Wedmont Private Capital Sells 18,619 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

Wedmont Private Capital lowered its holdings in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 32.6% during the third quarter, Holdings Channel reports. The firm owned 38,471 shares of the company’s stock after selling 18,619 shares during the period. Wedmont Private Capital’s holdings in ChargePoint were worth $57,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CHPT. Point72 Asset Management L.P. acquired a new stake in shares of ChargePoint in the second quarter worth about $13,007,000. Vanguard Group Inc. raised its stake in shares of ChargePoint by 26.3% in the 1st quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock valued at $69,708,000 after acquiring an additional 7,645,210 shares in the last quarter. AQR Capital Management LLC acquired a new stake in ChargePoint in the 2nd quarter worth approximately $1,310,000. Skandinaviska Enskilda Banken AB publ boosted its position in ChargePoint by 62.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,623,836 shares of the company’s stock worth $2,452,000 after purchasing an additional 621,536 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in ChargePoint during the fourth quarter valued at approximately $1,257,000. Institutional investors and hedge funds own 37.77% of the company’s stock.

ChargePoint Stock Performance

Shares of NYSE:CHPT opened at $1.34 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.32. The business’s fifty day moving average price is $1.56 and its two-hundred day moving average price is $1.67. ChargePoint Holdings, Inc. has a fifty-two week low of $1.21 and a fifty-two week high of $3.76. The stock has a market capitalization of $578.32 million, a price-to-earnings ratio of -1.35 and a beta of 1.69.

ChargePoint (NYSE:CHPT) last announced its earnings results on Wednesday, September 4th. The company reported ($0.15) EPS for the quarter, hitting the consensus estimate of ($0.15). ChargePoint had a negative return on equity of 112.67% and a negative net margin of 89.12%. The business had revenue of $108.54 million for the quarter, compared to the consensus estimate of $114.15 million. As a group, analysts predict that ChargePoint Holdings, Inc. will post -0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

CHPT has been the subject of several recent analyst reports. TD Cowen downgraded shares of ChargePoint from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $3.00 to $2.00 in a report on Thursday, September 5th. B. Riley upgraded shares of ChargePoint to a “hold” rating in a report on Tuesday, June 25th. Wolfe Research began coverage on ChargePoint in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. downgraded ChargePoint from an “overweight” rating to an “underweight” rating in a research note on Thursday, October 3rd. Finally, Capital One Financial raised ChargePoint to a “strong-buy” rating in a research report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $3.39.

Insider Activity

In other ChargePoint 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 transaction of $36,790.20. Following the sale, the chief executive officer now owns 2,304,489 shares of the company’s stock, valued at $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 can be accessed through this hyperlink. In other ChargePoint news, CEO Richard Wilmer sold 27,252 shares of the 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 transaction, the chief executive officer now directly owns 2,304,489 shares in the company, valued at approximately $3,111,060.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $31,602.15. Following the sale, 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 worth $100,595. 3.50% of the stock is owned by corporate 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.