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

Toronto Dominion Bank acquired a new stake in ChargePoint Holdings, Inc. (NYSE:CHPT) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 8,173,886 shares of the company’s stock, valued at approximately $8,746,000. Toronto Dominion Bank owned about 1.85% of ChargePoint as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in CHPT. Brevan Howard Capital Management LP bought a new stake in shares of ChargePoint during the fourth quarter worth approximately $27,000. Cibc World Markets Corp bought a new stake in ChargePoint in the fourth quarter valued at about $40,000. Callan Family Office LLC bought a new stake in ChargePoint in the fourth quarter valued at about $45,000. Strategic Investment Advisors MI acquired a new position in ChargePoint in the fourth quarter valued at about $46,000. Finally, Jones Financial Companies Lllp boosted its holdings in ChargePoint by 61.1% during the fourth quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company’s stock worth $48,000 after buying an additional 17,075 shares during the last quarter. 37.77% of the stock is owned by institutional investors and hedge funds.

ChargePoint Trading Down 0.2%

CHPT opened at $0.70 on Wednesday. The stock has a market capitalization of $318.72 million, a P/E ratio of -0.94 and a beta of 2.22. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65. ChargePoint Holdings, Inc. has a 12 month low of $0.51 and a 12 month high of $2.44. The firm’s fifty day simple moving average is $0.63 and its 200 day simple moving average is $0.88.

ChargePoint (NYSE:CHPT) last issued 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 firm had revenue of $101.89 million during the quarter, compared to the consensus estimate of $100.99 million. ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. As a group, research analysts anticipate that ChargePoint Holdings, Inc. will post -0.57 EPS for the current fiscal year.

Analyst Ratings Changes

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