Coatue Management LLC Makes New $72.88 Million Investment in ChargePoint Holdings, Inc. (NYSE:CHPT)

Coatue Management LLC bought a new position in ChargePoint Holdings, Inc. (NYSE:CHPT) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,097,807 shares of the company’s stock, valued at approximately $72,878,000. Coatue Management LLC owned about 0.68% of ChargePoint as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of CHPT. Winch Advisory Services LLC bought a new stake in shares of ChargePoint during the 2nd quarter valued at about $29,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of ChargePoint during the 1st quarter valued at about $27,000. Financial Insights Inc. bought a new stake in shares of ChargePoint during the 2nd quarter valued at about $35,000. Focused Wealth Management Inc grew its stake in shares of ChargePoint by 1,754.0% during the 2nd quarter. Focused Wealth Management Inc now owns 1,168 shares of the company’s stock valued at $41,000 after purchasing an additional 1,105 shares during the period. Finally, Wagner Wealth Management LLC bought a new stake in shares of ChargePoint during the 1st quarter valued at about $32,000. 31.26% of the stock is owned by institutional investors and hedge funds.

In other ChargePoint news, CFO Rex S. Jackson sold 10,901 shares of the stock in a transaction dated Wednesday, September 22nd. The stock was sold at an average price of $20.15, for a total value of $219,655.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Colleen Jansen sold 49,429 shares of the stock in a transaction dated Tuesday, September 28th. The shares were sold at an average price of $20.59, for a total value of $1,017,743.11. The disclosure for this sale can be found here. Insiders have sold a total of 11,366,151 shares of company stock worth $266,472,655 in the last three months. Corporate insiders own 39.50% of the company’s stock.

A number of research analysts recently issued reports on CHPT shares. Jefferies Financial Group cut their price objective on ChargePoint from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, September 2nd. DA Davidson started coverage on ChargePoint in a research note on Wednesday, July 28th. They set a “buy” rating and a $30.00 price objective for the company. The Goldman Sachs Group started coverage on ChargePoint in a research note on Monday, August 2nd. They set a “neutral” rating and a $24.00 price objective for the company. Cowen boosted their price objective on ChargePoint from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, June 23rd. Finally, Needham & Company LLC dropped their price target on ChargePoint from $39.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, September 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $32.73.

ChargePoint stock traded down $0.04 during mid-day trading on Thursday, hitting $19.96. The company’s stock had a trading volume of 54,892 shares, compared to its average volume of 9,929,845. The company has a 50 day moving average of $21.33 and a 200-day moving average of $24.62. ChargePoint Holdings, Inc. has a one year low of $12.75 and a one year high of $49.48.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings data on Tuesday, August 31st. The company reported ($0.13) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). The business had revenue of $56.12 million during the quarter, compared to the consensus estimate of $49.06 million. The business’s revenue was up 60.5% compared to the same quarter last year. During the same period last year, the company earned ($6.97) EPS. As a group, research analysts anticipate that ChargePoint Holdings, Inc. will post -0.71 earnings per share for the current year.

ChargePoint Company Profile

ChargePoint Holdings, Inc provides electric vehicle (EV) charging networks and charging solutions in the United States. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. The company was founded in 2007 and is headquartered in Campbell, California.

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Institutional Ownership by Quarter for ChargePoint (NYSE:CHPT)

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