Brokerages Set ChargePoint Holdings, Inc. (NYSE:CHPT) Price Target at $2.46

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have earned an average rating of “Hold” from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $2.46.

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of ChargePoint from an “overweight” rating to an “underweight” rating in a report on Thursday, October 3rd. UBS Group reduced their price target on ChargePoint from $1.50 to $1.30 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Wolfe Research began coverage on ChargePoint in a report on Thursday, September 5th. They set a “peer perform” rating for the company. The Goldman Sachs Group reduced their target price on ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a research note on Friday, September 6th. Finally, TD Cowen lowered shares of ChargePoint from a “buy” rating to a “hold” rating and lowered their target price for the company from $3.00 to $2.00 in a research note on Thursday, September 5th.

Insider Activity

In other ChargePoint news, insider Jagdeep Ca Singh sold 36,574 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $41,694.36. Following the sale, the insider now owns 1,161,430 shares of the company’s stock, valued at approximately $1,324,030.20. This trade represents a 3.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mansi Khetani sold 22,038 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total value of $25,123.32. Following the completion of the transaction, the chief financial officer now directly owns 1,230,305 shares of the company’s stock, valued at approximately $1,402,547.70. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,436 shares of company stock worth $134,049. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of ChargePoint

A number of institutional investors have recently modified their holdings of the company. Franklin Resources Inc. acquired a new stake in ChargePoint in the third quarter valued at approximately $117,000. Geode Capital Management LLC boosted its position 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. XTX Topco Ltd grew its stake in ChargePoint by 1,141.0% during the 3rd quarter. XTX Topco Ltd now owns 308,786 shares of the company’s stock worth $423,000 after buying an additional 283,904 shares during the last quarter. State Street Corp increased its position in ChargePoint by 1.4% during the 3rd quarter. State Street Corp now owns 10,297,421 shares of the company’s stock valued at $14,107,000 after buying an additional 142,767 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in ChargePoint by 15.5% in the third quarter. Stifel Financial Corp now owns 2,055,211 shares of the company’s stock worth $2,816,000 after acquiring an additional 275,653 shares in the last quarter. 37.77% of the stock is currently owned by institutional investors.

ChargePoint Trading Up 2.7 %

CHPT stock opened at $1.16 on Wednesday. The firm’s fifty day simple moving average is $1.22 and its two-hundred day simple moving average is $1.51. The stock has a market capitalization of $513.12 million, a price-to-earnings ratio of -1.57 and a beta of 1.69. The company has a quick ratio of 1.32, a current ratio of 1.94 and a debt-to-equity ratio of 1.65. ChargePoint has a twelve month low of $1.05 and a twelve month high of $2.68.

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.