8,173,886 Shares in ChargePoint Holdings, Inc. (NYSE:CHPT) Bought by Toronto Dominion Bank

Toronto Dominion Bank purchased a new stake in ChargePoint Holdings, Inc. (NYSE:CHPT) during the 4th quarter, Holdings Channel reports. The firm purchased 8,173,886 shares of the company’s stock, valued at approximately $8,746,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in shares of ChargePoint by 5.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 177,375 shares of the company’s stock worth $243,000 after buying an additional 9,519 shares during the last quarter. Jeppson Wealth Management LLC raised its holdings in ChargePoint by 32.8% during the fourth quarter. Jeppson Wealth Management LLC now owns 57,025 shares of the company’s stock worth $61,000 after acquiring an additional 14,085 shares in the last quarter. Jones Financial Companies Lllp boosted its position in ChargePoint by 61.1% during the fourth quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company’s stock valued at $48,000 after purchasing an additional 17,075 shares during the last quarter. Swiss National Bank grew its stake in ChargePoint by 2.2% in the fourth quarter. Swiss National Bank now owns 806,400 shares of the company’s stock valued at $863,000 after purchasing an additional 17,600 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in ChargePoint by 9.8% in the fourth quarter. MetLife Investment Management LLC now owns 251,168 shares of the company’s stock valued at $269,000 after purchasing an additional 22,369 shares in the last quarter. 37.77% of the stock is owned by institutional investors.

ChargePoint Price Performance

Shares of CHPT opened at $0.70 on Wednesday. The company’s 50-day moving average is $0.63 and its 200-day moving average is $0.88. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.24. The firm has a market capitalization of $318.72 million, a PE ratio of -0.94 and a beta of 2.22. ChargePoint Holdings, Inc. has a fifty-two week low of $0.51 and a fifty-two week high of $2.44.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The company had revenue of $101.89 million during the quarter, compared to analyst estimates of $100.99 million. ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. Equities analysts forecast that ChargePoint Holdings, Inc. will post -0.57 EPS for the current year.

Analyst Ratings Changes

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

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.