ChargePoint Holdings, Inc. (NYSE:CHPT) Stake Reduced by International Assets Investment Management LLC

International Assets Investment Management LLC reduced its holdings in ChargePoint Holdings, Inc. (NYSE:CHPT) by 28.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,370 shares of the company’s stock after selling 17,033 shares during the quarter. International Assets Investment Management LLC’s holdings in ChargePoint were worth $49,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. State Street Corp lifted its holdings in shares of ChargePoint by 1.4% in the third quarter. State Street Corp now owns 10,297,421 shares of the company’s stock valued at $14,107,000 after buying an additional 142,767 shares during the period. Geode Capital Management LLC grew its position in ChargePoint by 4.6% during the third quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company’s stock valued at $12,432,000 after purchasing an additional 399,070 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in ChargePoint in the second quarter valued at about $13,007,000. Charles Schwab Investment Management Inc. grew its position in ChargePoint by 7.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,251,029 shares of the company’s stock worth $4,454,000 after acquiring an additional 219,426 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of ChargePoint by 15.5% in the third quarter. Stifel Financial Corp now owns 2,055,211 shares of the company’s stock worth $2,816,000 after buying an additional 275,653 shares during the last quarter. Institutional investors and hedge funds own 37.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CHPT shares. Stifel Nicolaus cut their target price on shares of ChargePoint from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. cut ChargePoint from an “overweight” rating to an “underweight” rating in a report on Thursday, October 3rd. Capital One Financial raised ChargePoint to a “strong-buy” rating in a report on Tuesday, September 17th. Benchmark reissued a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a research note on Wednesday, November 20th. Finally, UBS Group dropped their target price on shares of ChargePoint from $1.50 to $1.30 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $2.46.

ChargePoint Stock Down 0.5 %

Shares of NYSE:CHPT opened at $1.05 on Wednesday. ChargePoint Holdings, Inc. has a 12-month low of $1.02 and a 12-month high of $2.44. The company has a current ratio of 1.94, a quick ratio of 1.32 and a debt-to-equity ratio of 1.65. The stock’s 50-day moving average price is $1.17 and its 200-day moving average price is $1.46. The stock has a market capitalization of $462.25 million, a P/E ratio of -1.41 and a beta of 1.70.

Insider Activity at ChargePoint

In other news, CAO Henrik Gerdes sold 28,536 shares of ChargePoint stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total value of $32,531.04. Following the completion of the sale, the chief accounting officer now directly owns 362,060 shares in the company, valued at $412,748.40. The trade was a 7.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mansi Khetani sold 22,038 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total transaction of $25,123.32. Following the transaction, the chief financial officer now owns 1,230,305 shares in the company, valued at approximately $1,402,547.70. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,148 shares of company stock worth $99,349 over the last quarter. Corporate insiders own 3.50% of the company’s stock.

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.