ChargePoint Holdings, Inc. (NYSE:CHPT) Stock Holdings Increased by Inspire Investing LLC

Inspire Investing LLC lifted its holdings in ChargePoint Holdings, Inc. (NYSE:CHPT) by 25.1% in the 4th quarter, HoldingsChannel reports. The firm owned 375,860 shares of the company’s stock after purchasing an additional 75,362 shares during the quarter. Inspire Investing LLC’s holdings in ChargePoint were worth $402,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. State Street Corp lifted its holdings in ChargePoint by 1.4% in the third quarter. State Street Corp now owns 10,297,421 shares of the company’s stock worth $14,107,000 after purchasing an additional 142,767 shares during the period. Geode Capital Management LLC lifted its stake 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 period. Point72 Asset Management L.P. bought a new position in shares of ChargePoint in the second quarter valued at approximately $13,007,000. Charles Schwab Investment Management Inc. increased its stake in shares of ChargePoint by 7.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,251,029 shares of the company’s stock valued at $4,454,000 after acquiring an additional 219,426 shares during the period. Finally, Stifel Financial Corp raised its holdings in ChargePoint by 15.5% during the third 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 in the last quarter. 37.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ChargePoint

In related news, CFO Mansi Khetani sold 22,038 shares of ChargePoint stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $25,123.32. Following the completion of the sale, the chief financial officer now owns 1,230,305 shares of the company’s stock, valued at approximately $1,402,547.70. This trade represents a 1.76 % 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 28,536 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $1.14, for a total value of $32,531.04. Following the completion of the transaction, the chief accounting officer now directly owns 362,060 shares in the company, valued at approximately $412,748.40. The trade was a 7.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 87,148 shares of company stock valued at $99,349 in the last 90 days. 3.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on CHPT. Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a research note on Thursday, December 5th. JPMorgan Chase & Co. lowered ChargePoint from an “overweight” rating to an “underweight” rating in a report on Thursday, October 3rd. Benchmark reissued a “buy” rating and issued a $3.00 price target on shares of ChargePoint in a report on Wednesday, November 20th. UBS Group lowered their price objective on shares of ChargePoint from $1.50 to $1.30 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Finally, Royal Bank of Canada cut their target price on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2.46.

ChargePoint Stock Performance

Shares of CHPT stock opened at $1.01 on Friday. The company has a market capitalization of $444.55 million, a price-to-earnings ratio of -1.36 and a beta of 1.70. ChargePoint Holdings, Inc. has a 1-year low of $0.92 and a 1-year high of $2.44. 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 stock’s fifty day simple moving average is $1.15 and its 200-day simple moving average is $1.43.

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.