Commonwealth Equity Services LLC Sells 53,038 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

Commonwealth Equity Services LLC lowered its stake in ChargePoint Holdings, Inc. (NYSE:CHPT) by 15.0% during the fourth quarter, Holdings Channel reports. The firm owned 300,460 shares of the company’s stock after selling 53,038 shares during the period. Commonwealth Equity Services LLC’s holdings in ChargePoint were worth $321,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp increased its holdings in ChargePoint by 1.4% in the 3rd quarter. State Street Corp now owns 10,297,421 shares of the company’s stock valued at $14,107,000 after buying an additional 142,767 shares during the period. Geode Capital Management LLC boosted its position 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 acquiring an additional 399,070 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in ChargePoint by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,336,545 shares of the company’s stock valued at $3,570,000 after acquiring an additional 85,516 shares during the last quarter. Stifel Financial Corp raised its position in ChargePoint by 15.5% during the third quarter. Stifel Financial Corp now owns 2,055,211 shares of the company’s stock valued at $2,816,000 after purchasing an additional 275,653 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in ChargePoint by 5.5% during the third 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 during the last quarter. Institutional investors and hedge funds own 37.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CHPT shares. The Goldman Sachs Group decreased their price target on ChargePoint from $1.00 to $0.75 and set a “sell” rating on the stock in a research note on Thursday, February 20th. Evercore ISI cut ChargePoint from an “outperform” rating to an “in-line” rating and decreased their target price for the company from $4.00 to $1.00 in a research report on Monday, March 31st. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a research note on Wednesday, March 5th. UBS Group set a $1.50 price target on shares of ChargePoint in a report on Wednesday, March 5th. Finally, Stifel Nicolaus dropped their price objective on shares of ChargePoint from $2.00 to $1.00 and set a “hold” rating for the company in a research note on Monday, March 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ChargePoint has a consensus rating of “Hold” and an average target price of $1.66.

ChargePoint Price Performance

CHPT stock opened at $0.59 on Tuesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.24 and a current ratio of 1.94. ChargePoint Holdings, Inc. has a 52-week low of $0.51 and a 52-week high of $2.44. The company has a market capitalization of $260.98 million, a P/E ratio of -0.80 and a beta of 2.05. The company has a fifty day moving average price of $0.73 and a 200-day moving average price of $1.04.

ChargePoint (NYSE:CHPT) last announced its earnings results on Tuesday, March 4th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $101.89 million for the quarter, compared to analyst estimates of $100.99 million. ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. As a group, equities analysts expect that ChargePoint Holdings, Inc. will post -0.57 EPS for the current year.

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.