Toronto Dominion Bank Acquires Shares of 8,173,886 ChargePoint Holdings, Inc. (NYSE:CHPT)

Toronto Dominion Bank purchased a new position in ChargePoint Holdings, Inc. (NYSE:CHPT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,173,886 shares of the company's stock, valued at approximately $8,746,000. Toronto Dominion Bank owned approximately 1.85% of ChargePoint at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CHPT. Brevan Howard Capital Management LP acquired a new stake in ChargePoint in the fourth quarter valued at approximately $27,000. Cibc World Markets Corp purchased a new stake in shares of ChargePoint during the 4th quarter valued at $40,000. Callan Family Office LLC acquired a new stake in shares of ChargePoint in the 4th quarter worth $45,000. Strategic Investment Advisors MI purchased a new position in ChargePoint during the 4th quarter worth $46,000. Finally, Jones Financial Companies Lllp increased its position in ChargePoint by 61.1% during the 4th quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company's stock valued at $48,000 after buying an additional 17,075 shares in the last quarter. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CHPT has been the subject of several recent analyst reports. The Goldman Sachs Group lowered their price target on ChargePoint from $0.75 to $0.50 and set a "sell" rating for the company in a report on Thursday, April 10th. Evercore ISI cut shares of ChargePoint from an "outperform" rating to an "in-line" rating and lowered their target price for the stock from $4.00 to $1.00 in a research note on Monday, March 31st. Stifel Nicolaus dropped their target price on shares of ChargePoint from $2.00 to $1.00 and set a "hold" rating on the stock in a research report on Monday, March 10th. Needham & Company LLC reaffirmed a "hold" rating on shares of ChargePoint in a report on Wednesday, March 5th. Finally, UBS Group lowered their price objective on shares of ChargePoint from $0.70 to $0.65 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ChargePoint presently has an average rating of "Hold" and an average target price of $1.52.

ChargePoint Stock Performance

NYSE CHPT traded down $0.01 on Monday, hitting $0.72. 12,350,414 shares of the company's stock traded hands, compared to its average volume of 16,899,397. The firm's 50-day moving average price is $0.63 and its two-hundred day moving average price is $0.87. The firm has a market capitalization of $331.74 million, a PE ratio of -0.98 and a beta of 2.22. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65. ChargePoint Holdings, Inc. has a 1-year low of $0.51 and a 1-year high of $2.44.

ChargePoint (NYSE:CHPT - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.01). The business had revenue of $101.89 million for the quarter, compared to analyst estimates of $100.99 million. ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. As a group, analysts expect that ChargePoint Holdings, Inc. will post -0.57 EPS for the current year.

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.