Inspire Investing LLC Invests $412,000 in ChargePoint Holdings, Inc. (NYSE:CHPT)

Inspire Investing LLC bought a new stake in ChargePoint Holdings, Inc. (NYSE:CHPT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 300,498 shares of the company’s stock, valued at approximately $412,000. Inspire Investing LLC owned about 0.07% of ChargePoint at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CHPT. Point72 Asset Management L.P. acquired a new position in shares of ChargePoint during the 2nd quarter worth about $13,007,000. Vanguard Group Inc. boosted its holdings in ChargePoint by 26.3% in 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 in the last quarter. AQR Capital Management LLC purchased a new position in ChargePoint in the second quarter valued at approximately $1,310,000. Skandinaviska Enskilda Banken AB publ raised its holdings in ChargePoint by 62.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,623,836 shares of the company’s stock worth $2,452,000 after purchasing an additional 621,536 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of ChargePoint during the 4th quarter worth approximately $1,257,000. Hedge funds and other institutional investors own 37.77% of the company’s stock.

ChargePoint Price Performance

NYSE CHPT opened at $1.34 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.32. ChargePoint Holdings, Inc. has a 52-week low of $1.21 and a 52-week high of $3.61. The firm has a 50-day moving average price of $1.53 and a 200 day moving average price of $1.66.

ChargePoint (NYSE:CHPT) last issued its earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.15). ChargePoint had a negative return on equity of 112.67% and a negative net margin of 89.12%. The business had revenue of $108.54 million during the quarter, compared to the consensus estimate of $114.15 million. On average, equities research analysts predict that ChargePoint Holdings, Inc. will post -0.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CHPT shares. The Goldman Sachs Group dropped their target price on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a research report on Friday, September 6th. Capital One Financial upgraded ChargePoint to a “strong-buy” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. cut ChargePoint from an “overweight” rating to an “underweight” rating in a research report on Thursday, October 3rd. Benchmark reaffirmed a “buy” rating and set a $3.00 price target on shares of ChargePoint in a research report on Thursday, September 5th. Finally, TD Cowen cut ChargePoint from a “buy” rating to a “hold” rating and reduced their price objective for the company from $3.00 to $2.00 in a research note on Thursday, September 5th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ChargePoint currently has a consensus rating of “Hold” and an average price target of $2.65.

Insider Buying and Selling at ChargePoint

In other news, CAO Henrik Gerdes sold 26,288 shares of the company’s 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 transaction, the chief accounting officer now directly owns 390,596 shares of the company’s stock, valued at $515,586.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ChargePoint news, CFO Mansi Khetani sold 23,409 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $31,602.15. Following the sale, the chief financial officer now owns 849,084 shares of the company’s stock, valued at approximately $1,146,263.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Henrik Gerdes sold 26,288 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $1.32, for a total value of $34,700.16. Following the completion of the transaction, the chief accounting officer now owns 390,596 shares of the company’s stock, valued at approximately $515,586.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,803 shares of company stock valued at $135,295. 3.50% of the stock is owned by company insiders.

ChargePoint Company 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.