Peak6 LLC Purchases Shares of 140,001 ChargePoint Holdings, Inc. (NYSE:CHPT)

Peak6 LLC acquired a new position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 140,001 shares of the company’s stock, valued at approximately $150,000.

Other large investors also recently made changes to their positions in the company. State Street Corp boosted 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 acquiring an additional 142,767 shares in the last quarter. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 399,070 shares in the last quarter. Franklin Resources Inc. acquired a new stake in ChargePoint in the 3rd quarter valued at $117,000. JPMorgan Chase & Co. increased its stake in ChargePoint by 5.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 177,375 shares of the company’s stock valued at $243,000 after purchasing an additional 9,519 shares in the last quarter. Finally, Inspire Investing LLC raised its holdings in ChargePoint by 25.1% during the fourth quarter. Inspire Investing LLC now owns 375,860 shares of the company’s stock worth $402,000 after buying an additional 75,362 shares during the last quarter. 37.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CHPT. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a report on Wednesday, March 5th. Evercore ISI lowered ChargePoint from an “outperform” rating to an “in-line” rating and decreased their price objective for the stock from $4.00 to $1.00 in a report on Monday, March 31st. UBS Group dropped their target price on ChargePoint from $0.70 to $0.65 and set a “neutral” rating on the stock in a report on Thursday, April 17th. The Goldman Sachs Group decreased their price target on ChargePoint from $0.75 to $0.50 and set a “sell” rating for the company in a report on Thursday, April 10th. Finally, Stifel Nicolaus dropped their price objective on ChargePoint from $2.00 to $1.00 and set a “hold” rating on the stock 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $1.52.

ChargePoint Stock Performance

NYSE CHPT opened at $0.58 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. The company has a market capitalization of $264.98 million, a PE ratio of -0.78 and a beta of 2.05. ChargePoint Holdings, Inc. has a 52-week low of $0.51 and a 52-week high of $2.44. The company has a 50-day simple moving average of $0.66 and a 200 day simple moving average of $0.98.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. The firm had revenue of $101.89 million during the quarter, compared to analysts’ expectations of $100.99 million. On average, research analysts predict that ChargePoint Holdings, Inc. will post -0.57 EPS 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.