ChargePoint Holdings, Inc. (NYSE:CHPT) Stake Lifted by Arizona State Retirement System

Posted by Defense World Staff on May 18th, 2023

Arizona State Retirement System increased its stake in ChargePoint Holdings, Inc. (NYSE:CHPT – Get Rating) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,804 shares of the company’s stock after acquiring an additional 2,165 shares during the period. Arizona State Retirement System’s holdings in ChargePoint were worth $589,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. State Board of Administration of Florida Retirement System boosted its holdings in shares of ChargePoint by 1.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 184,859 shares of the company’s stock valued at $1,762,000 after acquiring an additional 1,890 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in ChargePoint by 9.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 261,382 shares of the company’s stock valued at $2,490,000 after purchasing an additional 23,011 shares during the last quarter. LPL Financial LLC lifted its stake in ChargePoint by 3.0% during the fourth quarter. LPL Financial LLC now owns 241,821 shares of the company’s stock valued at $2,305,000 after purchasing an additional 7,146 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in ChargePoint by 2.4% during the fourth quarter. Handelsbanken Fonder AB now owns 1,975,946 shares of the company’s stock valued at $18,831,000 after purchasing an additional 46,646 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in ChargePoint by 73.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 140,426 shares of the company’s stock valued at $1,338,000 after purchasing an additional 59,262 shares during the last quarter. 44.87% of the stock is currently owned by institutional investors.

Insider Transactions at ChargePoint

In other news, insider Richard Wilmer sold 4,312 shares of the stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $9.40, for a total transaction of $40,532.80. Following the transaction, the insider now owns 658,018 shares in the company, valued at approximately $6,185,369.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Richard Wilmer sold 4,312 shares of the stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $9.40, for a total transaction of $40,532.80. Following the transaction, the insider now owns 658,018 shares in the company, valued at approximately $6,185,369.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Rex S. Jackson sold 14,476 shares of the firm’s stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $9.40, for a total transaction of $136,074.40. Following the completion of the transaction, the chief financial officer now owns 1,086,469 shares in the company, valued at $10,212,808.60. The disclosure for this sale can be found here. Insiders have sold a total of 409,610 shares of company stock worth $3,516,846 in the last 90 days. 23.64% of the stock is owned by insiders.

ChargePoint Stock Up 4.0 %

CHPT stock opened at $8.33 on Thursday. ChargePoint Holdings, Inc. has a 12-month low of $7.90 and a 12-month high of $19.92. The company has a quick ratio of 2.23, a current ratio of 2.48 and a debt-to-equity ratio of 0.83. The company has a market cap of $2.92 billion, a price-to-earnings ratio of -8.09 and a beta of 1.69. The company has a 50 day moving average of $9.17 and a two-hundred day moving average of $10.57.

ChargePoint (NYSE:CHPT – Get Rating) last released its earnings results on Thursday, March 2nd. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.03. ChargePoint had a negative net margin of 73.59% and a negative return on equity of 82.84%. The company had revenue of $152.83 million during the quarter, compared to the consensus estimate of $164.31 million. On average, equities analysts anticipate that ChargePoint Holdings, Inc. will post -0.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on CHPT shares. Guggenheim started coverage on shares of ChargePoint in a research note on Tuesday, May 2nd. They set a “neutral” rating for the company. Stifel Nicolaus cut their target price on shares of ChargePoint from $25.00 to $17.00 in a research note on Tuesday, April 25th. Janney Montgomery Scott initiated coverage on shares of ChargePoint in a research note on Friday, February 24th. They set a “buy” rating for the company. JPMorgan Chase & Co. reduced their price target on shares of ChargePoint from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, March 3rd. Finally, The Goldman Sachs Group initiated coverage on shares of ChargePoint in a research report on Tuesday, March 21st. They issued a “neutral” rating and a $10.00 price target for the company. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, ChargePoint has a consensus rating of “Moderate Buy” and an average target price of $17.68.

ChargePoint Company Profile

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ChargePoint Holdings, Inc provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. The company was founded in 2007 and is headquartered in Campbell, California.