Envestnet Asset Management Inc. Purchases 59,262 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

Envestnet Asset Management Inc. lifted its position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT – Get Rating) by 73.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 140,426 shares of the company’s stock after purchasing an additional 59,262 shares during the period. Envestnet Asset Management Inc.’s holdings in ChargePoint were worth $1,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in CHPT. Mutual Advisors LLC acquired a new position in ChargePoint in the 4th quarter valued at $275,000. ExodusPoint Capital Management LP bought a new stake in shares of ChargePoint in the third quarter valued at about $660,000. Dana Investment Advisors Inc. acquired a new position in shares of ChargePoint in the third quarter valued at about $303,000. Jacobi Capital Management LLC increased its position in ChargePoint by 8.2% during the third quarter. Jacobi Capital Management LLC now owns 11,819 shares of the company’s stock worth $174,000 after acquiring an additional 900 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new stake in ChargePoint in the 3rd quarter worth about $1,401,000. Institutional investors own 44.87% of the company’s stock.

ChargePoint Stock Performance

Shares of CHPT stock opened at $8.49 on Wednesday. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of -8.24 and a beta of 1.69. The company has a current ratio of 2.48, a quick ratio of 2.23 and a debt-to-equity ratio of 0.83. The business’s 50-day moving average price is $9.04 and its 200-day moving average price is $10.41. ChargePoint Holdings, Inc. has a 12 month low of $7.82 and a 12 month high of $19.92.

ChargePoint (NYSE:CHPT – Get Rating) last posted its earnings results on Thursday, March 2nd. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.03. ChargePoint had a negative net margin of 73.59% and a negative return on equity of 82.84%. The business had revenue of $152.83 million for the quarter, compared to the consensus estimate of $164.31 million. Equities research analysts forecast that ChargePoint Holdings, Inc. will post -0.7 EPS for the current year.

Insider Transactions at ChargePoint

In related news, insider Richard Wilmer sold 4,312 shares of the firm’s stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $9.40, for a total transaction of $40,532.80. Following the completion of the transaction, the insider now directly owns 658,018 shares of the company’s stock, valued at approximately $6,185,369.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ChargePoint news, insider Richard Wilmer sold 4,312 shares of the stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $9.40, for a total transaction of $40,532.80. Following the completion of the sale, the insider now owns 658,018 shares of the company’s stock, valued at approximately $6,185,369.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Pasquale Romano sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $8.00, for a total transaction of $160,000.00. Following the completion of the transaction, the chief executive officer now owns 4,148,054 shares in the company, valued at approximately $33,184,432. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 429,610 shares of company stock worth $3,676,846. Company insiders own 23.64% of the company’s stock.

Analyst Upgrades and Downgrades

CHPT has been the topic of several recent research reports. The Goldman Sachs Group began coverage on shares of ChargePoint in a report on Tuesday, March 21st. They set a “neutral” rating and a $10.00 target price on the stock. Janney Montgomery Scott began coverage on ChargePoint in a research note on Friday, February 24th. They issued a “buy” rating for the company. Stifel Nicolaus reduced their price objective on shares of ChargePoint from $25.00 to $17.00 in a research note on Tuesday, April 25th. Guggenheim assumed coverage on shares of ChargePoint in a research report on Tuesday, May 2nd. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. decreased their price target on ChargePoint from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, March 3rd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.68.

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.