ChargePoint Holdings, Inc. (NYSE:CHPT) Stock Position Increased by Perennial Investment Advisors LLC

Perennial Investment Advisors LLC increased its position in ChargePoint Holdings, Inc. (NYSE:CHPT) by 74.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,380 shares of the company’s stock after buying an additional 10,400 shares during the quarter. Perennial Investment Advisors LLC’s holdings in ChargePoint were worth $37,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CHPT. Balentine LLC acquired a new position in ChargePoint in the fourth quarter worth approximately $26,000. Bridgecreek Investment Management LLC bought a new stake in shares of ChargePoint during the 4th quarter worth $33,000. CreativeOne Wealth LLC acquired a new position in shares of ChargePoint in the 1st quarter worth $30,000. PDS Planning Inc acquired a new stake in shares of ChargePoint during the first quarter worth $31,000. Finally, CIBC Asset Management Inc lifted its holdings in shares of ChargePoint by 50.7% during the second quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock valued at $26,000 after purchasing an additional 5,770 shares during the last quarter. Institutional investors own 37.77% of the company’s stock.

Insider Buying and Selling at ChargePoint

In other news, CFO Mansi Khetani sold 19,007 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $1.40, for a total transaction of $26,609.80. Following the transaction, the chief financial officer now owns 402,493 shares in the company, valued at approximately $563,490.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Mansi Khetani sold 19,007 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $1.40, for a total value of $26,609.80. Following the completion of the sale, the chief financial officer now directly owns 402,493 shares in the company, valued at $563,490.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard Wilmer sold 27,722 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $1.40, for a total value of $38,810.80. Following the transaction, the chief executive officer now owns 2,331,740 shares in the company, valued at $3,264,436. The disclosure for this sale can be found here. Insiders sold 51,503 shares of company stock worth $72,104 over the last ninety days. 3.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CHPT. Benchmark reissued a “buy” rating and issued a $3.00 price target on shares of ChargePoint in a research note on Thursday, September 5th. Royal Bank of Canada dropped their target price on shares of ChargePoint from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research report on Thursday, September 5th. B. Riley upgraded shares of ChargePoint to a “hold” rating in a research report on Tuesday, June 25th. Evercore ISI lowered their price objective on shares of ChargePoint from $6.00 to $4.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Finally, The Goldman Sachs Group reduced their target price on ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $3.39.

ChargePoint Trading Down 4.0 %

Shares of NYSE CHPT opened at $1.45 on Thursday. The business has a 50 day simple moving average of $1.80 and a 200 day simple moving average of $1.72. ChargePoint Holdings, Inc. has a 52 week low of $1.21 and a 52 week high of $5.49. The stock has a market cap of $625.79 million, a price-to-earnings ratio of -1.23 and a beta of 1.70. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.45 and a current ratio of 2.03.

ChargePoint Company 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.