Northwestern Mutual Wealth Management Co. Purchases 236,063 Shares of ChargePoint Holdings, Inc. $CHPT

Northwestern Mutual Wealth Management Co. boosted its position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 12,808.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 237,906 shares of the company’s stock after buying an additional 236,063 shares during the quarter. Northwestern Mutual Wealth Management Co. owned approximately 1.01% of ChargePoint worth $1,580,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pilgrim Partners Asia Pte Ltd raised its holdings in ChargePoint by 56.4% during the 4th quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company’s stock valued at $57,000 after buying an additional 3,100 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in ChargePoint by 26.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 43,534 shares of the company’s stock valued at $475,000 after buying an additional 9,208 shares during the last quarter. Focus Partners Wealth bought a new stake in ChargePoint during the 1st quarter valued at $27,000. First Trust Advisors LP bought a new stake in ChargePoint during the 3rd quarter valued at $600,000. Finally, Sullivan Wood Capital Management LLC raised its holdings in ChargePoint by 104.6% during the 4th quarter. Sullivan Wood Capital Management LLC now owns 66,500 shares of the company’s stock valued at $442,000 after buying an additional 34,000 shares during the last quarter. 37.77% of the stock is currently owned by institutional investors.

ChargePoint Stock Up 6.6%

Shares of ChargePoint stock opened at $7.81 on Thursday. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 10.73. The company’s fifty day simple moving average is $6.00 and its two-hundred day simple moving average is $6.72. The company has a market cap of $184.73 million, a P/E ratio of -0.84 and a beta of 1.69. ChargePoint Holdings, Inc. has a 12-month low of $4.44 and a 12-month high of $17.78.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CHPT. Wall Street Zen upgraded shares of ChargePoint from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Royal Bank Of Canada reduced their price objective 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. Weiss Ratings reissued a “sell (e+)” rating on shares of ChargePoint in a research report on Monday, April 20th. JPMorgan Chase & Co. reduced their price objective on shares of ChargePoint from $8.00 to $5.00 and set an “underweight” rating on the stock in a research report on Thursday, March 5th. Finally, UBS Group reduced their price objective on shares of ChargePoint from $9.00 to $7.00 and set a “neutral” rating on the stock in a research report on Monday, March 16th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $8.63.

Insider Transactions at ChargePoint

In related news, CEO Richard Wilmer acquired 46,847 shares of ChargePoint stock in a transaction on Monday, April 13th. The shares were acquired at an average cost of $5.34 per share, with a total value of $250,162.98. Following the transaction, the chief executive officer owned 511,224 shares in the company, valued at $2,729,936.16. This trade represents a 10.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 8,685 shares of company stock worth $46,031. 3.50% of the stock is currently owned by insiders.

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.