LGL Partners LLC Makes New $75,000 Investment in ChargePoint Holdings, Inc. (NYSE:CHPT)

LGL Partners LLC purchased a new stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) in the fourth quarter, HoldingsChannel reports. The firm purchased 70,000 shares of the company’s stock, valued at approximately $75,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CHPT. Bank of New York Mellon Corp raised its holdings in shares of ChargePoint by 12.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,231,255 shares of the company’s stock valued at $1,317,000 after buying an additional 141,053 shares during the period. Jeppson Wealth Management LLC grew its position in ChargePoint by 32.8% in the 4th quarter. Jeppson Wealth Management LLC now owns 57,025 shares of the company’s stock valued at $61,000 after acquiring an additional 14,085 shares in the last quarter. Strategic Investment Advisors MI purchased a new stake in ChargePoint during the fourth quarter worth about $46,000. Inspire Investing LLC lifted its position in shares of ChargePoint by 25.1% during the fourth quarter. Inspire Investing LLC now owns 375,860 shares of the company’s stock worth $402,000 after purchasing an additional 75,362 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of ChargePoint by 5.7% in the third quarter. JPMorgan Chase & Co. now owns 177,375 shares of the company’s stock valued at $243,000 after purchasing an additional 9,519 shares during the period. 37.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ChargePoint

In other ChargePoint news, CAO Henrik Gerdes sold 28,536 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total value of $32,531.04. Following the completion of the sale, the chief accounting officer now owns 362,060 shares in the company, valued at approximately $412,748.40. The trade was a 7.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jagdeep Ca Singh sold 36,574 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $41,694.36. Following the transaction, the insider now owns 1,161,430 shares in the company, valued at approximately $1,324,030.20. This trade represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,148 shares of company stock valued at $99,349 over the last ninety days. Insiders own 3.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. UBS Group cut their target price on shares of ChargePoint from $1.50 to $1.30 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Benchmark restated a “buy” rating and set a $3.00 price target on shares of ChargePoint in a report on Wednesday, November 20th. Royal Bank of Canada decreased their price objective on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a research note on Thursday, December 5th. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a research note on Thursday, December 5th. Finally, Stifel Nicolaus decreased their price target on shares of ChargePoint from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ChargePoint presently has an average rating of “Hold” and a consensus price target of $2.41.

ChargePoint Trading Down 2.7 %

Shares of ChargePoint stock opened at $0.63 on Wednesday. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65. The company has a fifty day simple moving average of $0.99 and a 200-day simple moving average of $1.24. The stock has a market cap of $277.79 million, a price-to-earnings ratio of -0.85 and a beta of 1.70. ChargePoint Holdings, Inc. has a 12-month low of $0.56 and a 12-month high of $2.44.

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.