AQR Capital Management LLC Takes Position in ChargePoint Holdings, Inc. (NYSE:CHPT)

AQR Capital Management LLC purchased a new stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) during the second quarter, HoldingsChannel.com reports. The fund purchased 876,225 shares of the company’s stock, valued at approximately $1,310,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of ChargePoint by 26.3% in the first quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock worth $69,708,000 after buying an additional 7,645,210 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in ChargePoint by 62.0% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,623,836 shares of the company’s stock worth $2,452,000 after acquiring an additional 621,536 shares during the period. Bank of New York Mellon Corp raised its stake in ChargePoint by 60.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,298,289 shares of the company’s stock worth $1,960,000 after acquiring an additional 487,262 shares during the period. Swiss National Bank raised its stake in ChargePoint by 23.2% during the 1st quarter. Swiss National Bank now owns 742,900 shares of the company’s stock worth $1,412,000 after acquiring an additional 139,700 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in ChargePoint by 17.7% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 598,106 shares of the company’s stock worth $903,000 after acquiring an additional 89,817 shares during the period. Hedge funds and other institutional investors own 37.77% of the company’s stock.

Insider Activity at ChargePoint

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

ChargePoint Stock Performance

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

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

Analysts Set New Price Targets

A number of equities research analysts have commented on CHPT shares. Wolfe Research began coverage on shares of ChargePoint in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. downgraded shares of ChargePoint from an “overweight” rating to an “underweight” rating in a report on Thursday, October 3rd. Capital One Financial raised shares of ChargePoint to a “strong-buy” rating in a report on Tuesday, September 17th. Royal Bank of Canada lowered their target price on shares of ChargePoint from $3.00 to $2.50 and set a “sector perform” rating on the stock in a report on Thursday, September 5th. Finally, TD Cowen downgraded shares of ChargePoint from a “buy” rating to a “hold” rating and lowered their target price for the stock from $3.00 to $2.00 in a report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $3.39.

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.