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

Swiss Life Asset Management Ltd cut its stake in ChargePoint Holdings, Inc. (NYSE:CHPT) by 95.0% in the third quarter, HoldingsChannel reports. The fund owned 19,081 shares of the company’s stock after selling 362,546 shares during the period. Swiss Life Asset Management Ltd’s holdings in ChargePoint were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of CHPT. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of ChargePoint during the 3rd quarter worth approximately $60,000. Sullivan Wood Capital Management LLC purchased a new stake in ChargePoint during the third quarter worth $355,000. BNP Paribas Financial Markets boosted its holdings in ChargePoint by 26.8% during the third quarter. BNP Paribas Financial Markets now owns 43,534 shares of the company’s stock worth $475,000 after buying an additional 9,208 shares in the last quarter. Focus Partners Wealth acquired a new stake in ChargePoint during the first quarter valued at $27,000. Finally, First Trust Advisors LP acquired a new stake in ChargePoint during the third quarter valued at $600,000. Hedge funds and other institutional investors own 37.77% of the company’s stock.

ChargePoint Price Performance

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

Analysts Set New Price Targets

CHPT has been the subject of a number of analyst reports. UBS Group decreased their price objective on shares of ChargePoint from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. The Goldman Sachs Group restated a “sell” rating and issued a $5.00 price target on shares of ChargePoint in a research note on Thursday, January 15th. Royal Bank Of Canada reduced their price target on ChargePoint from $9.00 to $6.50 and set a “sector perform” rating for the company in a report on Thursday, March 5th. JPMorgan Chase & Co. lowered their price target on ChargePoint from $8.00 to $5.00 and set an “underweight” rating on the stock in a research report on Thursday, March 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of ChargePoint in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $9.89.

ChargePoint Profile

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.