Swiss National Bank Increases Holdings in ChargePoint Holdings, Inc. (NYSE:CHPT)

Swiss National Bank raised its stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPTGet Rating) by 19.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 506,900 shares of the company’s stock after buying an additional 84,300 shares during the period. Swiss National Bank’s holdings in ChargePoint were worth $6,939,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hodges Capital Management Inc. raised its stake in ChargePoint by 9.2% during the 2nd quarter. Hodges Capital Management Inc. now owns 11,835 shares of the company’s stock valued at $162,000 after buying an additional 1,000 shares during the last quarter. Capital Square LLC raised its stake in ChargePoint by 7.8% during the 2nd quarter. Capital Square LLC now owns 13,780 shares of the company’s stock valued at $188,000 after buying an additional 1,000 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in ChargePoint by 16.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 7,533 shares of the company’s stock valued at $103,000 after buying an additional 1,048 shares during the last quarter. Western Wealth Management LLC raised its stake in ChargePoint by 7.6% during the 2nd quarter. Western Wealth Management LLC now owns 15,828 shares of the company’s stock valued at $217,000 after buying an additional 1,120 shares during the last quarter. Finally, Wedbush Securities Inc. increased its stake in shares of ChargePoint by 7.3% in the 2nd quarter. Wedbush Securities Inc. now owns 16,505 shares of the company’s stock worth $226,000 after purchasing an additional 1,130 shares in the last quarter. 45.88% of the stock is currently owned by hedge funds and other institutional investors.

ChargePoint Stock Down 1.9 %

CHPT opened at $11.49 on Wednesday. The firm has a 50-day simple moving average of $14.17 and a two-hundred day simple moving average of $14.01. ChargePoint Holdings, Inc. has a 52 week low of $8.50 and a 52 week high of $27.90. The company has a market capitalization of $3.91 billion, a PE ratio of -11.61 and a beta of 1.65. The company has a quick ratio of 2.62, a current ratio of 2.85 and a debt-to-equity ratio of 0.75.

ChargePoint (NYSE:CHPTGet Rating) last released its quarterly earnings data on Tuesday, August 30th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.02). ChargePoint had a negative net margin of 92.93% and a negative return on equity of 61.79%. The company had revenue of $108.29 million for the quarter, compared to the consensus estimate of $103.03 million. During the same period last year, the company earned ($0.24) EPS. The firm’s revenue for the quarter was up 93.0% on a year-over-year basis. Analysts forecast that ChargePoint Holdings, Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Activity at ChargePoint

In related news, insider William J. Loewenthal sold 3,115 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $15.73, for a total value of $48,998.95. Following the completion of the transaction, the insider now owns 437,964 shares of the company’s stock, valued at approximately $6,889,173.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider William J. Loewenthal sold 3,115 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $15.73, for a total value of $48,998.95. Following the completion of the transaction, the insider now owns 437,964 shares of the company’s stock, valued at approximately $6,889,173.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael D. Hughes sold 25,000 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $15.11, for a total transaction of $377,750.00. Following the completion of the transaction, the insider now directly owns 955,094 shares of the company’s stock, valued at approximately $14,431,470.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,130 shares of company stock valued at $2,082,753. Insiders own 23.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CHPT. JPMorgan Chase & Co. upped their price objective on ChargePoint from $18.00 to $20.00 in a research note on Tuesday, August 23rd. Bank of America upped their price objective on ChargePoint from $14.00 to $15.50 in a research note on Monday, August 22nd. B. Riley reduced their price objective on ChargePoint from $20.00 to $18.00 in a research note on Monday, November 7th. Needham & Company LLC reduced their price objective on ChargePoint from $24.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, October 20th. Finally, Credit Suisse Group started coverage on ChargePoint in a research note on Wednesday, September 7th. They issued an “outperform” rating and a $22.00 price target for the company. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, ChargePoint currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.63.

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.

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Institutional Ownership by Quarter for ChargePoint (NYSE:CHPT)

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