Private Advisor Group LLC Sells 8,691 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

Private Advisor Group LLC cut its holdings in ChargePoint Holdings, Inc. (NYSE:CHPT) by 15.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,599 shares of the company’s stock after selling 8,691 shares during the quarter. Private Advisor Group LLC’s holdings in ChargePoint were worth $111,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CHPT. Vanguard Group Inc. boosted its position in shares of ChargePoint by 12.9% in the 3rd quarter. Vanguard Group Inc. now owns 29,162,249 shares of the company’s stock worth $144,936,000 after purchasing an additional 3,325,694 shares during the last quarter. Wellington Management Group LLP lifted its stake in ChargePoint by 418.2% in the third quarter. Wellington Management Group LLP now owns 2,522,247 shares of the company’s stock valued at $12,536,000 after buying an additional 2,035,496 shares during the period. Cadian Capital Management LP bought a new position in ChargePoint during the third quarter worth about $4,970,000. Invesco Ltd. grew its position in shares of ChargePoint by 19.2% during the 3rd quarter. Invesco Ltd. now owns 2,193,049 shares of the company’s stock worth $10,899,000 after buying an additional 353,988 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of ChargePoint by 35.2% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 962,300 shares of the company’s stock valued at $4,783,000 after acquiring an additional 250,500 shares during the last quarter. Institutional investors and hedge funds own 37.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CHPT has been the subject of a number of analyst reports. The Goldman Sachs Group restated a “sell” rating and set a $1.50 price objective (down previously from $2.00) on shares of ChargePoint in a report on Tuesday, April 9th. R. F. Lafferty lowered their price objective on shares of ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, March 6th. DA Davidson reiterated a “buy” rating and set a $4.00 target price on shares of ChargePoint in a report on Wednesday, March 6th. Benchmark reissued a “buy” rating and issued a $4.25 target price on shares of ChargePoint in a research note on Wednesday, March 6th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of ChargePoint in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.46.

ChargePoint Stock Up 3.5 %

ChargePoint stock opened at $1.78 on Monday. The company has a fifty day simple moving average of $1.67 and a 200 day simple moving average of $1.98. The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.87. ChargePoint Holdings, Inc. has a 1-year low of $1.21 and a 1-year high of $10.10. The company has a market cap of $744.09 million, a P/E ratio of -1.44 and a beta of 1.69.

ChargePoint (NYSE:CHPT) last announced 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. ChargePoint had a negative return on equity of 125.19% and a negative net margin of 90.32%. The company had revenue of $115.83 million during the quarter, compared to analysts’ expectations of $126.48 million. Research analysts anticipate that ChargePoint Holdings, Inc. will post -0.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Richard Wilmer sold 25,376 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total value of $47,453.12. Following the completion of the transaction, the chief executive officer now directly owns 2,359,462 shares of the company’s stock, valued at $4,412,193.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other ChargePoint news, CFO Mansi Khetani sold 19,035 shares of the company’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 sale, the chief financial officer now owns 421,500 shares in the company, valued at $788,205. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Wilmer sold 25,376 shares of ChargePoint 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 $47,453.12. Following the transaction, the chief executive officer now owns 2,359,462 shares of the company’s stock, valued at $4,412,193.94. The disclosure for this sale can be found here. Insiders have sold 154,846 shares of company stock valued at $296,562 in the last 90 days. 12.90% of the stock is currently owned by insiders.

ChargePoint Company 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.