ChargePoint Holdings, Inc. (NYSE:CHPT) Stock Holdings Trimmed by Firsthand Capital Management Inc.

Firsthand Capital Management Inc. decreased its holdings in ChargePoint Holdings, Inc. (NYSE:CHPT) by 16.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,000 shares of the company’s stock after selling 11,600 shares during the quarter. Firsthand Capital Management Inc.’s holdings in ChargePoint were worth $82,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. CIBC Asset Management Inc increased 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 buying an additional 5,770 shares during the period. Hsbc Holdings PLC increased its stake in shares of ChargePoint by 41.4% during the second quarter. Hsbc Holdings PLC now owns 26,397 shares of the company’s stock valued at $39,000 after acquiring an additional 7,723 shares during the period. Public Employees Retirement System of Ohio raised its holdings in ChargePoint by 6.1% during the first quarter. Public Employees Retirement System of Ohio now owns 136,355 shares of the company’s stock worth $259,000 after purchasing an additional 7,838 shares in the last quarter. PFG Investments LLC lifted its position in ChargePoint by 32.2% in the second quarter. PFG Investments LLC now owns 34,102 shares of the company’s stock worth $51,000 after purchasing an additional 8,297 shares during the period. Finally, Jeppson Wealth Management LLC boosted its stake in ChargePoint by 28.3% during the 3rd quarter. Jeppson Wealth Management LLC now owns 42,940 shares of the company’s stock valued at $59,000 after purchasing an additional 9,480 shares in the last quarter. 37.77% of the stock is owned by institutional investors and hedge funds.

ChargePoint Price Performance

Shares of NYSE:CHPT opened at $1.21 on Friday. The firm has a market cap of $522.21 million, a price-to-earnings ratio of -1.22 and a beta of 1.70. ChargePoint Holdings, Inc. has a 1 year low of $1.05 and a 1 year high of $3.13. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 1.24. The business has a fifty day simple moving average of $1.27 and a 200 day simple moving average of $1.58.

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

Insider Activity at ChargePoint

In other ChargePoint news, CAO Henrik Gerdes sold 26,288 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $1.32, for a total transaction of $34,700.16. Following the transaction, the chief accounting officer now directly owns 390,596 shares in the company, valued at $515,586.72. This trade represents a 6.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard Wilmer sold 27,252 shares of ChargePoint stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $1.35, for a total transaction of $36,790.20. Following the completion of the transaction, the chief executive officer now directly owns 2,304,489 shares in the company, valued at approximately $3,111,060.15. This represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,803 shares of company stock valued at $135,295. 3.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CHPT. Stifel Nicolaus dropped their price objective on ChargePoint from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Wolfe Research began coverage on shares of ChargePoint in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Benchmark restated a “buy” rating and set a $3.00 price objective on shares of ChargePoint in a research report on Wednesday, November 20th. Needham & Company LLC downgraded shares of ChargePoint from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Finally, Capital One Financial raised shares of ChargePoint to a “strong-buy” rating in a research note on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2.47.

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.