Raymond James & Associates Reduces Stock Holdings in ChargePoint Holdings, Inc. (NYSE:CHPT)

Raymond James & Associates cut its position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 23.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,051 shares of the company’s stock after selling 63,694 shares during the period. Raymond James & Associates’ holdings in ChargePoint were worth $482,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CHPT. Jeppson Wealth Management LLC purchased a new position in ChargePoint during the fourth quarter worth about $40,000. QRG Capital Management Inc. purchased a new position in shares of ChargePoint during the 3rd quarter worth approximately $58,000. Hollencrest Capital Management purchased a new position in shares of ChargePoint during the 3rd quarter worth approximately $60,000. M&T Bank Corp acquired a new stake in ChargePoint in the 3rd quarter valued at approximately $62,000. Finally, Pinnacle Associates Ltd. purchased a new stake in ChargePoint in the third quarter valued at approximately $65,000. Hedge funds and other institutional investors own 37.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CHPT. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 price objective (down from $3.50) on shares of ChargePoint in a research note on Wednesday, March 6th. DA Davidson reaffirmed a “buy” rating and set a $4.00 price objective on shares of ChargePoint in a research 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 research note on Wednesday, March 6th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $1.50 price objective (down from $2.00) on shares of ChargePoint in a research report on Tuesday, April 9th. Finally, Benchmark reaffirmed a “buy” rating and set a $4.25 price target on shares of ChargePoint in a report on Wednesday, March 6th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.46.

Insider Buying and Selling

In other ChargePoint news, CFO Mansi Khetani sold 19,035 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total transaction of $35,595.45. Following the completion of the transaction, the chief financial officer now owns 421,500 shares in the company, valued at approximately $788,205. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other ChargePoint news, CFO Mansi Khetani sold 19,035 shares of ChargePoint stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $35,595.45. Following the sale, the chief financial officer now owns 421,500 shares of the company’s stock, valued at approximately $788,205. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Wilmer sold 25,376 shares of the business’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 value of $47,453.12. Following the transaction, the chief executive officer now owns 2,359,462 shares in the company, valued at approximately $4,412,193.94. The disclosure for this sale can be found here. Insiders sold a total of 154,846 shares of company stock valued at $296,562 over the last three months. 12.90% of the stock is currently owned by company insiders.

ChargePoint Trading Up 0.8 %

NYSE CHPT opened at $1.27 on Friday. ChargePoint Holdings, Inc. has a one year low of $1.21 and a one year high of $10.10. The firm has a market cap of $530.90 million, a PE ratio of -1.02 and a beta of 1.62. The firm’s fifty day moving average is $1.77 and its two-hundred day moving average is $2.18. 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 (NYSE:CHPT) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.19) 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 during the quarter, compared to the consensus estimate of $126.48 million. Analysts expect that ChargePoint Holdings, Inc. will post -0.63 earnings per share for the current year.

About ChargePoint

ChargePoint Holdings, Inc, together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in the North America and Europe. The company serves commercial, such as retail, workplace, hospitality, parking, recreation, municipal, education, and highway fast charge; fleet, which include delivery, take home, logistics, motor pool, transit, and shared mobility; and residential including single family homes and multi-family apartments and condominiums customers.