SG Americas Securities LLC Reduces Stake in ChargePoint Holdings, Inc. (NYSE:CHPT)

SG Americas Securities LLC reduced its stake in ChargePoint Holdings, Inc. (NYSE:CHPT) by 72.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,060 shares of the company’s stock after selling 190,835 shares during the quarter. SG Americas Securities LLC’s holdings in ChargePoint were worth $169,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Comerica Bank purchased a new position in shares of ChargePoint during the 3rd quarter worth $26,000. Hollencrest Capital Management grew its holdings in shares of ChargePoint by 162.2% during the 1st quarter. Hollencrest Capital Management now owns 3,395 shares of the company’s stock worth $36,000 after purchasing an additional 2,100 shares during the period. Trium Capital LLP purchased a new position in shares of ChargePoint during the 1st quarter worth $37,000. Dark Forest Capital Management LP purchased a new position in shares of ChargePoint during the 1st quarter worth $39,000. Finally, Jeppson Wealth Management LLC purchased a new position in shares of ChargePoint during the 4th quarter worth $40,000. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on CHPT shares. Needham & Company LLC reissued a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research note on Thursday, April 4th. The Goldman Sachs Group reissued a “sell” rating and set a $1.50 target price (down previously from $2.00) on shares of ChargePoint in a research note on Tuesday, April 9th. Oppenheimer reissued a “market perform” rating on shares of ChargePoint in a research note on Wednesday, March 6th. Benchmark reissued a “buy” rating and set a $4.25 target price on shares of ChargePoint in a research note on Wednesday, March 6th. Finally, R. F. Lafferty decreased their target price on ChargePoint from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.14.

ChargePoint Price Performance

Shares of NYSE CHPT opened at $1.61 on Monday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.65 and a current ratio of 2.25. ChargePoint Holdings, Inc. has a fifty-two week low of $1.56 and a fifty-two week high of $10.10. The firm has a market capitalization of $673.03 million, a PE ratio of -1.30 and a beta of 1.62. The stock’s 50-day simple moving average is $1.91 and its 200-day simple moving average is $2.37.

ChargePoint (NYSE:CHPT) last issued its earnings results on Tuesday, March 5th. The company reported ($0.19) earnings per share for the quarter, topping 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 business had revenue of $115.83 million for the quarter, compared to analyst estimates of $126.48 million. As a group, equities research analysts forecast that ChargePoint Holdings, Inc. will post -0.63 EPS for the current fiscal year.

Insider Transactions at ChargePoint

In other news, Director Michael Linse sold 100,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $1.94, for a total transaction of $194,000.00. Following the sale, the director now owns 1,209,867 shares of the company’s stock, valued at approximately $2,347,141.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Mansi Khetani sold 19,035 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total transaction of $35,595.45. Following the transaction, the chief financial officer now owns 421,500 shares in the company, valued at approximately $788,205. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Linse sold 100,000 shares of the firm’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 transaction, the director now owns 1,209,867 shares in the company, valued at approximately $2,347,141.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,846 shares of company stock valued at $296,562. Corporate 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.