ChargePoint Holdings, Inc. (NYSE:CHPT) Shares Sold by Raymond James & Associates

Raymond James & Associates lessened its holdings in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 23.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 206,051 shares of the company’s stock after selling 63,694 shares during the quarter. Raymond James & Associates’ holdings in ChargePoint were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of ChargePoint by 12.9% in the 3rd quarter. Vanguard Group Inc. now owns 29,162,249 shares of the company’s stock worth $144,936,000 after purchasing an additional 3,325,694 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of ChargePoint by 418.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,522,247 shares of the company’s stock worth $12,536,000 after acquiring an additional 2,035,496 shares during the last quarter. Cadian Capital Management LP acquired a new stake in shares of ChargePoint during the third quarter worth $4,970,000. Invesco Ltd. lifted its holdings in shares of ChargePoint by 19.2% during the third quarter. Invesco Ltd. now owns 2,193,049 shares of the company’s stock valued at $10,899,000 after purchasing an additional 353,988 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in ChargePoint by 35.2% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 962,300 shares of the company’s stock worth $4,783,000 after purchasing an additional 250,500 shares in the last quarter. Institutional investors and hedge funds own 37.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. DA Davidson reissued a “buy” rating and issued a $4.00 target price on shares of ChargePoint in a research report on Wednesday, March 6th. The Goldman Sachs Group reissued a “sell” rating and set a $1.50 target price (down previously from $2.00) on shares of ChargePoint in a research note on Tuesday, April 9th. Oppenheimer reaffirmed a “market perform” rating on shares of ChargePoint in a research report on Wednesday, March 6th. Needham & Company LLC restated a “buy” rating and set a $3.00 price target on shares of ChargePoint in a research note on Thursday, April 4th. Finally, R. F. Lafferty decreased their price objective on shares of ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.46.

Insider Buying and Selling

In other news, CFO Mansi Khetani sold 19,035 shares of ChargePoint stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total transaction of $35,595.45. Following the sale, the chief financial officer now owns 421,500 shares of the company’s stock, valued at approximately $788,205. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Mansi Khetani sold 19,035 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1.87, for a total transaction of $35,595.45. Following the completion of the transaction, the chief financial officer now directly owns 421,500 shares of the company’s stock, valued at approximately $788,205. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Linse sold 100,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $1.94, for a total transaction of $194,000.00. Following the completion of the transaction, the director now directly owns 1,209,867 shares of the company’s stock, valued at approximately $2,347,141.98. The disclosure for this sale can be found here. Insiders have sold a total of 154,846 shares of company stock valued at $296,562 over the last three months. 12.90% of the stock is owned by corporate insiders.

ChargePoint Stock Up 0.8 %

CHPT opened at $1.27 on Friday. The business has a 50 day moving average of $1.77 and a 200-day moving average of $2.18. The stock has a market capitalization of $530.90 million, a price-to-earnings ratio of -1.02 and a beta of 1.62. The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.87. ChargePoint Holdings, Inc. has a 1-year low of $1.21 and a 1-year high of $10.10.

ChargePoint (NYSE:CHPT) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. ChargePoint had a negative net margin of 90.32% and a negative return on equity of 125.19%. The firm had revenue of $115.83 million during the quarter, compared to the consensus estimate of $126.48 million. As a group, sell-side analysts anticipate that ChargePoint Holdings, Inc. will post -0.63 earnings per share for the current year.

ChargePoint Profile

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.