UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 957,840 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPT - Free Report) by 55.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 764,341 shares of the company's stock after selling 957,840 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.17% of ChargePoint worth $818,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Brevan Howard Capital Management LP bought a new position in shares of ChargePoint in the fourth quarter valued at approximately $27,000. Cibc World Markets Corp purchased a new stake in ChargePoint in the 4th quarter worth approximately $40,000. Callan Family Office LLC bought a new position in ChargePoint in the 4th quarter valued at $45,000. Jones Financial Companies Lllp boosted its holdings in ChargePoint by 61.1% in the 4th quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company's stock valued at $48,000 after purchasing an additional 17,075 shares during the period. Finally, Perennial Investment Advisors LLC grew its position in shares of ChargePoint by 175.3% during the 4th quarter. Perennial Investment Advisors LLC now owns 54,650 shares of the company's stock valued at $58,000 after purchasing an additional 34,800 shares in the last quarter. Hedge funds and other institutional investors own 37.77% of the company's stock.

ChargePoint Price Performance

Shares of NYSE CHPT traded down $0.00 during trading hours on Thursday, reaching $0.79. 4,538,474 shares of the stock traded hands, compared to its average volume of 17,419,826. The company's 50-day simple moving average is $0.66 and its two-hundred day simple moving average is $0.84. The company has a market capitalization of $359.96 million, a P/E ratio of -1.06 and a beta of 2.25. ChargePoint Holdings, Inc. has a 52-week low of $0.51 and a 52-week high of $2.44. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 1.65.

ChargePoint (NYSE:CHPT - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The business had revenue of $97.64 million for the quarter, compared to analysts' expectations of $100.43 million. ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. During the same period last year, the business posted ($0.11) earnings per share. Equities research analysts forecast that ChargePoint Holdings, Inc. will post -0.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CHPT. Evercore ISI downgraded ChargePoint from an "outperform" rating to an "in-line" rating and lowered their price objective for the stock from $4.00 to $1.00 in a research report on Monday, March 31st. Royal Bank of Canada restated a "sector perform" rating and issued a $1.00 target price on shares of ChargePoint in a research note on Thursday, June 5th. The Goldman Sachs Group lowered their price target on ChargePoint from $0.75 to $0.50 and set a "sell" rating on the stock in a report on Thursday, April 10th. UBS Group dropped their price target on ChargePoint from $0.70 to $0.65 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, Needham & Company LLC restated a "hold" rating on shares of ChargePoint in a research report on Thursday, June 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ChargePoint currently has a consensus rating of "Hold" and a consensus target price of $1.39.

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.