Arkadios Wealth Advisors Sells 18,515 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

Arkadios Wealth Advisors lessened its position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 54.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,493 shares of the company’s stock after selling 18,515 shares during the period. Arkadios Wealth Advisors’ holdings in ChargePoint were worth $36,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. American International Group Inc. increased its holdings in 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 purchasing an additional 716 shares in the last quarter. First Manhattan Co. increased its holdings in ChargePoint by 65.4% during the 1st quarter. First Manhattan Co. now owns 3,085 shares of the company’s stock worth $61,000 after purchasing an additional 1,220 shares in the last quarter. Boothbay Fund Management LLC increased its holdings in ChargePoint by 4.2% during the 4th quarter. Boothbay Fund Management LLC now owns 35,083 shares of the company’s stock worth $334,000 after purchasing an additional 1,406 shares in the last quarter. Hsbc Holdings PLC increased its holdings in ChargePoint by 7.4% during the 1st quarter. Hsbc Holdings PLC now owns 23,208 shares of the company’s stock worth $463,000 after purchasing an additional 1,608 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in ChargePoint by 12.5% during the 4th quarter. Captrust Financial Advisors now owns 14,554 shares of the company’s stock worth $139,000 after purchasing an additional 1,617 shares in the last quarter. Institutional investors own 37.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CHPT has been the subject of several analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $3.00 price objective (down previously from $3.50) on shares of ChargePoint in a report on Wednesday, March 6th. R. F. Lafferty decreased their price objective on ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, March 6th. DA Davidson restated a “buy” rating and issued a $4.00 price objective on shares of ChargePoint in a report on Wednesday, March 6th. Oppenheimer restated a “market perform” rating on shares of ChargePoint in a report on Wednesday, March 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $3.00 price objective on shares of ChargePoint in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.14.

ChargePoint Trading Down 5.6 %

Shares of CHPT stock opened at $1.67 on Thursday. ChargePoint Holdings, Inc. has a 12-month low of $1.56 and a 12-month high of $10.10. The firm has a 50 day moving average price of $1.93 and a two-hundred day moving average price of $2.43. The company has a market capitalization of $698.11 million, a PE ratio of -1.35 and a beta of 1.62. The company has a quick ratio of 1.65, a current ratio of 2.25 and a debt-to-equity ratio of 0.87.

ChargePoint (NYSE:CHPT) last announced its earnings results on Tuesday, March 5th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.01. ChargePoint had a negative net margin of 90.32% and a negative return on equity of 125.19%. The company had revenue of $115.83 million for the quarter, compared to analysts’ expectations of $126.48 million. As a group, analysts predict that ChargePoint Holdings, Inc. will post -0.63 earnings per share for the current year.

Insider Transactions at ChargePoint

In other news, CEO Richard Wilmer sold 25,376 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total transaction of $47,453.12. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Richard Wilmer sold 25,376 shares of ChargePoint stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 2,359,462 shares of the company’s stock, valued at $4,412,193.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Linse sold 100,000 shares of ChargePoint stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $1.94, for a total transaction of $194,000.00. Following the completion of the transaction, the director now directly owns 1,209,867 shares in the company, valued at $2,347,141.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 154,846 shares of company stock valued at $296,562. 12.90% of the stock is currently owned by company insiders.

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.