Coatue Management LLC Reduces Stock Holdings in ChargePoint Holdings, Inc. $CHPT

Coatue Management LLC lowered its holdings in ChargePoint Holdings, Inc. (NYSE:CHPT) by 95.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 154,086 shares of the company’s stock after selling 2,927,666 shares during the quarter. Coatue Management LLC’s holdings in ChargePoint were worth $1,683,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CHPT. Catalyst Funds Management Pty Ltd purchased a new stake in ChargePoint in the second quarter valued at $161,000. XTX Topco Ltd raised its stake in shares of ChargePoint by 75.5% during the 2nd quarter. XTX Topco Ltd now owns 856,654 shares of the company’s stock valued at $602,000 after buying an additional 368,418 shares during the last quarter. Soviero Asset Management LP purchased a new position in shares of ChargePoint during the 2nd quarter valued at about $633,000. Perennial Investment Advisors LLC lifted its holdings in shares of ChargePoint by 36.8% in the 2nd quarter. Perennial Investment Advisors LLC now owns 96,650 shares of the company’s stock valued at $68,000 after buying an additional 26,000 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of ChargePoint by 14.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 283,924 shares of the company’s stock worth $172,000 after buying an additional 36,097 shares during the last quarter. Hedge funds and other institutional investors own 37.77% of the company’s stock.

Insider Buying and Selling at ChargePoint

In other news, CFO Mansi Khetani sold 3,943 shares of ChargePoint stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $6.99, for a total value of $27,561.57. Following the sale, the chief financial officer owned 130,363 shares in the company, valued at $911,237.37. This trade represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jagdeep Ca Singh sold 4,832 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $6.99, for a total transaction of $33,775.68. Following the sale, the insider directly owned 124,627 shares of the company’s stock, valued at $871,142.73. This represents a 3.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 12,670 shares of company stock valued at $88,534. 3.50% of the stock is owned by insiders.

ChargePoint Trading Down 0.8%

Shares of NYSE:CHPT opened at $5.33 on Friday. ChargePoint Holdings, Inc. has a 1 year low of $5.23 and a 1 year high of $17.78. The firm has a market capitalization of $125.95 million, a price-to-earnings ratio of -0.57 and a beta of 1.40. The company has a debt-to-equity ratio of 8.38, a current ratio of 1.59 and a quick ratio of 0.93. The business’s 50 day moving average price is $6.31 and its 200-day moving average price is $8.52.

Analysts Set New Price Targets

Several research analysts recently weighed in on CHPT shares. Roth Mkm set a $8.50 price target on ChargePoint and gave the company a “neutral” rating in a research report on Friday, December 5th. UBS Group reaffirmed a “neutral” rating and set a $9.00 price objective (down from $12.00) on shares of ChargePoint in a research note on Monday, December 22nd. B. Riley Financial cut their target price on shares of ChargePoint from $11.00 to $6.00 and set a “neutral” rating for the company in a report on Friday. Weiss Ratings reissued a “sell (e+)” rating on shares of ChargePoint in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada dropped their price target on shares of ChargePoint from $9.00 to $6.50 and set a “sector perform” rating on the stock in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $10.11.

About ChargePoint

ChargePoint (NYSE: CHPT) is a leading provider of electric vehicle (EV) charging solutions that designs, develops and markets charging hardware, software and services. The company’s portfolio includes Level 2 AC charging stations for residential, commercial and fleet applications, as well as DC fast charging systems suited for retail, hospitality and public use. ChargePoint’s integrated platform enables site hosts to manage charging infrastructure through cloud-based monitoring, analytics and billing tools, while EV drivers access and control charging sessions via a mobile app or RFID card.

Since its founding in 2007 and headquarters in Campbell, California, ChargePoint has built one of the largest open EV charging networks in the world.