11,191 Shares in ChargePoint Holdings, Inc. (NYSE:CHPT) Purchased by National Asset Management Inc.

Posted by MarketBeat News on Aug 1st, 2022

National Asset Management Inc. bought a new position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT – Get Rating) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,191 shares of the company’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CHPT. Schroder Investment Management Group grew its position in ChargePoint by 76,206.4% during the fourth quarter. Schroder Investment Management Group now owns 876,760 shares of the company’s stock worth $16,703,000 after buying an additional 875,611 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of ChargePoint by 108.3% in the 4th quarter. Handelsbanken Fonder AB now owns 1,032,465 shares of the company’s stock worth $19,668,000 after purchasing an additional 536,767 shares in the last quarter. Truist Financial Corp boosted its holdings in shares of ChargePoint by 3,499.5% in the 1st quarter. Truist Financial Corp now owns 550,335 shares of the company’s stock worth $10,941,000 after purchasing an additional 535,046 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of ChargePoint by 21.2% in the 4th quarter. First Trust Advisors LP now owns 2,948,607 shares of the company’s stock worth $56,171,000 after purchasing an additional 516,124 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of ChargePoint by 28.0% in the 4th quarter. Geode Capital Management LLC now owns 2,230,224 shares of the company’s stock worth $42,485,000 after purchasing an additional 488,123 shares in the last quarter. 51.11% of the stock is currently owned by hedge funds and other institutional investors.

ChargePoint Stock Down 1.2 %

Shares of NYSE:CHPT opened at $15.11 on Monday. ChargePoint Holdings, Inc. has a 52-week low of $8.50 and a 52-week high of $28.72. The firm has a market capitalization of $5.09 billion, a P/E ratio of -15.11 and a beta of 1.96. The stock has a 50 day moving average price of $13.41 and a 200-day moving average price of $14.26. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.13 and a current ratio of 3.35.

ChargePoint (NYSE:CHPT – Get Rating) last posted its quarterly earnings results on Tuesday, May 31st. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.04). The company had revenue of $81.63 million during the quarter, compared to analysts’ expectations of $75.10 million. ChargePoint had a negative return on equity of 53.96% and a negative net margin of 107.29%. During the same quarter in the previous year, the company earned ($0.18) EPS. As a group, equities research analysts anticipate that ChargePoint Holdings, Inc. will post -0.94 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider William J. Loewenthal sold 4,026 shares of the company’s stock in a transaction that occurred on Friday, June 17th. The stock was sold at an average price of $12.92, for a total value of $52,015.92. Following the sale, the insider now owns 443,512 shares in the company, valued at approximately $5,730,175.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other ChargePoint news, General Counsel Rebecca Chavez sold 1,919 shares of the stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $13.63, for a total transaction of $26,155.97. Following the sale, the general counsel now directly owns 262,867 shares in the company, valued at approximately $3,582,877.21. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider William J. Loewenthal sold 4,026 shares of the stock in a transaction on Friday, June 17th. The shares were sold at an average price of $12.92, for a total value of $52,015.92. Following the sale, the insider now owns 443,512 shares in the company, valued at $5,730,175.04. The disclosure for this sale can be found here. Insiders have sold 2,016,935 shares of company stock worth $27,169,201 in the last 90 days. Insiders own 23.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CHPT. Tudor Pickering began coverage on ChargePoint in a report on Thursday, April 21st. They issued a “buy” rating and a $22.00 price objective for the company. Stifel Nicolaus cut their price objective on ChargePoint from $32.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, June 22nd. Piper Sandler lowered their target price on ChargePoint from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, June 1st. Citigroup lowered their target price on ChargePoint from $17.00 to $15.50 in a research note on Wednesday, June 1st. Finally, The Goldman Sachs Group lowered their target price on ChargePoint from $18.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, June 1st. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, ChargePoint currently has an average rating of “Moderate Buy” and a consensus price target of $21.63.

About ChargePoint

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ChargePoint Holdings, Inc provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. The company was founded in 2007 and is headquartered in Campbell, California.