1,875,733 Shares in ChargePoint Holdings, Inc. (NYSE:CHPT) Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH purchased a new stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPT - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,875,733 shares of the company's stock, valued at approximately $2,570,000. Erste Asset Management GmbH owned approximately 0.43% of ChargePoint at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new position in ChargePoint in the second quarter worth about $13,007,000. Sanctuary Advisors LLC bought a new position in shares of ChargePoint in the second quarter worth about $138,000. AQR Capital Management LLC purchased a new position in shares of ChargePoint during the 2nd quarter valued at about $1,310,000. Vanguard Group Inc. grew its stake in shares of ChargePoint by 26.3% during the 1st quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company's stock valued at $69,708,000 after acquiring an additional 7,645,210 shares during the period. Finally, Public Employees Retirement System of Ohio increased its holdings in ChargePoint by 6.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 136,355 shares of the company's stock worth $259,000 after acquiring an additional 7,838 shares in the last quarter. 37.77% of the stock is owned by hedge funds and other institutional investors.

ChargePoint Stock Down 2.5 %

NYSE CHPT traded down $0.03 during trading on Tuesday, reaching $1.16. 9,444,512 shares of the company's stock traded hands, compared to its average volume of 13,376,074. The firm has a market cap of $500.63 million, a price-to-earnings ratio of -1.17 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 company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.32. The company's 50 day simple moving average is $1.26 and its two-hundred day simple moving average is $1.57.

ChargePoint (NYSE:CHPT - Get Free Report) last posted its quarterly earnings data on Wednesday, September 4th. The company reported ($0.15) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.15). The firm had revenue of $108.54 million during the quarter, compared to analysts' expectations of $114.15 million. ChargePoint had a negative return on equity of 112.67% and a negative net margin of 89.12%. As a group, sell-side analysts forecast that ChargePoint Holdings, Inc. will post -0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CHPT. Wolfe Research assumed coverage on ChargePoint in a research note on Thursday, September 5th. They issued a "peer perform" rating for the company. JPMorgan Chase & Co. downgraded ChargePoint from an "overweight" rating to an "underweight" rating in a research report on Thursday, October 3rd. Benchmark restated a "buy" rating and issued a $3.00 target price on shares of ChargePoint in a report on Wednesday, November 20th. Stifel Nicolaus reduced their price target on ChargePoint from $3.00 to $2.00 and set a "hold" rating on the stock in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group dropped their price objective on ChargePoint from $1.50 to $1.25 and set a "sell" rating for the company in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ChargePoint presently has a consensus rating of "Hold" and an average target price of $2.47.

Insiders Place Their Bets

In other news, CAO Henrik Gerdes sold 26,288 shares of the 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 sale, the chief accounting officer now owns 390,596 shares in the company, valued at $515,586.72. This represents a 6.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Wilmer sold 27,252 shares of the firm's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $36,790.20. Following the transaction, the chief executive officer now directly owns 2,304,489 shares of the company's stock, valued at approximately $3,111,060.15. This trade represents a 1.17 % 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. Insiders own 3.50% of the company's stock.

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.