ChargePoint Holdings, Inc. (NYSE:CHPT) Stock Holdings Lifted by PFG Investments LLC

PFG Investments LLC increased its stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 32.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 34,102 shares of the company’s stock after acquiring an additional 8,297 shares during the period. PFG Investments LLC’s holdings in ChargePoint were worth $51,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of ChargePoint by 26.3% in the 1st quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock valued at $69,708,000 after buying an additional 7,645,210 shares during the period. Norges Bank acquired a new stake in shares of ChargePoint during the fourth quarter worth $9,733,000. Quadrature Capital Ltd acquired a new stake in shares of ChargePoint during the fourth quarter worth $1,257,000. Bank of New York Mellon Corp lifted its holdings in shares of ChargePoint by 60.1% during the second quarter. Bank of New York Mellon Corp now owns 1,298,289 shares of the company’s stock worth $1,960,000 after buying an additional 487,262 shares in the last quarter. Finally, Cetera Advisors LLC lifted its holdings in shares of ChargePoint by 752.7% during the first quarter. Cetera Advisors LLC now owns 389,584 shares of the company’s stock worth $740,000 after buying an additional 343,898 shares in the last quarter. Institutional investors own 37.77% of the company’s stock.

Insider Activity at ChargePoint

In related news, CAO Henrik Gerdes sold 43,596 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $1.50, for a total transaction of $65,394.00. Following the transaction, the chief accounting officer now directly owns 438,004 shares in the company, valued at approximately $657,006. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CAO Henrik Gerdes sold 43,596 shares of ChargePoint stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $1.50, for a total value of $65,394.00. Following the sale, the chief accounting officer now directly owns 438,004 shares in the company, valued at approximately $657,006. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Richard Wilmer sold 27,722 shares of ChargePoint stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $1.40, for a total value of $38,810.80. Following the completion of the sale, the chief executive officer now owns 2,331,740 shares in the company, valued at $3,264,436. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,099 shares of company stock valued at $137,498. Corporate insiders own 3.50% of the company’s stock.

ChargePoint Stock Performance

NYSE:CHPT opened at $1.37 on Friday. The business’s 50-day moving average price is $1.83 and its two-hundred day moving average price is $1.74. ChargePoint Holdings, Inc. has a twelve month low of $1.21 and a twelve month high of $6.11. The stock has a market cap of $580.00 million, a P/E ratio of -1.16 and a beta of 1.70. The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 1.24.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Benchmark reissued a “buy” rating and set a $3.00 target price on shares of ChargePoint in a report on Thursday, September 5th. The Goldman Sachs Group dropped their price target on ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a research note on Friday, September 6th. Wolfe Research initiated coverage on ChargePoint in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. B. Riley raised ChargePoint to a “hold” rating in a research note on Tuesday, June 25th. Finally, Evercore ISI dropped their price target on ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, ChargePoint has an average rating of “Hold” and a consensus target price of $3.39.

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.