The Manufacturers Life Insurance Company Makes New Investment in ChargePoint Holdings, Inc. (NYSE:CHPT)

The Manufacturers Life Insurance Company purchased a new position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) during the second quarter, HoldingsChannel.com reports. The fund purchased 153,306 shares of the company’s stock, valued at approximately $231,000.

A number of other large investors also recently bought and sold shares of CHPT. CIBC Asset Management Inc increased its position in shares of ChargePoint by 50.7% in the second quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock worth $26,000 after acquiring an additional 5,770 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of ChargePoint by 41.4% in the second quarter. Hsbc Holdings PLC now owns 26,397 shares of the company’s stock worth $39,000 after acquiring an additional 7,723 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of ChargePoint by 6.1% in the first quarter. Public Employees Retirement System of Ohio now owns 136,355 shares of the company’s stock worth $259,000 after acquiring an additional 7,838 shares in the last quarter. Capital Square LLC increased its position in shares of ChargePoint by 47.4% in the first quarter. Capital Square LLC now owns 24,880 shares of the company’s stock worth $47,000 after acquiring an additional 8,000 shares in the last quarter. Finally, PFG Investments LLC increased its position in shares of ChargePoint by 32.2% in the second quarter. PFG Investments LLC now owns 34,102 shares of the company’s stock worth $51,000 after acquiring an additional 8,297 shares in the last quarter. Hedge funds and other institutional investors own 37.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CHPT. JPMorgan Chase & Co. lowered shares of ChargePoint from an “overweight” rating to an “underweight” rating in a research report on Thursday, October 3rd. Benchmark reaffirmed a “buy” rating and set a $3.00 price target on shares of ChargePoint in a report on Thursday, September 5th. Evercore ISI lowered their price target on shares of ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. B. Riley raised shares of ChargePoint to a “hold” rating in a report on Tuesday, June 25th. Finally, TD Cowen lowered shares of ChargePoint from a “buy” rating to a “hold” rating and lowered their price target for the company from $3.00 to $2.00 in a report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.65.

Insider Transactions at ChargePoint

In other news, CAO Henrik Gerdes sold 26,288 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $1.32, for a total value of $34,700.16. Following the transaction, the chief accounting officer now directly owns 390,596 shares in the company, valued at approximately $515,586.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Richard Wilmer sold 27,252 shares of ChargePoint stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $1.35, for a total value of $36,790.20. Following 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Henrik Gerdes sold 26,288 shares of ChargePoint stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $1.32, for a total transaction of $34,700.16. Following the completion of the sale, the chief accounting officer now owns 390,596 shares in the company, valued at approximately $515,586.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,803 shares of company stock worth $135,295. 3.50% of the stock is currently owned by insiders.

ChargePoint Price Performance

Shares of CHPT stock opened at $1.36 on Friday. The firm has a market cap of $573.65 million, a P/E ratio of -1.15 and a beta of 1.69. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.32. ChargePoint Holdings, Inc. has a 1-year low of $1.21 and a 1-year high of $3.54. The firm has a fifty day moving average of $1.52 and a two-hundred day moving average of $1.65.

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

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.