ChargePoint Holdings, Inc. (NYSE:CHPT) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. increased its holdings in ChargePoint Holdings, Inc. (NYSE:CHPT) by 161.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,662 shares of the company’s stock after buying an additional 18,951 shares during the quarter. QRG Capital Management Inc.’s holdings in ChargePoint were worth $72,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. RWA Wealth Partners LLC acquired a new position in shares of ChargePoint during the fourth quarter valued at $31,000. Ingalls & Snyder LLC bought a new stake in shares of ChargePoint during the 4th quarter worth about $33,000. Sigma Planning Corp acquired a new stake in shares of ChargePoint in the 4th quarter worth approximately $33,000. TCG Advisory Services LLC bought a new position in shares of ChargePoint in the fourth quarter valued at approximately $33,000. Finally, Ballentine Partners LLC acquired a new position in shares of ChargePoint during the fourth quarter valued at approximately $34,000. 37.77% of the stock is currently owned by institutional investors and hedge funds.

ChargePoint Stock Performance

NYSE:CHPT opened at $1.75 on Wednesday. The stock’s 50-day moving average is $1.66 and its two-hundred day moving average is $2.00. The company has a quick ratio of 1.65, a current ratio of 2.25 and a debt-to-equity ratio of 0.87. ChargePoint Holdings, Inc. has a fifty-two week low of $1.21 and a fifty-two week high of $10.10.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CHPT shares. R. F. Lafferty cut their target price on ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Oppenheimer reaffirmed a “market perform” rating on shares of ChargePoint in a report on Wednesday, March 6th. The Goldman Sachs Group reissued a “sell” rating and issued a $1.50 price target (down from $2.00) on shares of ChargePoint in a report on Tuesday, April 9th. DA Davidson reaffirmed a “buy” rating and issued a $4.00 price objective on shares of ChargePoint in a research note on Wednesday, March 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 target price (down from $3.50) on shares of ChargePoint in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, ChargePoint currently has a consensus rating of “Hold” and an average target price of $5.46.

Insider Buying and Selling

In other ChargePoint news, CFO Mansi Khetani sold 19,035 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $35,595.45. Following the transaction, the chief financial officer now directly owns 421,500 shares of the company’s stock, valued at approximately $788,205. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Mansi Khetani sold 19,035 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $35,595.45. Following the completion of 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 document filed with the SEC, which is available at this link. Also, Director Michael Linse sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $1.94, for a total transaction of $194,000.00. Following the transaction, the director now directly owns 1,209,867 shares in the company, valued at approximately $2,347,141.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,846 shares of company stock worth $296,562. Corporate insiders own 12.90% of the company’s stock.

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.