Swiss Life Asset Management Ltd Reduces Holdings in ChargePoint Holdings, Inc. $CHPT

Swiss Life Asset Management Ltd lowered its stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 95.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,081 shares of the company’s stock after selling 362,546 shares during the quarter. Swiss Life Asset Management Ltd owned about 0.08% of ChargePoint worth $208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CHPT. AQR Capital Management LLC boosted its stake in ChargePoint by 6,429.1% in the 1st quarter. AQR Capital Management LLC now owns 2,679,217 shares of the company’s stock worth $1,553,000 after purchasing an additional 2,638,182 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in ChargePoint by 61.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,790,823 shares of the company’s stock valued at $2,293,000 after purchasing an additional 1,448,114 shares in the last quarter. Soviero Asset Management LP purchased a new position in shares of ChargePoint in the second quarter worth $633,000. Brevan Howard Capital Management LP acquired a new stake in shares of ChargePoint during the second quarter worth $517,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of ChargePoint during the second quarter worth $518,000. 37.77% of the stock is owned by hedge funds and other institutional investors.

ChargePoint Trading Down 9.4%

Shares of ChargePoint stock opened at $4.70 on Friday. The stock has a market cap of $111.04 million, a PE ratio of -0.50 and a beta of 1.40. The firm has a fifty day moving average price of $5.96 and a 200 day moving average price of $8.13. ChargePoint Holdings, Inc. has a 1 year low of $4.66 and a 1 year high of $17.78. The company has a debt-to-equity ratio of 8.38, a current ratio of 1.59 and a quick ratio of 0.93.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CHPT. Royal Bank Of Canada cut their target price on ChargePoint from $9.00 to $6.50 and set a “sector perform” rating on the stock in a research report on Thursday, March 5th. UBS Group dropped their price target on ChargePoint from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. B. Riley Financial cut their price objective on ChargePoint from $11.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, March 13th. The Goldman Sachs Group restated a “sell” rating and issued a $5.00 price objective on shares of ChargePoint in a research note on Thursday, January 15th. Finally, Roth Mkm set a $8.50 target price on ChargePoint and gave the stock a “neutral” rating in a report on Friday, December 5th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $9.89.

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.