Treasurer of the State of North Carolina Raises Stock Position in ChargePoint Holdings, Inc. (NYSE:CHPT)

Treasurer of the State of North Carolina boosted its holdings in shares of ChargePoint Holdings, Inc. (NYSE:CHPT – Get Rating) by 2.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 109,863 shares of the company’s stock after acquiring an additional 2,660 shares during the quarter. Treasurer of the State of North Carolina’s holdings in ChargePoint were worth $1,047,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Atticus Wealth Management LLC lifted its position in ChargePoint by 305.4% during the fourth quarter. Atticus Wealth Management LLC now owns 2,635 shares of the company’s stock valued at $25,000 after purchasing an additional 1,985 shares during the period. Guardian Wealth Advisors LLC purchased a new position in ChargePoint in the third quarter valued at $26,000. Armstrong Advisory Group Inc. purchased a new stake in shares of ChargePoint during the fourth quarter worth about $26,000. American International Group Inc. increased its stake in shares of ChargePoint by 30.0% during the second quarter. American International Group Inc. now owns 3,101 shares of the company’s stock worth $42,000 after purchasing an additional 716 shares in the last quarter. Finally, Almanack Investment Partners LLC. purchased a new stake in shares of ChargePoint during the third quarter worth about $43,000. 44.87% of the stock is currently owned by institutional investors and hedge funds.

ChargePoint Stock Performance

CHPT stock opened at $7.93 on Friday. ChargePoint Holdings, Inc. has a fifty-two week low of $7.82 and a fifty-two week high of $19.92. The company has a quick ratio of 2.23, a current ratio of 2.48 and a debt-to-equity ratio of 0.83. The company has a 50-day simple moving average of $9.09 and a 200 day simple moving average of $10.49.

ChargePoint (NYSE:CHPT – Get Rating) last posted its quarterly earnings data on Thursday, March 2nd. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.03. The company had revenue of $152.83 million during the quarter, compared to analyst estimates of $164.31 million. ChargePoint had a negative net margin of 73.59% and a negative return on equity of 82.84%. As a group, research analysts predict that ChargePoint Holdings, Inc. will post -0.7 earnings per share for the current year.

Insider Activity at ChargePoint

In other news, CEO Pasquale Romano sold 20,000 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $8.51, for a total value of $170,200.00. Following the sale, the chief executive officer now owns 4,148,054 shares in the company, valued at $35,299,939.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other ChargePoint news, CFO Rex S. Jackson sold 14,476 shares of the business’s stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $9.40, for a total transaction of $136,074.40. Following the completion of the sale, the chief financial officer now directly owns 1,086,469 shares of the company’s stock, valued at approximately $10,212,808.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Pasquale Romano sold 20,000 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $8.51, for a total value of $170,200.00. Following the transaction, the chief executive officer now owns 4,148,054 shares of the company’s stock, valued at $35,299,939.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 409,610 shares of company stock valued at $3,516,846. 23.64% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Citigroup dropped their price objective on shares of ChargePoint from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 target price on shares of ChargePoint in a research note on Friday, March 3rd. Guggenheim began coverage on shares of ChargePoint in a research note on Tuesday, May 2nd. They set a “neutral” rating on the stock. Janney Montgomery Scott began coverage on shares of ChargePoint in a research report on Friday, February 24th. They issued a “buy” rating on the stock. Finally, Stifel Nicolaus dropped their target price on shares of ChargePoint from $25.00 to $17.00 in a research report on Tuesday, April 25th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, ChargePoint presently has an average rating of “Moderate Buy” and a consensus price target of $17.68.

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.