Advisors Asset Management Inc. Sells 22,991 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

Advisors Asset Management Inc. lowered its position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 26.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,334 shares of the company’s stock after selling 22,991 shares during the period. Advisors Asset Management Inc.’s holdings in ChargePoint were worth $88,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its stake in ChargePoint by 50.7% during the 2nd quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock valued at $26,000 after acquiring an additional 5,770 shares during the period. Financial Advocates Investment Management bought a new stake in shares of ChargePoint in the third quarter worth approximately $29,000. Delap Wealth Advisory LLC purchased a new stake in ChargePoint in the second quarter worth approximately $31,000. Perennial Investment Advisors LLC grew its position in ChargePoint by 74.4% in the 2nd quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company’s stock worth $37,000 after purchasing an additional 10,400 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its stake in ChargePoint by 152.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,462 shares of the company’s stock valued at $38,000 after buying an additional 15,358 shares during the last quarter. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CHPT has been the topic of a number of research reports. Wolfe Research started coverage on ChargePoint in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Capital One Financial raised ChargePoint to a “strong-buy” rating in a research report on Tuesday, September 17th. Benchmark reaffirmed a “buy” rating and set a $3.00 price target on shares of ChargePoint in a research report on Wednesday, November 20th. UBS Group dropped their price objective on shares of ChargePoint from $1.80 to $1.50 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Finally, Stifel Nicolaus decreased their price target on shares of ChargePoint from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.47.

ChargePoint Stock Up 4.3 %

CHPT opened at $1.22 on Friday. The stock has a market cap of $526.53 million, a price-to-earnings ratio of -1.23 and a beta of 1.70. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.32 and a current ratio of 2.03. The firm’s fifty day moving average is $1.27 and its 200 day moving average is $1.57. ChargePoint Holdings, Inc. has a fifty-two week low of $1.05 and a fifty-two week high of $3.13.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.15) EPS for the quarter, meeting analysts’ consensus estimates of ($0.15). The business had revenue of $108.54 million for the quarter, compared to analysts’ expectations of $114.15 million. ChargePoint had a negative return on equity of 112.67% and a negative net margin of 89.12%. On average, sell-side analysts forecast that ChargePoint Holdings, Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ChargePoint news, CAO Henrik Gerdes sold 26,288 shares of ChargePoint stock in a transaction on Friday, October 11th. The shares were sold at an average price of $1.32, for a total value of $34,700.16. Following the sale, the chief accounting officer now directly owns 390,596 shares in the company, valued at approximately $515,586.72. The trade was a 6.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mansi Khetani sold 23,409 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $31,602.15. Following the completion of the sale, the chief financial officer now owns 849,084 shares in the company, valued at approximately $1,146,263.40. The trade was a 2.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,803 shares of company stock valued at $135,295. Corporate insiders own 3.50% of the company’s stock.

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.