Geode Capital Management LLC Acquires 399,070 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

Geode Capital Management LLC increased its holdings in shares of ChargePoint Holdings, Inc. (NYSE:CHPTFree Report) by 4.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,072,168 shares of the company’s stock after buying an additional 399,070 shares during the quarter. Geode Capital Management LLC’s holdings in ChargePoint were worth $12,432,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. XTX Topco Ltd lifted its position in shares of ChargePoint by 1,141.0% during the 3rd quarter. XTX Topco Ltd now owns 308,786 shares of the company’s stock worth $423,000 after buying an additional 283,904 shares during the last quarter. State Street Corp lifted its position in shares of ChargePoint by 1.4% during the 3rd quarter. State Street Corp now owns 10,297,421 shares of the company’s stock worth $14,107,000 after buying an additional 142,767 shares during the last quarter. Stifel Financial Corp lifted its position in shares of ChargePoint by 15.5% during the 3rd quarter. Stifel Financial Corp now owns 2,055,211 shares of the company’s stock worth $2,816,000 after buying an additional 275,653 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in ChargePoint by 144.7% in the third quarter. Integrated Wealth Concepts LLC now owns 50,170 shares of the company’s stock valued at $69,000 after purchasing an additional 29,669 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in ChargePoint by 131.0% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 36,628 shares of the company’s stock valued at $50,000 after purchasing an additional 20,773 shares during the last quarter. 37.77% of the stock is currently owned by institutional investors.

ChargePoint Price Performance

Shares of CHPT opened at $1.11 on Tuesday. The business has a 50-day moving average of $1.21 and a 200-day moving average of $1.49. ChargePoint Holdings, Inc. has a 1 year low of $1.05 and a 1 year high of $2.44. The company has a market capitalization of $491.00 million, a price-to-earnings ratio of -1.50 and a beta of 1.69. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.32.

Insider Buying and Selling

In related news, CFO Mansi Khetani sold 22,038 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $25,123.32. Following the completion of the sale, the chief financial officer now owns 1,230,305 shares of the company’s stock, valued at $1,402,547.70. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jagdeep Ca Singh sold 36,574 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total value of $41,694.36. Following the sale, the insider now directly owns 1,161,430 shares of the company’s stock, valued at $1,324,030.20. This represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,436 shares of company stock valued at $134,049 over the last 90 days. Company insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CHPT. UBS Group dropped their target price on ChargePoint from $1.50 to $1.30 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. Benchmark reiterated a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a research report on Wednesday, November 20th. Stifel Nicolaus dropped their target price on ChargePoint from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Wolfe Research began coverage on ChargePoint in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. downgraded ChargePoint from an “overweight” rating to an “underweight” rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.46.

Check Out Our Latest Stock Analysis on CHPT

ChargePoint Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CHPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ChargePoint Holdings, Inc. (NYSE:CHPTFree Report).

Institutional Ownership by Quarter for ChargePoint (NYSE:CHPT)

Receive News & Ratings for ChargePoint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ChargePoint and related companies with MarketBeat.com's FREE daily email newsletter.