Cibc World Market Inc. Sells 1,663 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

Cibc World Market Inc. decreased its stake in ChargePoint Holdings, Inc. (NYSE:CHPTGet Rating) by 14.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,237 shares of the company’s stock after selling 1,663 shares during the quarter. Cibc World Market Inc.’s holdings in ChargePoint were worth $140,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. CWM LLC increased its position in ChargePoint by 27.8% during the second quarter. CWM LLC now owns 10,259 shares of the company’s stock valued at $140,000 after acquiring an additional 2,233 shares during the last quarter. Lincoln National Corp boosted its stake in shares of ChargePoint by 40.3% during the 2nd quarter. Lincoln National Corp now owns 25,856 shares of the company’s stock worth $354,000 after purchasing an additional 7,429 shares during the period. F3Logic LLC grew its holdings in ChargePoint by 17.2% during the 1st quarter. F3Logic LLC now owns 29,000 shares of the company’s stock valued at $580,000 after purchasing an additional 4,250 shares during the last quarter. HBC Financial Services PLLC purchased a new stake in ChargePoint in the 1st quarter worth about $53,000. Finally, Green Alpha Advisors LLC lifted its stake in ChargePoint by 181.0% in the second quarter. Green Alpha Advisors LLC now owns 62,130 shares of the company’s stock worth $851,000 after purchasing an additional 40,022 shares during the last quarter. Institutional investors own 45.88% of the company’s stock.

ChargePoint Trading Up 4.2 %

NYSE CHPT opened at $11.97 on Friday. ChargePoint Holdings, Inc. has a one year low of $8.50 and a one year high of $26.75. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.62 and a current ratio of 2.85. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of -12.09 and a beta of 1.65. The company’s 50-day simple moving average is $13.93 and its two-hundred day simple moving average is $13.99.

ChargePoint (NYSE:CHPTGet Rating) last issued its quarterly earnings data on Tuesday, August 30th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The business had revenue of $108.29 million for the quarter, compared to analysts’ expectations of $103.03 million. ChargePoint had a negative net margin of 92.93% and a negative return on equity of 61.79%. The business’s quarterly revenue was up 93.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.24) earnings per share. Equities analysts forecast that ChargePoint Holdings, Inc. will post -0.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CHPT. Needham & Company LLC cut their target price on ChargePoint from $24.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, October 20th. Bank of America upped their price objective on ChargePoint from $14.00 to $15.50 in a research report on Monday, August 22nd. B. Riley decreased their target price on ChargePoint from $20.00 to $18.00 in a research report on Monday, November 7th. JPMorgan Chase & Co. upped their price target on shares of ChargePoint from $18.00 to $20.00 in a report on Tuesday, August 23rd. Finally, Credit Suisse Group assumed coverage on shares of ChargePoint in a research note on Wednesday, September 7th. They issued an “outperform” rating and a $22.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.40.

Insider Buying and Selling

In other ChargePoint news, CAO Henrik Gerdes sold 2,384 shares of ChargePoint stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $16.00, for a total value of $38,144.00. Following the transaction, the chief accounting officer now owns 93,314 shares in the company, valued at $1,493,024. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Henrik Gerdes sold 2,384 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $16.00, for a total value of $38,144.00. Following the sale, the chief accounting officer now directly owns 93,314 shares in the company, valued at approximately $1,493,024. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael D. Hughes sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $15.11, for a total transaction of $377,750.00. Following the transaction, the insider now owns 955,094 shares of the company’s stock, valued at approximately $14,431,470.34. The disclosure for this sale can be found here. Insiders sold 130,130 shares of company stock worth $2,082,753 in the last three months. 23.64% of the stock is owned by insiders.

ChargePoint Company Profile

(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.

See Also

Want to see what other hedge funds are holding CHPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ChargePoint Holdings, Inc. (NYSE:CHPTGet Rating).

Institutional Ownership by Quarter for ChargePoint (NYSE:CHPT)

Receive News & Ratings for ChargePoint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ChargePoint and related companies with MarketBeat.com's FREE daily email newsletter.