UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Position in ChargePoint Holdings, Inc. (NYSE:CHPT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPT - Free Report) by 55.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 about 0.17% of ChargePoint worth $818,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Jones Financial Companies Lllp lifted 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 worth $48,000 after buying an additional 17,075 shares in the last quarter. Swiss National Bank raised its holdings in ChargePoint by 2.2% in the 4th quarter. Swiss National Bank now owns 806,400 shares of the company's stock valued at $863,000 after acquiring an additional 17,600 shares during the period. MetLife Investment Management LLC increased its holdings in shares of ChargePoint by 9.8% during the fourth quarter. MetLife Investment Management LLC now owns 251,168 shares of the company's stock worth $269,000 after purchasing an additional 22,369 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of ChargePoint by 9.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 273,140 shares of the company's stock worth $293,000 after purchasing an additional 23,370 shares during the period. Finally, Brevan Howard Capital Management LP bought a new position in shares of ChargePoint during the fourth quarter worth approximately $27,000. 37.77% of the stock is currently owned by institutional investors and hedge funds.

ChargePoint Stock Down 6.9%

Shares of NYSE:CHPT traded down $0.05 during midday trading on Friday, hitting $0.71. 15,096,151 shares of the company's stock were exchanged, compared to its average volume of 17,493,821. ChargePoint Holdings, Inc. has a 12 month low of $0.51 and a 12 month high of $2.44. The company has a market cap of $326.70 million, a PE ratio of -0.96 and a beta of 2.25. The stock has a 50 day moving average price of $0.67 and a 200-day moving average price of $0.83. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.24.

ChargePoint (NYSE:CHPT - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The firm 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 quarter last year, the firm posted ($0.11) earnings per share. On average, sell-side analysts anticipate that ChargePoint Holdings, Inc. will post -0.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CHPT has been the topic of a number of recent analyst reports. UBS Group decreased their price objective on shares of ChargePoint from $0.70 to $0.65 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Royal Bank of Canada reiterated a "sector perform" rating and set a $1.00 price target on shares of ChargePoint in a report on Thursday, June 5th. Stifel Nicolaus cut their price target on shares of ChargePoint from $2.00 to $1.00 and set a "hold" rating on the stock in a report on Monday, March 10th. The Goldman Sachs Group dropped their target price on shares of ChargePoint from $0.75 to $0.50 and set a "sell" rating on the stock in a report on Thursday, April 10th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ChargePoint in a research note on Thursday, June 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ChargePoint currently has an average 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.