International Assets Investment Management LLC Reduces Stock Holdings in ChargePoint Holdings, Inc. (NYSE:CHPT)

International Assets Investment Management LLC lowered its holdings in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 28.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 43,370 shares of the company’s stock after selling 17,033 shares during the quarter. International Assets Investment Management LLC’s holdings in ChargePoint were worth $49,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Point72 Asset Management L.P. bought a new stake in ChargePoint during the second quarter valued at approximately $13,007,000. Erste Asset Management GmbH purchased a new position in shares of ChargePoint during the 3rd quarter worth $2,570,000. AQR Capital Management LLC bought a new stake in shares of ChargePoint during the 2nd quarter valued at $1,310,000. Skandinaviska Enskilda Banken AB publ increased its stake in shares of ChargePoint by 62.0% in the 2nd 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, Bank of New York Mellon Corp raised its holdings in ChargePoint by 60.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,298,289 shares of the company’s stock worth $1,960,000 after purchasing an additional 487,262 shares during the period. Institutional investors own 37.77% of the company’s stock.

ChargePoint Stock Performance

CHPT opened at $1.05 on Wednesday. The stock has a market capitalization of $462.25 million, a price-to-earnings ratio of -1.41 and a beta of 1.70. ChargePoint Holdings, Inc. has a fifty-two week low of $1.02 and a fifty-two week high of $2.44. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.32 and a current ratio of 1.94. The company has a fifty day moving average of $1.17 and a 200 day moving average of $1.46.

Insider Buying and Selling at ChargePoint

In other news, insider Jagdeep Ca Singh sold 36,574 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $41,694.36. Following the completion of the transaction, the insider now directly owns 1,161,430 shares in the company, valued at approximately $1,324,030.20. This represents a 3.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Henrik Gerdes sold 28,536 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $32,531.04. Following the completion of the sale, the chief accounting officer now owns 362,060 shares in the company, valued at $412,748.40. This represents a 7.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,148 shares of company stock valued at $99,349 in the last 90 days. Insiders own 3.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

ChargePoint 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.