NCP Inc. Grows Stock Position in ChargePoint Holdings, Inc. (NYSE:CHPT)

NCP Inc. boosted its stake in ChargePoint Holdings, Inc. (NYSE:CHPT) by 210.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,500 shares of the company’s stock after acquiring an additional 42,400 shares during the quarter. NCP Inc.’s holdings in ChargePoint were worth $67,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CHPT. Financial Advocates Investment Management acquired a new position in ChargePoint during the 3rd quarter worth $29,000. Strategic Investment Advisors MI bought a new position in shares of ChargePoint during the fourth quarter worth about $46,000. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of ChargePoint by 131.0% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 36,628 shares of the company’s stock worth $50,000 after purchasing an additional 20,773 shares during the last quarter. Jeppson Wealth Management LLC lifted its position in shares of 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 purchasing an additional 9,480 shares during the last quarter. Finally, Ballentine Partners LLC bought a new position in ChargePoint during the 3rd quarter worth approximately $61,000. Hedge funds and other institutional investors own 37.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank of Canada reduced their target price on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating on the stock in a report on Thursday, December 5th. UBS Group reduced their price target on shares of ChargePoint from $1.50 to $1.30 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Benchmark restated a “buy” rating and issued a $3.00 price target on shares of ChargePoint in a research report on Wednesday, November 20th. The Goldman Sachs Group cut their target price on shares of ChargePoint from $1.00 to $0.75 and set a “sell” rating on the stock in a report on Thursday, February 20th. Finally, Stifel Nicolaus cut their target price on shares of ChargePoint from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ChargePoint presently has a consensus rating of “Hold” and a consensus target price of $2.41.

Insiders Place Their Bets

In other ChargePoint news, CFO Mansi Khetani sold 22,038 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $1.14, for a total value of $25,123.32. Following the sale, the chief financial officer now directly owns 1,230,305 shares in the company, valued at approximately $1,402,547.70. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Henrik Gerdes sold 28,536 shares of the business’s 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 owns 362,060 shares in the company, valued at approximately $412,748.40. This trade represents a 7.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,148 shares of company stock worth $99,349. 3.50% of the stock is owned by corporate insiders.

ChargePoint Price Performance

Shares of NYSE CHPT opened at $0.63 on Wednesday. ChargePoint Holdings, Inc. has a fifty-two week low of $0.56 and a fifty-two week high of $2.44. The firm’s 50-day simple moving average is $0.99 and its 200 day simple moving average is $1.24. 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 stock has a market cap of $277.79 million, a P/E ratio of -0.85 and a beta of 1.70.

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.