ChargePoint Holdings, Inc. (NYSE:CHPT) Shares Purchased by Inspire Investing LLC

Inspire Investing LLC grew its position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 25.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 375,860 shares of the company’s stock after acquiring an additional 75,362 shares during the quarter. Inspire Investing LLC owned about 0.08% of ChargePoint worth $402,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new stake in ChargePoint during the 2nd quarter worth $13,007,000. Erste Asset Management GmbH purchased a new stake in shares of ChargePoint in the third quarter worth about $2,570,000. AQR Capital Management LLC acquired a new stake in shares of ChargePoint in the second quarter valued at about $1,310,000. Geode Capital Management LLC raised its holdings in shares of ChargePoint by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company’s stock valued at $12,432,000 after buying an additional 399,070 shares during the period. Finally, XTX Topco Ltd raised its holdings in shares of ChargePoint by 1,141.0% during the 3rd quarter. XTX Topco Ltd now owns 308,786 shares of the company’s stock valued at $423,000 after buying an additional 283,904 shares during the period. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jagdeep Ca Singh sold 36,574 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total transaction of $41,694.36. Following the completion of the transaction, the insider now owns 1,161,430 shares of the company’s stock, valued at approximately $1,324,030.20. The trade was a 3.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Henrik Gerdes sold 28,536 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $32,531.04. Following the completion of the sale, the chief accounting officer now directly owns 362,060 shares in the company, valued at approximately $412,748.40. This trade represents a 7.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 87,148 shares of company stock valued at $99,349. Company insiders own 3.50% of the company’s stock.

ChargePoint Stock Performance

ChargePoint stock opened at $1.01 on Friday. The company has a market cap of $444.55 million, a PE ratio of -1.36 and a beta of 1.70. ChargePoint Holdings, Inc. has a 12 month low of $0.92 and a 12 month high of $2.44. The company has a fifty day moving average price of $1.15 and a two-hundred day moving average price of $1.43. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.24.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Stifel Nicolaus lowered their price objective on shares of ChargePoint from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Benchmark reaffirmed a “buy” rating and set a $3.00 price target on shares of ChargePoint in a research note on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a research report on Thursday, December 5th. JPMorgan Chase & Co. lowered ChargePoint from an “overweight” rating to an “underweight” rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reduced their price target on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a report on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ChargePoint has a consensus rating of “Hold” and a consensus target price of $2.46.

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.