PDS Planning Inc Acquires New Position in ChargePoint Holdings, Inc. (NYSE:CHPT)

PDS Planning Inc bought a new position in shares of ChargePoint Holdings, Inc. (NYSE:CHPTFree Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 16,255 shares of the company’s stock, valued at approximately $31,000.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of ChargePoint by 12.9% in the third quarter. Vanguard Group Inc. now owns 29,162,249 shares of the company’s stock worth $144,936,000 after purchasing an additional 3,325,694 shares during the last quarter. Ingalls & Snyder LLC purchased a new stake in ChargePoint in the fourth quarter valued at $33,000. Wellington Management Group LLP grew its position in ChargePoint by 418.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,522,247 shares of the company’s stock worth $12,536,000 after purchasing an additional 2,035,496 shares during the period. M&T Bank Corp lifted its holdings in shares of ChargePoint by 484.7% in the 4th quarter. M&T Bank Corp now owns 73,396 shares of the company’s stock valued at $172,000 after buying an additional 60,843 shares during the period. Finally, Oak Thistle LLC purchased a new position in ChargePoint during the fourth quarter valued at approximately $266,000. Hedge funds and other institutional investors own 37.77% of the company’s stock.

ChargePoint Stock Up 10.2 %

NYSE CHPT opened at $1.83 on Monday. The stock has a fifty day simple moving average of $1.65 and a 200-day simple moving average of $1.82. The company has a current ratio of 2.13, a quick ratio of 1.45 and a debt-to-equity ratio of 1.02. ChargePoint Holdings, Inc. has a twelve month low of $1.21 and a twelve month high of $9.23.

ChargePoint (NYSE:CHPTGet Free Report) last announced its earnings results on Wednesday, June 5th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.03. ChargePoint had a negative net margin of 93.05% and a negative return on equity of 127.18%. The company had revenue of $107.04 million during the quarter, compared to analyst estimates of $106.09 million. On average, sell-side analysts expect that ChargePoint Holdings, Inc. will post -0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CHPT shares. Benchmark decreased their target price on shares of ChargePoint from $4.25 to $3.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Needham & Company LLC restated a “buy” rating and set a $3.00 price objective on shares of ChargePoint in a research report on Thursday, June 6th. TD Cowen dropped their target price on shares of ChargePoint from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, June 6th. B. Riley upgraded ChargePoint to a “hold” rating in a report on Tuesday, June 25th. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $1.50 target price (down previously from $2.00) on shares of ChargePoint in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, ChargePoint currently has an average rating of “Hold” and an average price target of $4.88.

Check Out Our Latest Stock Analysis on CHPT

Insiders Place Their Bets

In related news, CEO Richard Wilmer sold 27,722 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $1.40, for a total value of $38,810.80. Following the sale, the chief executive officer now owns 2,331,740 shares in the company, valued at approximately $3,264,436. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other ChargePoint news, CAO Henrik Gerdes sold 43,596 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $1.50, for a total value of $65,394.00. Following the completion of the transaction, the chief accounting officer now owns 438,004 shares in the company, valued at $657,006. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard Wilmer sold 27,722 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $1.40, for a total value of $38,810.80. Following the sale, the chief executive officer now directly owns 2,331,740 shares in the company, valued at approximately $3,264,436. The disclosure for this sale can be found here. Insiders have sold 95,099 shares of company stock worth $137,498 over the last ninety days. Corporate insiders own 3.50% of the company’s stock.

About ChargePoint

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for ChargePoint (NYSE:CHPT)

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