Healthcare of Ontario Pension Plan Trust Fund Increases Position in ChargePoint Holdings, Inc. (NYSE:CHPT)

Healthcare of Ontario Pension Plan Trust Fund lifted its stake in ChargePoint Holdings, Inc. (NYSE:CHPT) by 32.7% in the 1st quarter, HoldingsChannel reports. The fund owned 443,263 shares of the company’s stock after purchasing an additional 109,309 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in ChargePoint were worth $842,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in ChargePoint by 26.3% in the first quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock worth $69,708,000 after purchasing an additional 7,645,210 shares in the last quarter. Norges Bank acquired a new stake in ChargePoint in the fourth quarter valued at approximately $9,733,000. Quadrature Capital Ltd purchased a new position in ChargePoint in the fourth quarter worth $1,257,000. Cowen AND Company LLC acquired a new position in shares of ChargePoint during the fourth quarter worth $709,000. Finally, Bouvel Investment Partners LLC lifted its holdings in shares of ChargePoint by 138.8% during the 1st quarter. Bouvel Investment Partners LLC now owns 303,264 shares of the company’s stock valued at $576,000 after purchasing an additional 176,246 shares during the last quarter. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on CHPT shares. Needham & Company LLC restated a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research note on Thursday, June 6th. TD Cowen lowered their price target on ChargePoint from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, June 6th. Benchmark cut their price objective on shares of ChargePoint from $4.25 to $3.00 and set a “buy” rating on the stock in a report on Friday, June 28th. B. Riley upgraded shares of ChargePoint to a “hold” rating in a research note on Tuesday, June 25th. Finally, The Goldman Sachs Group restated a “sell” rating and set a $1.50 price target (down previously from $2.00) on shares of ChargePoint in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, ChargePoint presently has a consensus rating of “Hold” and a consensus target price of $4.88.

ChargePoint Trading Up 4.7 %

CHPT opened at $2.02 on Friday. The company has a fifty day moving average of $1.76 and a two-hundred day moving average of $1.80. ChargePoint Holdings, Inc. has a fifty-two week low of $1.21 and a fifty-two week high of $8.68. The company has a quick ratio of 1.45, a current ratio of 2.13 and a debt-to-equity ratio of 1.02.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings results on Wednesday, June 5th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.03. ChargePoint had a negative return on equity of 127.18% and a negative net margin of 93.05%. The firm had revenue of $107.04 million during the quarter, compared to analyst estimates of $106.09 million. As a group, analysts forecast that ChargePoint Holdings, Inc. will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling

In other ChargePoint news, CEO Richard Wilmer sold 27,722 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $1.40, for a total value of $38,810.80. Following the completion of the sale, the chief executive officer now owns 2,331,740 shares in the company, valued at approximately $3,264,436. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Mansi Khetani sold 19,007 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $1.40, for a total value of $26,609.80. Following the completion of the sale, the chief financial officer now owns 402,493 shares of the company’s stock, valued at $563,490.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard Wilmer sold 27,722 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $1.40, for a total transaction of $38,810.80. Following the sale, the chief executive officer now owns 2,331,740 shares of the company’s stock, valued at $3,264,436. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,099 shares of company stock worth $137,498. 3.50% of the stock is owned by insiders.

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.