AQR Capital Management LLC Makes New $1.31 Million Investment in ChargePoint Holdings, Inc. (NYSE:CHPT)

AQR Capital Management LLC bought a new position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 876,225 shares of the company’s stock, valued at approximately $1,310,000. AQR Capital Management LLC owned approximately 0.21% of ChargePoint as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of ChargePoint during the 1st quarter worth approximately $258,000. Vanguard Group Inc. increased its stake in shares of ChargePoint by 26.3% during the 1st quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock worth $69,708,000 after purchasing an additional 7,645,210 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of ChargePoint by 6.1% during the 1st 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 during the last quarter. CreativeOne Wealth LLC purchased a new stake in shares of ChargePoint during the 1st quarter worth approximately $30,000. Finally, Tidal Investments LLC increased its stake in shares of ChargePoint by 58.8% during the 1st quarter. Tidal Investments LLC now owns 333,866 shares of the company’s stock worth $634,000 after purchasing an additional 123,597 shares during the last quarter. Institutional investors own 37.77% of the company’s stock.

Insider Transactions at ChargePoint

In other news, CFO Mansi Khetani sold 23,409 shares of ChargePoint stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $31,602.15. Following the sale, the chief financial officer now directly owns 849,084 shares in the company, valued at approximately $1,146,263.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Mansi Khetani sold 23,409 shares of ChargePoint stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $31,602.15. Following the sale, the chief financial officer now directly owns 849,084 shares in the company, valued at $1,146,263.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard Wilmer sold 27,252 shares of ChargePoint stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $1.35, for a total value of $36,790.20. Following the sale, the chief executive officer now owns 2,304,489 shares in the company, valued at $3,111,060.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,515 shares of company stock worth $100,595. 3.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a research note on Friday, September 6th. Royal Bank of Canada decreased their price objective on ChargePoint from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research note on Thursday, September 5th. B. Riley raised ChargePoint to a “hold” rating in a report on Tuesday, June 25th. Evercore ISI dropped their price objective on ChargePoint from $6.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Finally, Capital One Financial raised ChargePoint to a “strong-buy” rating in a report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $3.39.

ChargePoint Price Performance

CHPT opened at $1.31 on Friday. The stock’s 50 day simple moving average is $1.57 and its 200 day simple moving average is $1.67. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.32. ChargePoint Holdings, Inc. has a 1 year low of $1.21 and a 1 year high of $4.62. The firm has a market cap of $565.37 million, a price-to-earnings ratio of -1.11 and a beta of 1.69.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.15). ChargePoint had a negative return on equity of 112.67% and a negative net margin of 89.12%. The business had revenue of $108.54 million for the quarter, compared to analyst estimates of $114.15 million. As a group, analysts predict that ChargePoint Holdings, Inc. will post -0.56 earnings per share for the current year.

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.