The Vanguard Group, Inc. recently announced the acquisition of new stake in ChargePoint Holdings Inc (NYSE:CHPT). The institutional investor has increased its shareholding in the Consumer Cyclical company by 12.86% to 28.71 million shares with purchase of 3.27 million shares. This fresh investment now brings its stake to 7.97% valued currently at $57.76 million. In addition, BlackRock Fund Advisors raised its holdings by 1.36 million to 14.62 million shares. And Citigroup Global Markets, Inc. has lifted its position by 14.81% or 0.8 million shares – to 6.23 million shares.
With over 38.17 million ChargePoint Holdings Inc (CHPT) shares trading Friday and a closing price of $2.72 on the day, the dollar volume was approximately $103.83 million. The shares have shown a negative half year performance of -69.37% and its price on 12/15/23 lost nearly -6.21%. Currently, there are 348.33M common shares owned by the public and among those 325.74M shares have been available to trade.
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Insiders at the company have transacted a total of 206 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 80 of these insider trades were purchases, accounting for 6,951,003 shares. Insider sales of the common stock occurred on 126 occasions, with total insider shares sold totaling 25,569,367 shares.
The top 3 mutual fund holders in ChargePoint Holdings Inc are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and Canada Pension Plan. Vanguard Total Stock Market ETF owns 9.94 million shares of the company’s stock, all valued at over $19.99 million. The company sold -0.39 million shares recently to bring their total holdings to about 2.76% of the shares outstanding. Vanguard Small Cap Index Fund bought 3972.0 shares to see its total holdings expand to 8.2 million shares valued at over $16.5 million and representing 2.28% of the shares outstanding. Canada Pension Plan sold -0.3 million shares to bring its total holdings to over 7.5 million shares at a value of $15.09 million. Canada Pension Plan now owns shares totaling to 2.08% of the shares outstanding.
Shares of ChargePoint Holdings Inc (NYSE: CHPT) opened at $3.02, up $0.12 from a prior closing price of $2.90. However, the script later moved the day high at 3.1300, down -6.21%. The company’s stock has a 5-day price change of 15.74% and -49.35% over the past three months. CHPT shares are trading -71.46% year to date (YTD), with the 12-month market performance down to -75.84% lower. It has a 12-month low price of $1.79 and touched a high of $13.65 over the same period. CHPT has an average intraday trading volume of 19.97 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 24.80%, -1.10%, and -60.32% respectively.
Institutional ownership of ChargePoint Holdings Inc (NYSE: CHPT) shares accounts for 33.56% of the company’s 348.33M shares outstanding. Mutual fund holders own 20.67%, while other institutional holders and individual stakeholders account for 24.44% and 18.37% respectively.
It has a market capitalization of $1.14B and a beta (3y monthly) value of 1.66. The earnings-per-share (ttm) stands at -$1.23. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.05% over the week and 10.53% over the month.
Analysts forecast that ChargePoint Holdings Inc (CHPT) will achieve an EPS of -$0.13 for the current quarter, -$0.12 for the next quarter and -$0.3 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.23 while analysts give the company a high EPS estimate of -$0.02. Comparatively, EPS for the current quarter was -$0.13 a year ago. Earnings per share for the fiscal year are expected to decrease by -72.88%, and 43.49% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 23 brokerage firm advisors rate ChargePoint Holdings Inc (CHPT) as a “Moderate Buy” at a consensus score of 2.39. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 14 of the 23 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the CHPT, a number of firms have released research notes about the stock. B. Riley Securities stated their Neutral rating for the stock in a research note on December 07, 2023, with the firm’s price target at $5-$2.50.
