Krane Funds Advisors LLC Sells 29,373 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

Krane Funds Advisors LLC lessened its holdings in ChargePoint Holdings, Inc. (NYSE:CHPT) by 12.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 207,257 shares of the company’s stock after selling 29,373 shares during the period. Krane Funds Advisors LLC’s holdings in ChargePoint were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in ChargePoint by 7.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,251,029 shares of the company’s stock valued at $4,454,000 after buying an additional 219,426 shares during the last quarter. FMR LLC grew its position in shares of ChargePoint by 23.4% in the third quarter. FMR LLC now owns 150,705 shares of the company’s stock valued at $206,000 after purchasing an additional 28,602 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in ChargePoint by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 228,799 shares of the company’s stock worth $313,000 after purchasing an additional 128,919 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in ChargePoint by 5.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,722,181 shares of the company’s stock valued at $2,359,000 after buying an additional 89,234 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in ChargePoint by 131.0% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 36,628 shares of the company’s stock worth $50,000 after buying an additional 20,773 shares during the period. Institutional investors and hedge funds own 37.77% of the company’s stock.

Analyst Ratings Changes

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

ChargePoint Stock Performance

NYSE:CHPT opened at $0.58 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $255.23 million, a PE ratio of -0.78 and a beta of 2.05. ChargePoint Holdings, Inc. has a twelve month low of $0.51 and a twelve month high of $2.44. The stock’s 50-day simple moving average is $0.74 and its 200 day simple moving average is $1.05.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.09) earnings per share (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 company had revenue of $101.89 million for the quarter, compared to the consensus estimate of $100.99 million. On average, analysts anticipate that ChargePoint Holdings, Inc. will post -0.57 EPS for the current fiscal 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.