20,805 Shares in ChargePoint Holdings, Inc. (NYSE:CHPT) Purchased by Financial Advocates Investment Management

Financial Advocates Investment Management acquired a new stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,805 shares of the company’s stock, valued at approximately $29,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CHPT. Vanguard Group Inc. lifted its position in ChargePoint by 26.3% during the first quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock valued at $69,708,000 after purchasing an additional 7,645,210 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of ChargePoint in the 2nd quarter worth approximately $13,007,000. Skandinaviska Enskilda Banken AB publ grew its position in shares of ChargePoint by 62.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,623,836 shares of the company’s stock worth $2,452,000 after buying an additional 621,536 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in ChargePoint by 60.1% in 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 purchasing an additional 487,262 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in ChargePoint during the 2nd quarter valued at approximately $1,310,000. Institutional investors own 37.77% of the company’s stock.

Analysts Set New Price Targets

CHPT has been the subject of several recent research reports. JPMorgan Chase & Co. lowered shares of ChargePoint from an “overweight” rating to an “underweight” rating in a report on Thursday, October 3rd. Needham & Company LLC dropped their target price on shares of ChargePoint from $3.00 to $2.00 and set a “buy” rating for the company in a report on Thursday, September 5th. TD Cowen lowered shares of ChargePoint from a “buy” rating to a “hold” rating and dropped their target price for the stock from $3.00 to $2.00 in a report on Thursday, September 5th. The Goldman Sachs Group dropped their target price on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a report on Friday, September 6th. Finally, Wolfe Research initiated coverage on shares of ChargePoint in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $2.61.

Insider Buying and Selling at ChargePoint

In other ChargePoint news, CFO Mansi Khetani sold 23,409 shares of the 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 $31,602.15. Following the transaction, the chief financial officer now directly owns 849,084 shares in the company, valued at $1,146,263.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Mansi Khetani sold 23,409 shares of ChargePoint stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $1.35, for a total value of $31,602.15. Following the transaction, the chief financial officer now directly owns 849,084 shares of the company’s stock, valued at $1,146,263.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Henrik Gerdes sold 26,288 shares of ChargePoint stock in a transaction on 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 transaction, the chief accounting officer now directly owns 390,596 shares in the company, valued at $515,586.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,803 shares of company stock worth $135,295 over the last three months. Insiders own 3.50% of the company’s stock.

ChargePoint Stock Up 7.3 %

CHPT stock opened at $1.33 on Tuesday. The company’s 50 day moving average price is $1.40 and its 200 day moving average price is $1.62. 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 Holdings, Inc. has a fifty-two week low of $1.20 and a fifty-two week high of $3.54. The firm has a market capitalization of $574.00 million, a price-to-earnings ratio of -1.34 and a beta of 1.70.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings results on Wednesday, September 4th. The company reported ($0.15) 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%. On average, equities research analysts anticipate that ChargePoint Holdings, Inc. will post -0.56 EPS for the current fiscal year.

ChargePoint 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.