ChargePoint Holdings, Inc. (NYSE:CHPT) Stock Holdings Trimmed by Arkadios Wealth Advisors

Arkadios Wealth Advisors lowered its holdings in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 54.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CHPT. American International Group Inc. increased its position 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 valued at $42,000 after purchasing an additional 716 shares during the period. First Manhattan Co. grew its holdings in shares of ChargePoint by 65.4% in the 1st quarter. First Manhattan Co. now owns 3,085 shares of the company’s stock worth $61,000 after acquiring an additional 1,220 shares during the last quarter. Boothbay Fund Management LLC grew its holdings in shares of ChargePoint by 4.2% in the 4th quarter. Boothbay Fund Management LLC now owns 35,083 shares of the company’s stock worth $334,000 after acquiring an additional 1,406 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of ChargePoint by 7.4% during the first quarter. Hsbc Holdings PLC now owns 23,208 shares of the company’s stock valued at $463,000 after buying an additional 1,608 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of ChargePoint by 12.5% during the fourth quarter. Captrust Financial Advisors now owns 14,554 shares of the company’s stock valued at $139,000 after buying an additional 1,617 shares in the last quarter. Institutional investors own 37.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CHPT. R. F. Lafferty lowered their price target on ChargePoint from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, March 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 price objective (down previously from $3.50) on shares of ChargePoint in a research report on Wednesday, March 6th. Benchmark reissued a “buy” rating and set a $4.25 price objective on shares of ChargePoint in a research report on Wednesday, March 6th. The Goldman Sachs Group reissued a “sell” rating and set a $1.50 price objective (down previously from $2.00) on shares of ChargePoint in a research report on Tuesday. Finally, DA Davidson reaffirmed a “buy” rating and issued a $4.00 price target on shares of ChargePoint in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.14.

ChargePoint Trading Down 5.6 %

Shares of CHPT 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 company has a quick ratio of 1.65, a current ratio of 2.25 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $698.11 million, a price-to-earnings ratio of -1.35 and a beta of 1.62. The stock’s 50-day moving average price is $1.93 and its 200 day moving average price is $2.43.

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

Insider Activity at ChargePoint

In other news, Director Michael Linse sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $1.94, for a total value of $194,000.00. Following the sale, the director now directly owns 1,209,867 shares in the company, valued at approximately $2,347,141.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Michael Linse sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $1.94, for a total value of $194,000.00. Following the sale, the director now directly owns 1,209,867 shares in the company, valued at approximately $2,347,141.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mansi Khetani sold 19,035 shares of the company’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 value of $35,595.45. Following the completion of the sale, the chief financial officer now owns 421,500 shares in the company, valued at $788,205. The disclosure for this sale can be found here. Insiders have sold 154,846 shares of company stock worth $296,562 over the last three months. Company insiders own 12.90% of the company’s stock.

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.