Foundations Investment Advisors LLC Takes Position in ChargePoint Holdings, Inc. (NYSE:CHPT)

Foundations Investment Advisors LLC bought a new stake in ChargePoint Holdings, Inc. (NYSE:CHPTGet Rating) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 12,650 shares of the company’s stock, valued at approximately $157,000.

Several other institutional investors also recently modified their holdings of the business. Wagner Wealth Management LLC grew its holdings in ChargePoint by 236.7% during the fourth 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. bought a new position in ChargePoint during the first quarter valued at $47,000. Clearstead Advisors LLC grew its holdings in ChargePoint by 173.6% during the first quarter. Clearstead Advisors LLC now owns 2,599 shares of the company’s stock valued at $52,000 after purchasing an additional 1,649 shares during the period. HBC Financial Services PLLC bought a new position in ChargePoint during the first quarter valued at $53,000. Finally, Cranbrook Wealth Management LLC grew its holdings in ChargePoint by 50.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 3,000 shares of the company’s stock valued at $57,000 after purchasing an additional 1,000 shares during the period. 45.88% of the stock is owned by institutional investors.

ChargePoint Trading Down 6.6 %

Shares of CHPT stock opened at $17.97 on Monday. The company has a current ratio of 2.85, a quick ratio of 2.62 and a debt-to-equity ratio of 0.75. ChargePoint Holdings, Inc. has a 52-week low of $8.50 and a 52-week high of $28.72. The business’s fifty day moving average is $15.30 and its 200 day moving average is $14.89.

ChargePoint (NYSE:CHPTGet Rating) last released its earnings results on Tuesday, August 30th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.02). The firm had revenue of $108.29 million during the quarter, compared to the consensus estimate of $103.03 million. ChargePoint had a negative net margin of 92.93% and a negative return on equity of 61.79%. The firm’s revenue was up 93.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.24) EPS. Equities research analysts forecast that ChargePoint Holdings, Inc. will post -0.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CHPT has been the subject of several research reports. Piper Sandler reduced their price objective on ChargePoint from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, June 1st. Citigroup dropped their target price on ChargePoint from $17.00 to $15.50 in a research report on Wednesday, June 1st. JPMorgan Chase & Co. increased their target price on ChargePoint from $18.00 to $20.00 in a research report on Tuesday, August 23rd. Stifel Nicolaus dropped their target price on ChargePoint from $32.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, June 22nd. Finally, B. Riley initiated coverage on ChargePoint in a research report on Friday, June 17th. They set a “buy” rating and a $20.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.13.

Insider Activity at ChargePoint

In related news, CMO Colleen Jansen sold 14,000 shares of the stock in a transaction on Friday, August 12th. The stock was sold at an average price of $19.00, for a total value of $266,000.00. Following the transaction, the chief marketing officer now owns 589,597 shares of the company’s stock, valued at $11,202,343. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CMO Colleen Jansen sold 14,000 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $19.00, for a total transaction of $266,000.00. Following the transaction, the chief marketing officer now directly owns 589,597 shares of the company’s stock, valued at $11,202,343. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric Sidle sold 33,442 shares of the firm’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $18.55, for a total value of $620,349.10. Following the transaction, the insider now directly owns 584,561 shares in the company, valued at $10,843,606.55. The disclosure for this sale can be found here. Insiders have sold a total of 1,912,270 shares of company stock valued at $26,367,587 over the last 90 days. 23.64% of the stock is owned by insiders.

About ChargePoint

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for ChargePoint (NYSE:CHPT)

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