ChargePoint Holdings, Inc. (NYSE:CHPT) Position Reduced by Handelsbanken Fonder AB

Handelsbanken Fonder AB cut its position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT - Free Report) by 92.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,190 shares of the company's stock after selling 788,463 shares during the period. Handelsbanken Fonder AB's holdings in ChargePoint were worth $155,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in ChargePoint by 12.9% in the 3rd quarter. Vanguard Group Inc. now owns 29,162,249 shares of the company's stock valued at $144,936,000 after buying an additional 3,325,694 shares during the period. Ingalls & Snyder LLC purchased a new stake in shares of ChargePoint in the 4th quarter valued at approximately $33,000. Wellington Management Group LLP lifted its holdings in shares of ChargePoint by 418.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,522,247 shares of the company's stock worth $12,536,000 after acquiring an additional 2,035,496 shares during the last quarter. Kestra Advisory Services LLC boosted its position in shares of ChargePoint by 160.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 111,982 shares of the company's stock worth $557,000 after purchasing an additional 69,044 shares during the period. Finally, Oak Thistle LLC acquired a new stake in ChargePoint in the 4th quarter valued at approximately $266,000. 37.77% of the stock is currently owned by institutional investors and hedge funds.

ChargePoint Stock Performance

CHPT traded up $0.14 during trading on Friday, hitting $1.66. The stock had a trading volume of 17,511,684 shares, compared to its average volume of 10,917,843. ChargePoint Holdings, Inc. has a twelve month low of $1.21 and a twelve month high of $10.10. The firm has a market capitalization of $693.93 million, a P/E ratio of -1.35 and a beta of 1.69. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.65 and a current ratio of 2.25. The company's 50-day moving average price is $1.71 and its 200 day moving average price is $2.10.

ChargePoint (NYSE:CHPT - Get Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.01. The firm had revenue of $115.83 million during the quarter, compared to analysts' expectations of $126.48 million. ChargePoint had a negative net margin of 90.32% and a negative return on equity of 125.19%. On average, equities research analysts forecast that ChargePoint Holdings, Inc. will post -0.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. The Goldman Sachs Group restated a "sell" rating and set a $1.50 price target (down from $2.00) on shares of ChargePoint in a research report on Tuesday, April 9th. Oppenheimer reiterated a "market perform" rating on shares of ChargePoint in a research note on Wednesday, March 6th. R. F. Lafferty lowered their price objective on shares of ChargePoint from $4.00 to $3.00 and set a "hold" rating for the company in a research note on Wednesday, March 6th. Needham & Company LLC restated a "buy" rating and issued a $3.00 price objective on shares of ChargePoint in a report on Thursday, April 4th. Finally, Benchmark reiterated a "buy" rating and set a $4.25 target price on shares of ChargePoint in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $5.46.

Insiders Place Their Bets

In related news, Director Michael Linse sold 100,000 shares of the firm's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $1.94, for a total value of $194,000.00. Following the completion of the sale, the director now owns 1,209,867 shares in the company, valued at $2,347,141.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ChargePoint news, CFO Mansi Khetani sold 19,035 shares of the company's stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $35,595.45. Following the sale, the chief financial officer now owns 421,500 shares of the company's stock, valued at $788,205. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Linse sold 100,000 shares of the firm's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $1.94, for a total transaction of $194,000.00. Following the transaction, the director now owns 1,209,867 shares of the company's stock, valued at $2,347,141.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 154,846 shares of company stock worth $296,562. 12.90% 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.