued at $26,000 after purchasing an additional 5,770 shares during the period. Delap Wealth Advisory LLC bought a new position in ChargePoint during the 2nd quarter valued at $31,000. Financial Advocates Investment Management acquired a new stake in shares of ChargePoint in the third quarter valued at $29,000. Perennial Investment Advisors LLC grew its holdings in ChargePoint by 74.4% during the second quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company’s stock worth $37,000 after acquiring an additional 10,400 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of ChargePoint by 152.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,462 shares of the company’s stock valued at $38,000 after purchasing an additional 15,358 shares in the last quarter. Institutional investors own 37.77% of the company’s stock.

Insider Buying and Selling

In other news, insider Jagdeep Ca Singh sold 36,574 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $41,694.36. Following the transaction, the insider now directly owns 1,161,430 shares of the company’s stock, valued at $1,324,030.20. This represents a 3.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mansi Khetani sold 22,038 shares of ChargePoint stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $1.14, for a total value of $25,123.32. Following the transaction, the chief financial officer now owns 1,230,305 shares of the company’s stock, valued at $1,402,547.70. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,436 shares of company stock valued at $134,049 over the last quarter. Insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CHPT. Benchmark reaffirmed a “buy” rating and set a $3.00 target price on shares of ChargePoint in a report on Wednesday, November 20th. Capital One Financial raised shares of ChargePoint to a “strong-buy” rating in a research note on Tuesday, September 17th. UBS Group decreased their target price on ChargePoint from $1.50 to $1.30 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a research note on Thursday, December 5th. Finally, TD Cowen downgraded ChargePoint from a “buy” rating to a “hold” rating and dropped their target price for the company from $3.00 to $2.00 in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.46.

ChargePoint Stock Performance

NYSE:CHPT opened at $1.16 on Wednesday. The stock’s 50-day moving average is $1.22 and its 200-day moving average is $1.51. The stock has a market cap of $513.12 million, a P/E ratio of -1.57 and a beta of 1.69. ChargePoint Holdings, Inc. has a 1-year low of $1.05 and a 1-year high of $2.68. The company has a current ratio of 1.94, a quick ratio of 1.32 and a debt-to-equity ratio of 1.65.

ChargePoint 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.