ChargePoint Holdings, Inc. (NYSE:CHPT) Shares Acquired by Perennial Investment Advisors LLC

Perennial Investment Advisors LLC increased its stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 74.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 24,380 shares of the company’s stock after acquiring an additional 10,400 shares during the period. Perennial Investment Advisors LLC’s holdings in ChargePoint were worth $37,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CHPT. Treasurer of the State of North Carolina increased its position in shares of ChargePoint by 3.7% during the fourth quarter. Treasurer of the State of North Carolina now owns 136,113 shares of the company’s stock worth $319,000 after acquiring an additional 4,910 shares during the last quarter. Independent Advisor Alliance grew its stake in ChargePoint by 34.2% during the 4th quarter. Independent Advisor Alliance now owns 19,945 shares of the company’s stock valued at $47,000 after purchasing an additional 5,085 shares in the last quarter. CIBC Asset Management Inc increased its holdings in ChargePoint by 50.7% during the 2nd quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock worth $26,000 after purchasing an additional 5,770 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of ChargePoint by 6.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 136,355 shares of the company’s stock valued at $259,000 after purchasing an additional 7,838 shares in the last quarter. Finally, Capital Square LLC boosted its stake in shares of ChargePoint by 47.4% during the 1st quarter. Capital Square LLC now owns 24,880 shares of the company’s stock valued at $47,000 after buying an additional 8,000 shares during the last quarter. Hedge funds and other institutional investors own 37.77% of the company’s stock.

ChargePoint Stock Down 4.0 %

ChargePoint stock opened at $1.45 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.45 and a current ratio of 2.03. ChargePoint Holdings, Inc. has a one year low of $1.21 and a one year high of $5.49. The company has a 50-day simple moving average of $1.80 and a 200-day simple moving average of $1.72. The firm has a market capitalization of $625.79 million, a P/E ratio of -1.23 and a beta of 1.70.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Royal Bank of Canada cut their price target on shares of ChargePoint from $3.00 to $2.50 and set a “sector perform” rating on the stock in a report on Thursday, September 5th. Needham & Company LLC reduced their price target on shares of ChargePoint from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. The Goldman Sachs Group lowered their price objective on ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a report on Friday, September 6th. Wolfe Research started coverage on ChargePoint in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Evercore ISI decreased their target price on ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.39.

Insider Buying and Selling at ChargePoint

In other ChargePoint news, CFO Mansi Khetani sold 19,007 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $1.40, for a total value of $26,609.80. Following the sale, the chief financial officer now owns 402,493 shares in the company, valued at $563,490.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Mansi Khetani sold 19,007 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $1.40, for a total transaction of $26,609.80. Following the transaction, the chief financial officer now directly owns 402,493 shares of the company’s stock, valued at $563,490.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Wilmer sold 27,722 shares of ChargePoint stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $1.40, for a total transaction of $38,810.80. Following the sale, the chief executive officer now owns 2,331,740 shares in the company, valued at $3,264,436. The disclosure for this sale can be found here. Insiders sold 51,503 shares of company stock valued at $72,104 in the last ninety days. Company insiders own 3.50% of the company’s stock.

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.