Oppenheimer & Co. Inc. Sells 430,805 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

Oppenheimer & Co. Inc. lowered its position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 76.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 132,666 shares of the company’s stock after selling 430,805 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in ChargePoint were worth $142,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CHPT. Point72 Asia Singapore Pte. Ltd. lifted 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 acquiring an additional 20,773 shares during the period. Strategic Investment Advisors MI purchased a new stake in shares of ChargePoint during the 4th quarter valued at $46,000. Jeppson Wealth Management LLC raised its stake in shares of ChargePoint by 28.3% during the 3rd 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 period. Integrated Wealth Concepts LLC raised its stake in shares of ChargePoint by 144.7% during the 3rd 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 period. Finally, NCP Inc. grew its position in ChargePoint by 210.9% during the fourth quarter. NCP Inc. now owns 62,500 shares of the company’s stock valued at $67,000 after buying an additional 42,400 shares during the period. Hedge funds and other institutional investors own 37.77% of the company’s stock.

Wall Street Analysts Forecast Growth

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

ChargePoint Price Performance

ChargePoint stock opened at $0.74 on Monday. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.24. ChargePoint Holdings, Inc. has a one year low of $0.56 and a one year high of $2.44. The firm has a market capitalization of $325.12 million, a P/E ratio of -0.99 and a beta of 1.85. The business has a fifty day moving average price of $0.91 and a 200-day moving average price of $1.18.

ChargePoint (NYSE:CHPT) last issued its earnings results on Tuesday, March 4th. The company reported ($0.09) EPS 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 company had revenue of $101.89 million during the quarter, compared to the consensus estimate of $100.99 million. As a group, equities research analysts forecast that ChargePoint Holdings, Inc. will post -0.57 EPS for the current year.

Insider Activity at ChargePoint

In related news, CFO Mansi Khetani sold 22,038 shares of the stock in a transaction on 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 in the company, valued at approximately $1,402,547.70. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Henrik Gerdes sold 28,536 shares of the business’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 $32,531.04. Following the transaction, the chief accounting officer now owns 362,060 shares of the company’s stock, valued at approximately $412,748.40. The trade was a 7.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,148 shares of company stock valued at $99,349. 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.