Tower Research Capital LLC TRC Lowers Position in ChargePoint Holdings, Inc. (NYSE:CHPT)

Tower Research Capital LLC TRC trimmed its holdings in shares of ChargePoint Holdings, Inc. (NYSE:CHPT – Get Rating) by 39.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 21,432 shares of the company’s stock after selling 14,044 shares during the period. Tower Research Capital LLC TRC’s holdings in ChargePoint were worth $316,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. UBS Group AG boosted its stake in shares of ChargePoint by 139.8% during the 3rd quarter. UBS Group AG now owns 648,227 shares of the company’s stock worth $9,568,000 after acquiring an additional 377,904 shares during the last quarter. Weil Company Inc. bought a new stake in shares of ChargePoint in the 3rd quarter worth about $169,000. Amalgamated Bank increased its holdings in shares of ChargePoint by 28.4% in the 3rd quarter. Amalgamated Bank now owns 56,872 shares of the company’s stock worth $839,000 after buying an additional 12,562 shares during the last quarter. Peregrine Asset Advisers Inc. bought a new position in ChargePoint during the 3rd quarter valued at about $967,000. Finally, Guardian Wealth Advisors LLC bought a new position in ChargePoint during the 3rd quarter valued at about $26,000. 44.87% of the stock is currently owned by hedge funds and other institutional investors.

ChargePoint Stock Performance

CHPT opened at $11.36 on Wednesday. The company has a quick ratio of 2.43, a current ratio of 2.69 and a debt-to-equity ratio of 0.87. The company has a market cap of $3.88 billion, a price-to-earnings ratio of -11.03 and a beta of 1.71. ChargePoint Holdings, Inc. has a 52-week low of $8.07 and a 52-week high of $20.99. The firm’s fifty day simple moving average is $10.98 and its two-hundred day simple moving average is $12.86.

ChargePoint (NYSE:CHPT – Get Rating) last posted its quarterly earnings data on Thursday, December 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.01). The company had revenue of $125.34 million for the quarter, compared to analysts’ expectations of $131.35 million. ChargePoint had a negative net margin of 82.57% and a negative return on equity of 74.82%. Equities analysts anticipate that ChargePoint Holdings, Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Transactions at ChargePoint

In other news, Director Michael Linse sold 508,101 shares of the firm’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $10.08, for a total value of $5,121,658.08. The transaction was disclosed in a filing with the SEC, which is available through this link. In other ChargePoint news, insider William J. Loewenthal sold 3,051 shares of ChargePoint stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $9.53, for a total transaction of $29,076.03. Following the transaction, the insider now directly owns 432,892 shares of the company’s stock, valued at $4,125,460.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Linse sold 508,101 shares of ChargePoint stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $10.08, for a total transaction of $5,121,658.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 733,506 shares of company stock valued at $7,318,633. Corporate insiders own 23.64% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Citigroup dropped their target price on shares of ChargePoint from $15.50 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 29th. Janney Montgomery Scott began coverage on shares of ChargePoint in a research report on Friday, February 24th. They set a “buy” rating for the company. Piper Sandler cut their price target on shares of ChargePoint from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, December 22nd. JPMorgan Chase & Co. cut their price target on shares of ChargePoint from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, January 26th. Finally, Cowen cut their price target on shares of ChargePoint to $20.00 in a research note on Monday, November 28th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.53.

ChargePoint 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.