Handelsbanken Fonder AB Reduces Stock Position in ChargePoint Holdings, Inc. (NYSE:CHPT)

Handelsbanken Fonder AB trimmed its position in ChargePoint Holdings, Inc. (NYSE:CHPT) by 92.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,190 shares of the company’s stock after selling 788,463 shares during the quarter. Handelsbanken Fonder AB’s holdings in ChargePoint were worth $155,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ingalls & Snyder LLC purchased a new position in ChargePoint during the 4th quarter worth approximately $33,000. Ballentine Partners LLC purchased a new position in shares of ChargePoint during the fourth quarter worth $34,000. Jeppson Wealth Management LLC acquired a new position in ChargePoint during the fourth quarter valued at $40,000. Brave Asset Management Inc. purchased a new stake in ChargePoint in the fourth quarter valued at $54,000. Finally, O ROURKE & COMPANY Inc grew its position in ChargePoint by 34.2% during the 4th quarter. O ROURKE & COMPANY Inc now owns 24,380 shares of the company’s stock worth $57,000 after purchasing an additional 6,207 shares during the period. Institutional investors and hedge funds own 37.77% of the company’s stock.

ChargePoint Stock Performance

Shares of NYSE:CHPT opened at $1.67 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.25 and a quick ratio of 1.65. ChargePoint Holdings, Inc. has a 1 year low of $1.21 and a 1 year high of $10.10. The firm has a market capitalization of $698.11 million, a PE ratio of -1.28 and a beta of 1.69. The business’s 50 day moving average price is $1.72 and its 200-day moving average price is $2.11.

ChargePoint (NYSE:CHPT) last announced its 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 company had revenue of $115.83 million for 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%. As a group, equities research analysts expect that ChargePoint Holdings, Inc. will post -0.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity at ChargePoint

In other ChargePoint news, CFO Mansi Khetani sold 19,035 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total transaction of $35,595.45. Following the transaction, 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 is accessible through this link. In other news, Director Michael Linse sold 100,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,347,141.98. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mansi Khetani sold 19,035 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total transaction of $35,595.45. Following the sale, the chief financial officer now owns 421,500 shares of the company’s stock, valued at approximately $788,205. The disclosure for this sale can be found here. In the last quarter, insiders sold 154,846 shares of company stock valued at $296,562. Corporate insiders own 12.90% 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.