Charles Schwab Investment Management Inc. Acquires 85,516 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

Charles Schwab Investment Management Inc. increased its position in ChargePoint Holdings, Inc. (NYSE:CHPT) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,336,545 shares of the company’s stock after buying an additional 85,516 shares during the period. Charles Schwab Investment Management Inc.’s holdings in ChargePoint were worth $3,570,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of ChargePoint by 1.4% in the 3rd quarter. State Street Corp now owns 10,297,421 shares of the company’s stock valued at $14,107,000 after acquiring an additional 142,767 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of ChargePoint by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company’s stock worth $12,432,000 after acquiring an additional 399,070 shares during the last quarter. Stifel Financial Corp boosted its stake 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 purchasing an additional 275,653 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of ChargePoint in the third quarter worth approximately $2,570,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of ChargePoint by 5.5% during 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 during the period. Hedge funds and other institutional investors own 37.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CHPT. Royal Bank of Canada lowered their price objective 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. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a report on Wednesday, March 5th. UBS Group set a $1.50 target price on ChargePoint in a report on Wednesday, March 5th. Stifel Nicolaus decreased their price objective on ChargePoint from $2.00 to $1.00 and set a “hold” rating for the company in a research note on Monday, March 10th. Finally, The Goldman Sachs Group lowered their target price on shares of ChargePoint from $1.00 to $0.75 and set a “sell” rating for the company in a research note on Thursday, February 20th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ChargePoint has an average rating of “Hold” and an average price target of $2.03.

ChargePoint Price Performance

Shares of CHPT opened at $0.67 on Thursday. ChargePoint Holdings, Inc. has a twelve month low of $0.56 and a twelve month high of $2.44. The firm has a market capitalization of $297.70 million, a price-to-earnings ratio of -0.91 and a beta of 1.85. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65. The firm’s fifty day simple moving average is $0.80 and its 200-day simple moving average is $1.09.

ChargePoint (NYSE:CHPT) last released its earnings results on Tuesday, March 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The company had revenue of $101.89 million during the quarter, compared to analyst estimates of $100.99 million. ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. Equities analysts forecast that ChargePoint Holdings, Inc. will post -0.57 EPS 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.