ChargePoint Holdings, Inc. (NYSE:CHPT) Holdings Cut by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC reduced its stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 28.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,355 shares of the company’s stock after selling 7,048 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in ChargePoint were worth $182,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. AE Wealth Management LLC grew its stake in ChargePoint by 6.2% in the first quarter. AE Wealth Management LLC now owns 31,603 shares of the company’s stock valued at $331,000 after purchasing an additional 1,852 shares in the last quarter. HM Payson & Co. increased its holdings in ChargePoint by 50.0% in the first quarter. HM Payson & Co. now owns 4,500 shares of the company’s stock worth $47,000 after buying an additional 1,500 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in ChargePoint by 35.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 95,000 shares of the company’s stock valued at $995,000 after acquiring an additional 25,000 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in ChargePoint in the first quarter valued at approximately $217,000. Finally, Arizona State Retirement System grew its position in ChargePoint by 3.6% in the fourth quarter. Arizona State Retirement System now owns 61,804 shares of the company’s stock worth $589,000 after acquiring an additional 2,165 shares in the last quarter. 45.01% of the stock is owned by institutional investors and hedge funds.

ChargePoint Price Performance

NYSE:CHPT opened at $7.44 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.97 and a current ratio of 2.37. The company has a 50-day moving average of $8.02 and a 200-day moving average of $8.93. ChargePoint Holdings, Inc. has a 52 week low of $6.65 and a 52 week high of $19.92. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -7.52 and a beta of 1.59.

ChargePoint (NYSE:CHPT) last released its quarterly earnings data on Thursday, June 1st. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.04. The company had revenue of $130.00 million for the quarter, compared to the consensus estimate of $128.27 million. ChargePoint had a negative return on equity of 88.36% and a negative net margin of 64.78%. The company’s quarterly revenue was up 59.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.26) earnings per share. As a group, equities research analysts anticipate that ChargePoint Holdings, Inc. will post -0.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CHPT shares. JPMorgan Chase & Co. cut their price target on shares of ChargePoint from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $13.00 price target on shares of ChargePoint in a research note on Tuesday, August 8th. TD Cowen reduced their target price on ChargePoint from $20.00 to $14.00 and set an “outperform” rating for the company in a report on Tuesday, August 15th. DA Davidson cut their target price on shares of ChargePoint from $18.00 to $15.00 in a research report on Monday, June 5th. Finally, Citigroup dropped their price objective on ChargePoint from $13.00 to $10.80 in a research note on Tuesday, June 20th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, ChargePoint currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.20.

Insider Activity at ChargePoint

In other ChargePoint news, CAO Henrik Gerdes sold 5,518 shares of ChargePoint stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $8.03, for a total transaction of $44,309.54. Following the completion of the transaction, the chief accounting officer now directly owns 83,537 shares of the company’s stock, valued at $670,802.11. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Pasquale Romano sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $7.15, for a total value of $71,500.00. Following the transaction, the chief executive officer now directly owns 4,148,054 shares of the company’s stock, valued at approximately $29,658,586.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Henrik Gerdes sold 5,518 shares of the firm’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $8.03, for a total value of $44,309.54. Following the sale, the chief accounting officer now directly owns 83,537 shares of the company’s stock, valued at $670,802.11. The disclosure for this sale can be found here. Insiders have sold a total of 816,111 shares of company stock valued at $7,091,477 in the last 90 days. 12.90% of the stock is owned by corporate insiders.

ChargePoint Company Profile

ChargePoint Holdings, Inc, together with its subsidiaries, 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. ChargePoint Holdings, Inc was founded in 2007 and is headquartered in Campbell, California.