Erste Asset Management GmbH Reduces Holdings in ChargePoint Holdings, Inc. (NYSE:CHPT)

Erste Asset Management GmbH decreased its holdings in ChargePoint Holdings, Inc. (NYSE:CHPT) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,743,383 shares of the company’s stock after selling 132,350 shares during the quarter. Erste Asset Management GmbH owned approximately 0.39% of ChargePoint worth $1,986,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CHPT. Swiss National Bank boosted its holdings in ChargePoint by 2.2% in the fourth quarter. Swiss National Bank now owns 806,400 shares of the company’s stock worth $863,000 after purchasing an additional 17,600 shares during the period. Marathon Trading Investment Management LLC increased its holdings in shares of ChargePoint by 151.6% during the fourth quarter. Marathon Trading Investment Management LLC now owns 139,400 shares of the company’s stock valued at $149,000 after purchasing an additional 84,000 shares during the period. Prescott Group Capital Management L.L.C. bought a new stake in shares of ChargePoint during the 4th quarter worth about $171,000. Callan Family Office LLC bought a new stake in ChargePoint during the fourth quarter worth approximately $45,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of ChargePoint in the fourth quarter valued at $354,000. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on CHPT shares. The Goldman Sachs Group cut their target price on shares of ChargePoint from $1.00 to $0.75 and set a “sell” rating for the company in a research note on Thursday, February 20th. UBS Group set a $1.50 target price on ChargePoint in a research note on Wednesday, March 5th. Stifel Nicolaus dropped their price target on shares of ChargePoint from $2.00 to $1.00 and set a “hold” rating on the stock in a research note on Monday, March 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada reduced their price target on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.03.

Insider Transactions at ChargePoint

In other news, CFO Mansi Khetani sold 22,038 shares of ChargePoint stock in a transaction that occurred on 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. The trade was a 1.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Henrik Gerdes sold 28,536 shares of the business’s 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 $32,531.04. Following the sale, the chief accounting officer now directly owns 362,060 shares of the company’s stock, valued at approximately $412,748.40. This trade represents a 7.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,148 shares of company stock valued at $99,349. Corporate insiders own 3.50% of the company’s stock.

ChargePoint Price Performance

NYSE:CHPT opened at $0.69 on Friday. ChargePoint Holdings, Inc. has a one year low of $0.56 and a one year high of $2.44. The stock has a market cap of $305.22 million, a P/E ratio of -0.93 and a beta of 1.85. The company has a fifty day moving average price of $0.87 and a 200 day moving average price of $1.15. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.24.

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

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.