Commonwealth Equity Services LLC Boosts Stock Position in ChargePoint Holdings, Inc. (NYSE:CHPT)

Commonwealth Equity Services LLC grew its holdings in ChargePoint Holdings, Inc. (NYSE:CHPT) by 39.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 370,562 shares of the company’s stock after purchasing an additional 105,155 shares during the period. Commonwealth Equity Services LLC owned about 0.09% of ChargePoint worth $560,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Susquehanna Fundamental Investments LLC bought a new stake in ChargePoint during the 1st quarter valued at about $258,000. Vanguard Group Inc. boosted its holdings in shares of ChargePoint by 26.3% in the first quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock valued at $69,708,000 after purchasing an additional 7,645,210 shares during the period. Public Employees Retirement System of Ohio grew its stake in ChargePoint by 6.1% in the first quarter. Public Employees Retirement System of Ohio now owns 136,355 shares of the company’s stock worth $259,000 after purchasing an additional 7,838 shares in the last quarter. CreativeOne Wealth LLC purchased a new position in ChargePoint during the 1st quarter worth $30,000. Finally, Tidal Investments LLC raised its position in ChargePoint by 58.8% during the 1st quarter. Tidal Investments LLC now owns 333,866 shares of the company’s stock valued at $634,000 after purchasing an additional 123,597 shares in the last quarter. 37.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CHPT shares. The Goldman Sachs Group cut their price target on ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a research note on Friday, September 6th. TD Cowen lowered shares of ChargePoint from a “buy” rating to a “hold” rating and reduced their price target for the company from $3.00 to $2.00 in a report on Thursday, September 5th. Benchmark reiterated a “buy” rating and set a $3.00 price objective on shares of ChargePoint in a research note on Thursday, September 5th. Royal Bank of Canada reduced their price objective on shares of ChargePoint from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Thursday, September 5th. Finally, Capital One Financial upgraded ChargePoint to a “strong-buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.39.

ChargePoint Stock Down 4.2 %

NYSE:CHPT opened at $1.37 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 1.24. ChargePoint Holdings, Inc. has a twelve month low of $1.21 and a twelve month high of $5.24. The company has a market cap of $580.00 million, a PE ratio of -1.16 and a beta of 1.70. The company’s 50 day moving average is $1.79 and its two-hundred day moving average is $1.72.

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.