Integrated Wealth Concepts LLC Acquires 29,669 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

Integrated Wealth Concepts LLC increased its holdings in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 144.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,170 shares of the company’s stock after purchasing an additional 29,669 shares during the period. Integrated Wealth Concepts LLC’s holdings in ChargePoint were worth $69,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. lifted its position in ChargePoint by 131.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 36,628 shares of the company’s stock valued at $50,000 after acquiring an additional 20,773 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of ChargePoint in the 3rd quarter valued at about $2,570,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of ChargePoint by 5.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,722,181 shares of the company’s stock valued at $2,359,000 after purchasing an additional 89,234 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of ChargePoint by 129.1% during the third quarter. MetLife Investment Management LLC now owns 228,799 shares of the company’s stock worth $313,000 after buying an additional 128,919 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of ChargePoint by 8.8% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 489,482 shares of the company’s stock worth $671,000 after buying an additional 39,455 shares in the last quarter. Institutional investors own 37.77% of the company’s stock.

ChargePoint Stock Performance

CHPT opened at $1.15 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.94 and a debt-to-equity ratio of 1.65. The stock has a market cap of $496.32 million, a price-to-earnings ratio of -1.55 and a beta of 1.69. ChargePoint Holdings, Inc. has a 12-month low of $1.05 and a 12-month high of $3.13. The business has a 50 day moving average of $1.25 and a 200-day moving average of $1.54.

Insider Buying and Selling 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 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 trade represents a 6.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mansi Khetani sold 23,409 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 849,084 shares in the company, valued at approximately $1,146,263.40. This trade represents a 2.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,803 shares of company stock valued at $135,295 in the last quarter. 3.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CHPT shares. Benchmark reaffirmed a “buy” rating and set a $3.00 price target on shares of ChargePoint in a research report on Wednesday, November 20th. Stifel Nicolaus reduced their target price on shares of ChargePoint from $3.00 to $2.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Royal Bank of Canada decreased their target price on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a research report on Thursday, December 5th. JPMorgan Chase & Co. cut shares of ChargePoint from an “overweight” rating to an “underweight” rating in a research report on Thursday, October 3rd. Finally, UBS Group decreased their price objective on ChargePoint from $1.50 to $1.30 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.46.

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.