Victory Capital Management Inc. Sells 119,230 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

Victory Capital Management Inc. cut its holdings in ChargePoint Holdings, Inc. (NYSE:CHPT) by 81.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,685 shares of the company’s stock after selling 119,230 shares during the quarter. Victory Capital Management Inc.’s holdings in ChargePoint were worth $243,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Almanack Investment Partners LLC. purchased a new stake in shares of ChargePoint in the 3rd quarter worth about $43,000. First Manhattan Co. grew its position in ChargePoint by 65.4% during the 1st quarter. First Manhattan Co. now owns 3,085 shares of the company’s stock valued at $61,000 after purchasing an additional 1,220 shares during the last quarter. American International Group Inc. grew its position in ChargePoint by 30.0% during the 2nd quarter. American International Group Inc. now owns 3,101 shares of the company’s stock valued at $42,000 after purchasing an additional 716 shares during the last quarter. Hollencrest Capital Management grew its position in ChargePoint by 162.2% during the 1st quarter. Hollencrest Capital Management now owns 3,395 shares of the company’s stock valued at $36,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Trium Capital LLP purchased a new stake in ChargePoint during the 1st quarter valued at about $37,000. 45.01% of the stock is owned by hedge funds and other institutional investors.

ChargePoint Price Performance

Shares of NYSE:CHPT opened at $3.08 on Monday. The firm’s 50 day moving average price is $4.68 and its 200-day moving average price is $7.09. ChargePoint Holdings, Inc. has a twelve month low of $2.38 and a twelve month high of $14.15. The company has a quick ratio of 1.61, a current ratio of 2.03 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $1.11 billion, a PE ratio of -2.91 and a beta of 1.81.

ChargePoint (NYSE:CHPT) last released its earnings results on Wednesday, September 6th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.22). ChargePoint had a negative return on equity of 106.73% and a negative net margin of 65.71%. The firm had revenue of $150.49 million for the quarter, compared to the consensus estimate of $153.25 million. During the same quarter in the previous year, the business posted ($0.27) EPS. ChargePoint’s revenue was up 39.0% on a year-over-year basis. Equities research analysts expect that ChargePoint Holdings, Inc. will post -0.9 EPS for the current year.

Insiders Place Their Bets

In other ChargePoint news, CAO Henrik Gerdes sold 5,328 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $5.03, for a total transaction of $26,799.84. Following the sale, the chief accounting officer now owns 78,210 shares in the company, valued at approximately $393,396.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Pasquale Romano sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $7.96, for a total value of $79,600.00. Following the sale, the chief executive officer now owns 4,148,054 shares in the company, valued at $33,018,509.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Henrik Gerdes sold 5,328 shares of the business’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $5.03, for a total transaction of $26,799.84. Following the completion of the sale, the chief accounting officer now owns 78,210 shares in the company, valued at approximately $393,396.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,366,970 shares of company stock worth $25,148,003. Company insiders own 12.90% of the company’s stock.

Analyst Ratings Changes

CHPT has been the topic of several recent analyst reports. R. F. Lafferty cut their price objective on shares of ChargePoint from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, September 7th. B. Riley cut their price objective on shares of ChargePoint from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, July 20th. Royal Bank of Canada initiated coverage on shares of ChargePoint in a research report on Friday, September 8th. They set an “outperform” rating and a $9.00 price objective on the stock. Fox Advisors downgraded shares of ChargePoint from an “overweight” rating to an “equal weight” rating in a research report on Thursday, September 7th. Finally, UBS Group initiated coverage on shares of ChargePoint in a research note on Wednesday, September 27th. They set a “buy” rating and a $9.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, ChargePoint currently has an average rating of “Moderate Buy” and a consensus target price of $12.40.

ChargePoint 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.