Oppenheimer & Co. Inc. Has $772,000 Stock Position in ChargePoint Holdings, Inc. (NYSE:CHPT)

Oppenheimer & Co. Inc. raised its position in ChargePoint Holdings, Inc. (NYSE:CHPT) by 25.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 563,471 shares of the company’s stock after purchasing an additional 113,989 shares during the quarter. Oppenheimer & Co. Inc. owned approximately 0.13% of ChargePoint worth $772,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CHPT. CIBC Asset Management Inc increased its holdings in ChargePoint by 50.7% in the second quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock worth $26,000 after buying an additional 5,770 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of ChargePoint by 41.4% during the 2nd quarter. Hsbc Holdings PLC now owns 26,397 shares of the company’s stock valued at $39,000 after purchasing an additional 7,723 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of ChargePoint by 6.1% during the 1st quarter. Public Employees Retirement System of Ohio now owns 136,355 shares of the company’s stock valued at $259,000 after purchasing an additional 7,838 shares in the last quarter. PFG Investments LLC boosted its holdings in ChargePoint by 32.2% in the second quarter. PFG Investments LLC now owns 34,102 shares of the company’s stock worth $51,000 after purchasing an additional 8,297 shares in the last quarter. Finally, Jeppson Wealth Management LLC increased its position in ChargePoint by 28.3% during the third quarter. Jeppson Wealth Management LLC now owns 42,940 shares of the company’s stock worth $59,000 after buying an additional 9,480 shares during the last quarter. 37.77% of the stock is owned by institutional investors and hedge funds.

ChargePoint Stock Performance

Shares of ChargePoint stock opened at $1.13 on Wednesday. ChargePoint Holdings, Inc. has a 52-week low of $1.08 and a 52-week high of $3.13. The firm has a market capitalization of $485.53 million, a PE ratio of -1.14 and a beta of 1.70. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.32. The company’s fifty day moving average price is $1.30 and its two-hundred day moving average price is $1.61.

ChargePoint (NYSE:CHPT) last posted its earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.15). The business had revenue of $108.54 million for the quarter, compared to analysts’ expectations of $114.15 million. ChargePoint had a negative net margin of 89.12% and a negative return on equity of 112.67%. On average, analysts expect that ChargePoint Holdings, Inc. will post -0.56 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Stifel Nicolaus reduced their price target on ChargePoint from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Wolfe Research assumed coverage on ChargePoint in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Evercore ISI reduced their price objective on shares of ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. UBS Group lowered their target price on shares of ChargePoint from $1.80 to $1.50 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. lowered shares of ChargePoint from an “overweight” rating to an “underweight” rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $2.47.

Insider Buying and Selling

In related news, CFO Mansi Khetani sold 23,409 shares of ChargePoint stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $1.35, for a total transaction of $31,602.15. Following the completion of the transaction, the chief financial officer now directly owns 849,084 shares of the company’s stock, valued at $1,146,263.40. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard Wilmer sold 27,252 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $1.35, for a total transaction of $36,790.20. Following the completion of the transaction, the chief executive officer now owns 2,304,489 shares in the company, valued at approximately $3,111,060.15. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,803 shares of company stock worth $135,295 in the last 90 days. 3.50% of the stock is owned by company insiders.

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.