ChargePoint Holdings, Inc. (NYSE:CHPT) Shares Purchased by LPL Financial LLC

LPL Financial LLC boosted its position in ChargePoint Holdings, Inc. (NYSE:CHPT – Get Rating) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 241,821 shares of the company’s stock after acquiring an additional 7,146 shares during the quarter. LPL Financial LLC owned 0.07% of ChargePoint worth $2,305,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atticus Wealth Management LLC grew its position in shares of ChargePoint by 305.4% during the fourth quarter. Atticus Wealth Management LLC now owns 2,635 shares of the company’s stock worth $25,000 after acquiring an additional 1,985 shares during the last quarter. Guardian Wealth Advisors LLC acquired a new position in shares of ChargePoint during the 3rd quarter worth $26,000. Armstrong Advisory Group Inc. acquired a new position in shares of ChargePoint during the 4th quarter worth $26,000. American International Group Inc. raised its stake in shares of ChargePoint by 30.0% during the 2nd quarter. American International Group Inc. now owns 3,101 shares of the company’s stock worth $42,000 after buying an additional 716 shares during the last quarter. Finally, Almanack Investment Partners LLC. acquired a new position in shares of ChargePoint during the 3rd quarter worth $43,000. Institutional investors and hedge funds own 44.87% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Citigroup cut their price target on ChargePoint from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, March 6th. Stifel Nicolaus decreased their target price on ChargePoint from $25.00 to $17.00 in a report on Tuesday, April 25th. Needham & Company LLC reissued a “buy” rating and set a $14.00 target price on shares of ChargePoint in a research report on Friday, March 3rd. Janney Montgomery Scott initiated coverage on shares of ChargePoint in a research report on Friday, February 24th. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. dropped their target price on shares of ChargePoint from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, March 3rd. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.68.

Insider Activity

In other news, insider Richard Wilmer sold 4,312 shares of the firm’s stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $9.40, for a total transaction of $40,532.80. Following the transaction, the insider now directly owns 658,018 shares of the company’s stock, valued at $6,185,369.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Richard Wilmer sold 4,312 shares of the firm’s stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $9.40, for a total transaction of $40,532.80. Following the transaction, the insider now directly owns 658,018 shares of the company’s stock, valued at $6,185,369.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Pasquale Romano sold 20,000 shares of ChargePoint 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 directly owns 4,148,054 shares in the company, valued at $35,299,939.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 409,610 shares of company stock valued at $3,516,846. Company insiders own 23.64% of the company’s stock.

ChargePoint Stock Performance

CHPT stock opened at $7.93 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.23 and a current ratio of 2.48. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of -7.70 and a beta of 1.69. ChargePoint Holdings, Inc. has a 1 year low of $7.82 and a 1 year high of $19.92. The stock’s fifty day moving average is $9.09 and its two-hundred day moving average is $10.47.

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

About ChargePoint

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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.