ChargePoint Holdings, Inc. (NYSE:CHPT) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lifted its position in ChargePoint Holdings, Inc. (NYSE:CHPTGet Rating) by 19.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 228,406 shares of the company’s stock after acquiring an additional 37,914 shares during the quarter. Commonwealth Equity Services LLC owned 0.07% of ChargePoint worth $4,540,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Wagner Wealth Management LLC boosted its position in ChargePoint by 236.7% during the 4th quarter. Wagner Wealth Management LLC now owns 1,549 shares of the company’s stock valued at $30,000 after purchasing an additional 1,089 shares during the period. Wealth Advisors Inc. acquired a new position in ChargePoint during the 1st quarter worth $47,000. Cranbrook Wealth Management LLC boosted its position in ChargePoint by 50.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 3,000 shares of the company’s stock worth $57,000 after acquiring an additional 1,000 shares during the period. Monetary Management Group Inc. boosted its position in ChargePoint by 70.0% during the 4th quarter. Monetary Management Group Inc. now owns 4,250 shares of the company’s stock worth $81,000 after acquiring an additional 1,750 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in ChargePoint by 80.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,390 shares of the company’s stock worth $84,000 after acquiring an additional 1,956 shares during the period. Institutional investors and hedge funds own 51.11% of the company’s stock.

Insider Buying and Selling at ChargePoint

In other ChargePoint news, CAO Henrik Gerdes sold 43,606 shares of the business’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $12.07, for a total value of $526,324.42. Following the transaction, the chief accounting officer now owns 121,877 shares in the company, valued at $1,471,055.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Michael D. Hughes sold 25,000 shares of the company’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $15.23, for a total transaction of $380,750.00. Following the completion of the sale, the insider now owns 968,065 shares in the company, valued at approximately $14,743,629.95. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Henrik Gerdes sold 43,606 shares of the company’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $12.07, for a total value of $526,324.42. Following the sale, the chief accounting officer now owns 121,877 shares of the company’s stock, valued at approximately $1,471,055.39. The disclosure for this sale can be found here. Insiders have sold 2,071,034 shares of company stock worth $27,987,675 over the last 90 days. 23.64% of the stock is currently owned by corporate insiders.

ChargePoint Stock Performance

Shares of CHPT stock opened at $15.88 on Friday. ChargePoint Holdings, Inc. has a 1-year low of $8.50 and a 1-year high of $28.72. The company has a current ratio of 3.35, a quick ratio of 3.13 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of -15.88 and a beta of 1.88. The stock’s fifty day simple moving average is $13.68 and its 200-day simple moving average is $14.28.

ChargePoint (NYSE:CHPTGet Rating) last issued its earnings results on Tuesday, May 31st. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). ChargePoint had a negative net margin of 107.29% and a negative return on equity of 53.96%. The firm had revenue of $81.63 million during the quarter, compared to analysts’ expectations of $75.10 million. During the same quarter last year, the firm earned ($0.18) EPS. On average, sell-side analysts predict that ChargePoint Holdings, Inc. will post -0.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CHPT. Evercore ISI reduced their price target on ChargePoint from $28.00 to $24.00 in a research report on Wednesday, June 1st. Tudor, Pickering, Holt & Co. started coverage on ChargePoint in a research note on Thursday, April 21st. They issued a “buy” rating and a $22.00 price objective on the stock. DA Davidson dropped their price objective on ChargePoint from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, June 2nd. Piper Sandler dropped their price objective on ChargePoint from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 1st. Finally, JPMorgan Chase & Co. dropped their price objective on ChargePoint from $22.00 to $18.00 in a research note on Thursday, May 26th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, ChargePoint has a consensus rating of “Moderate Buy” and an average price target of $21.63.

ChargePoint Company Profile

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ChargePoint Holdings, Inc provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. The company was founded in 2007 and is headquartered in Campbell, California.

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Institutional Ownership by Quarter for ChargePoint (NYSE:CHPT)

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