ChargePoint Holdings, Inc. (NYSE:CHPT) Receives $13.56 Average Price Target from Analysts

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have been assigned an average recommendation of “Reduce” from the eleven brokerages that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $13.5556.

A number of analysts recently commented on the stock. UBS Group set a $12.00 target price on shares of ChargePoint and gave the stock a “neutral” rating in a report on Friday, September 19th. JPMorgan Chase & Co. dropped their target price on shares of ChargePoint from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Thursday, September 4th. TD Cowen dropped their target price on shares of ChargePoint from $30.00 to $11.00 and set a “hold” rating on the stock in a report on Thursday, September 4th. Royal Bank Of Canada dropped their target price on shares of ChargePoint from $20.00 to $10.00 and set a “sector perform” rating on the stock in a report on Thursday, September 4th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ChargePoint in a report on Wednesday, October 8th.

Insider Activity

In other news, insider John David Vice sold 2,363 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $11.27, for a total transaction of $26,631.01. Following the sale, the insider owned 123,615 shares in the company, valued at $1,393,141.05. The trade was a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 7,426 shares of company stock worth $83,691 in the last quarter. 3.50% of the stock is owned by insiders.

Institutional Investors Weigh In On ChargePoint

A number of large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings in shares of ChargePoint by 61.8% during the first quarter. Goldman Sachs Group Inc. now owns 3,790,823 shares of the company’s stock valued at $2,293,000 after acquiring an additional 1,448,114 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of ChargePoint by 2.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,423,298 shares of the company’s stock valued at $2,071,000 after acquiring an additional 86,753 shares during the period. AQR Capital Management LLC raised its holdings in shares of ChargePoint by 6,429.1% during the first quarter. AQR Capital Management LLC now owns 2,679,217 shares of the company’s stock valued at $1,553,000 after acquiring an additional 2,638,182 shares during the period. Invesco Ltd. raised its holdings in shares of ChargePoint by 18.4% during the second quarter. Invesco Ltd. now owns 2,483,139 shares of the company’s stock valued at $1,746,000 after acquiring an additional 385,258 shares during the period. Finally, GMT Capital Corp acquired a new stake in shares of ChargePoint during the first quarter valued at approximately $1,226,000. Institutional investors and hedge funds own 37.77% of the company’s stock.

ChargePoint Trading Up 2.9%

Shares of NYSE:CHPT opened at $11.10 on Tuesday. The company has a 50 day moving average of $11.23 and a 200-day moving average of $12.36. The firm has a market cap of $259.09 million, a P/E ratio of -0.95 and a beta of 2.56. ChargePoint has a twelve month low of $8.55 and a twelve month high of $30.00. The company has a current ratio of 1.67, a quick ratio of 1.00 and a debt-to-equity ratio of 4.38.

ChargePoint Company 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.