Invesco Ltd. Has $5.38 Million Stock Position in ChargePoint Holdings, Inc. (NYSE:CHPT)

Invesco Ltd. grew its position in ChargePoint Holdings, Inc. (NYSE:CHPT - Free Report) by 13.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,029,849 shares of the company's stock after purchasing an additional 583,761 shares during the period. Invesco Ltd. owned approximately 1.14% of ChargePoint worth $5,382,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CHPT. Geode Capital Management LLC boosted its stake in shares of ChargePoint by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company's stock worth $12,432,000 after buying an additional 399,070 shares during the last quarter. Franklin Resources Inc. bought a new position in ChargePoint in the third quarter valued at approximately $117,000. JPMorgan Chase & Co. raised its stake in shares of ChargePoint by 5.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 177,375 shares of the company's stock worth $243,000 after purchasing an additional 9,519 shares in the last quarter. Inspire Investing LLC grew its stake in shares of ChargePoint by 25.1% in the fourth quarter. Inspire Investing LLC now owns 375,860 shares of the company's stock valued at $402,000 after buying an additional 75,362 shares in the last quarter. Finally, Strategic Investment Advisors MI bought a new stake in ChargePoint during the fourth quarter worth $46,000. 37.77% of the stock is currently owned by institutional investors.

ChargePoint Stock Performance

Shares of NYSE:CHPT traded down $0.03 on Tuesday, reaching $0.66. 9,487,993 shares of the company's stock were exchanged, compared to its average volume of 17,154,344. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65. ChargePoint Holdings, Inc. has a twelve month low of $0.51 and a twelve month high of $2.44. The company has a fifty day moving average of $0.64 and a 200-day moving average of $0.95. The company has a market capitalization of $300.35 million, a price-to-earnings ratio of -0.89 and a beta of 2.05.

ChargePoint (NYSE:CHPT - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.01). The company had revenue of $101.89 million for the quarter, compared to the consensus estimate of $100.99 million. ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. On average, research analysts predict that ChargePoint Holdings, Inc. will post -0.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CHPT has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of ChargePoint in a report on Wednesday, March 5th. UBS Group cut their price objective on ChargePoint from $0.70 to $0.65 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Stifel Nicolaus decreased their target price on ChargePoint from $2.00 to $1.00 and set a "hold" rating on the stock in a report on Monday, March 10th. Evercore ISI downgraded ChargePoint from an "outperform" rating to an "in-line" rating and cut their price target for the company from $4.00 to $1.00 in a report on Monday, March 31st. Finally, The Goldman Sachs Group dropped their price objective on shares of ChargePoint from $0.75 to $0.50 and set a "sell" rating on the stock in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $1.52.

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.