Algert Global LLC Buys New Stake in ChargePoint Holdings, Inc. (NYSE:CHPT)

Algert Global LLC purchased a new stake in ChargePoint Holdings, Inc. (NYSE:CHPT) in the second quarter, HoldingsChannel reports. The institutional investor purchased 38,250 shares of the company’s stock, valued at approximately $58,000.

Other large investors also recently bought and sold shares of the company. CIBC Asset Management Inc lifted its holdings in shares of ChargePoint by 50.7% in the 2nd quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock valued at $26,000 after purchasing an additional 5,770 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in ChargePoint in the first quarter valued at approximately $30,000. PDS Planning Inc purchased a new stake in ChargePoint in the first quarter valued at approximately $31,000. Delap Wealth Advisory LLC acquired a new stake in shares of ChargePoint in the second quarter valued at approximately $31,000. Finally, Perennial Investment Advisors LLC grew its position in shares of ChargePoint by 74.4% during the second quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company’s stock worth $37,000 after acquiring an additional 10,400 shares during the last quarter. Institutional investors and hedge funds own 37.77% of the company’s stock.

ChargePoint Stock Performance

Shares of CHPT opened at $1.34 on Friday. The company has a market capitalization of $578.32 million, a PE ratio of -1.35 and a beta of 1.69. ChargePoint Holdings, Inc. has a 52-week low of $1.21 and a 52-week high of $3.76. The company has a 50-day simple moving average of $1.56 and a 200-day simple moving average of $1.67. The company has a quick ratio of 1.32, a current ratio of 2.03 and a debt-to-equity ratio of 1.24.

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Capital One Financial upgraded shares of ChargePoint to a “strong-buy” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. downgraded shares of ChargePoint from an “overweight” rating to an “underweight” rating in a research note on Thursday, October 3rd. Needham & Company LLC dropped their price target on ChargePoint from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. B. Riley raised ChargePoint to a “hold” rating in a research report on Tuesday, June 25th. Finally, The Goldman Sachs Group lowered their target price on ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $3.39.

Insider Buying and Selling

In other news, CEO Richard Wilmer sold 27,252 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $36,790.20. Following the completion of the transaction, the chief executive officer now owns 2,304,489 shares in the company, valued at $3,111,060.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Richard Wilmer sold 27,252 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $1.35, for a total value of $36,790.20. Following the sale, the chief executive officer now directly owns 2,304,489 shares of the company’s stock, valued at approximately $3,111,060.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mansi Khetani sold 23,409 shares of ChargePoint stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $31,602.15. Following the transaction, the chief financial officer now owns 849,084 shares of the company’s stock, valued at approximately $1,146,263.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,515 shares of company stock valued at $100,595. 3.50% of the stock is owned by insiders.

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.