ChargePoint Holdings, Inc. (NYSE:CHPT) Shares Purchased by Invesco Ltd.

Invesco Ltd. grew its position in ChargePoint Holdings, Inc. (NYSE:CHPT - Free Report) by 13.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,029,849 shares of the company's stock after acquiring an additional 583,761 shares during the quarter. Invesco Ltd. owned about 1.14% of ChargePoint worth $5,382,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CHPT. Geode Capital Management LLC lifted its position in ChargePoint by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company's stock worth $12,432,000 after acquiring an additional 399,070 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of ChargePoint by 61.1% during the fourth quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company's stock worth $48,000 after purchasing an additional 17,075 shares during the period. Raymond James Financial Inc. purchased a new position in ChargePoint in the 4th quarter valued at $354,000. Corient Private Wealth LLC raised its position in ChargePoint by 96.9% during the 4th quarter. Corient Private Wealth LLC now owns 65,765 shares of the company's stock worth $70,000 after buying an additional 32,364 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of ChargePoint in the 3rd quarter worth $117,000. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group cut their target price on ChargePoint from $0.75 to $0.50 and set a "sell" rating for the company in a research note on Thursday, April 10th. Stifel Nicolaus reduced their target price on ChargePoint from $2.00 to $1.00 and set a "hold" rating for the company in a report on Monday, March 10th. UBS Group lowered their target price on shares of ChargePoint from $0.70 to $0.65 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Evercore ISI lowered ChargePoint from an "outperform" rating to an "in-line" rating and decreased their price target for the stock from $4.00 to $1.00 in a research note on Monday, March 31st. Finally, Needham & Company LLC reissued a "hold" rating on shares of ChargePoint in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $1.52.

ChargePoint Trading Up 3.9 %

Shares of CHPT stock traded up $0.02 during mid-day trading on Thursday, hitting $0.65. 2,064,761 shares of the company's stock were exchanged, compared to its average volume of 17,128,465. The stock has a market cap of $296.46 million, a price-to-earnings ratio of -0.88 and a beta of 2.05. The stock has a 50-day simple moving average of $0.64 and a two-hundred day simple moving average of $0.95. ChargePoint Holdings, Inc. has a fifty-two week low of $0.51 and a fifty-two 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 announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. The company had revenue of $101.89 million for the quarter, compared to analysts' expectations of $100.99 million. Equities analysts expect that ChargePoint Holdings, Inc. will post -0.57 EPS for the current fiscal year.

ChargePoint 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.