Sanctuary Advisors LLC Decreases Stake in ChargePoint Holdings, Inc. (NYSE:CHPT)

Sanctuary Advisors LLC cut its holdings in ChargePoint Holdings, Inc. (NYSE:CHPT) by 47.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,488 shares of the company’s stock after selling 28,918 shares during the quarter. Sanctuary Advisors LLC’s holdings in ChargePoint were worth $32,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Strategic Investment Advisors MI acquired a new position in ChargePoint during the fourth quarter worth $46,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in ChargePoint by 131.0% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 36,628 shares of the company’s stock worth $50,000 after purchasing an additional 20,773 shares during the last quarter. Jeppson Wealth Management LLC raised its holdings in ChargePoint by 28.3% during the third quarter. Jeppson Wealth Management LLC now owns 42,940 shares of the company’s stock worth $59,000 after purchasing an additional 9,480 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in ChargePoint by 144.7% during the third quarter. Integrated Wealth Concepts LLC now owns 50,170 shares of the company’s stock worth $69,000 after purchasing an additional 29,669 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new position in ChargePoint during the third quarter worth $117,000. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

ChargePoint Stock Performance

NYSE CHPT opened at $0.70 on Friday. The business’s 50-day moving average price is $0.92 and its 200 day moving average price is $1.20. ChargePoint Holdings, Inc. has a twelve month low of $0.56 and a twelve month high of $2.44. The company has a market capitalization of $310.52 million, a PE ratio of -0.95 and a beta of 1.85. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65.

ChargePoint (NYSE:CHPT) last released its earnings results on Tuesday, March 4th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. The business had revenue of $101.89 million for the quarter, compared to analysts’ expectations of $100.99 million. On average, research analysts predict that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current year.

Insider Buying and Selling

In other ChargePoint news, CAO Henrik Gerdes sold 28,536 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $32,531.04. Following the completion of the sale, the chief accounting officer now directly owns 362,060 shares in the company, valued at $412,748.40. This represents a 7.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mansi Khetani sold 22,038 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $1.14, for a total value of $25,123.32. Following the sale, the chief financial officer now owns 1,230,305 shares of the company’s stock, valued at $1,402,547.70. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,148 shares of company stock worth $99,349. 3.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Royal Bank of Canada reduced their price objective on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a report on Thursday, December 5th. Benchmark reaffirmed a “buy” rating and set a $3.00 price objective on shares of ChargePoint in a report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a report on Wednesday. UBS Group reduced their price objective on ChargePoint from $1.50 to $1.30 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group reduced their price objective on ChargePoint from $1.00 to $0.75 and set a “sell” rating on the stock in a research report on Thursday, February 20th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.13.

ChargePoint Company Profile

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.