State Street Corp Grows Stock Holdings in ChargePoint Holdings, Inc. (NYSE:CHPT)

State Street Corp lifted its stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 1.4% during the third quarter, HoldingsChannel.com reports. The firm owned 10,297,421 shares of the company’s stock after purchasing an additional 142,767 shares during the quarter. State Street Corp’s holdings in ChargePoint were worth $14,107,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in CHPT. Stifel Financial Corp increased its holdings in shares of ChargePoint by 15.5% in 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 during the period. Integrated Wealth Concepts LLC increased its holdings in shares of ChargePoint by 144.7% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 50,170 shares of the company’s stock worth $69,000 after buying an additional 29,669 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of ChargePoint by 131.0% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 36,628 shares of the company’s stock worth $50,000 after acquiring an additional 20,773 shares during the last quarter. Erste Asset Management GmbH bought a new position in ChargePoint in the third quarter valued at $2,570,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of ChargePoint by 5.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,722,181 shares of the company’s stock worth $2,359,000 after purchasing an additional 89,234 shares in the last quarter. Hedge funds and other institutional investors own 37.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CHPT shares. The Goldman Sachs Group reduced their target price on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a report on Friday, September 6th. Wolfe Research assumed coverage on ChargePoint in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Capital One Financial raised shares of ChargePoint to a “strong-buy” rating in a research note on Tuesday, September 17th. Evercore ISI dropped their price objective on ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Finally, Benchmark reiterated a “buy” rating and issued a $3.00 price target on shares of ChargePoint in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.46.

Insiders Place Their Bets

In related news, CFO Mansi Khetani sold 22,038 shares of ChargePoint stock in a transaction dated Monday, December 23rd. The shares were 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 in the company, valued at $1,402,547.70. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Henrik Gerdes sold 26,288 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was 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 directly owns 390,596 shares in the company, valued at approximately $515,586.72. This trade represents a 6.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,436 shares of company stock valued at $134,049 over the last 90 days. Insiders own 3.50% of the company’s stock.

ChargePoint Stock Performance

NYSE:CHPT opened at $1.16 on Wednesday. The firm has a market capitalization of $513.12 million, a PE ratio of -1.57 and a beta of 1.69. The stock’s fifty day moving average is $1.22 and its 200 day moving average is $1.51. ChargePoint Holdings, Inc. has a fifty-two week low of $1.05 and a fifty-two week high of $2.68. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.32 and a current ratio of 1.94.

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.