Sanctuary Advisors LLC Takes Position in ChargePoint Holdings, Inc. (NYSE:CHPT)

Sanctuary Advisors LLC acquired a new position in ChargePoint Holdings, Inc. (NYSE:CHPT) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 91,417 shares of the company’s stock, valued at approximately $138,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its stake 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 period. CreativeOne Wealth LLC bought a new stake in ChargePoint in the first quarter valued at about $30,000. PDS Planning Inc acquired a new position in ChargePoint in the first quarter valued at about $31,000. Delap Wealth Advisory LLC bought a new position in ChargePoint during the second quarter worth about $31,000. Finally, Perennial Investment Advisors LLC grew its position in shares of ChargePoint by 74.4% during the 2nd quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company’s stock worth $37,000 after buying an additional 10,400 shares during the period. 37.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on CHPT shares. Royal Bank of Canada cut their price target on shares of ChargePoint from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research report on Thursday, September 5th. B. Riley upgraded shares of ChargePoint to a “hold” rating in a report on Tuesday, June 25th. Benchmark reissued a “buy” rating and issued a $3.00 price target on shares of ChargePoint in a report on Thursday, September 5th. UBS Group lowered their price objective on shares of ChargePoint from $1.80 to $1.50 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Finally, Needham & Company LLC reduced their target price on ChargePoint from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $2.65.

ChargePoint Trading Down 2.9 %

NYSE:CHPT opened at $1.32 on Tuesday. 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 Holdings, Inc. has a twelve month low of $1.21 and a twelve month high of $3.54. The business has a 50 day moving average price of $1.52 and a two-hundred day moving average price of $1.65.

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 net margin of 89.12% and a negative return on equity of 112.67%. The business had revenue of $108.54 million during the quarter, compared to analysts’ expectations of $114.15 million. Equities analysts predict that ChargePoint Holdings, Inc. will post -0.56 earnings per share for the current year.

Insider Activity

In related news, CAO Henrik Gerdes sold 26,288 shares of the company’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 sale, the chief accounting officer now owns 390,596 shares in the company, valued at approximately $515,586.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Mansi Khetani sold 23,409 shares of ChargePoint stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $1.35, for a total value of $31,602.15. Following the completion of the transaction, the chief financial officer now owns 849,084 shares of the company’s stock, valued at $1,146,263.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Henrik Gerdes sold 26,288 shares of the business’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 owns 390,596 shares in the company, valued at $515,586.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,803 shares of company stock worth $135,295 in the last quarter. Corporate insiders own 3.50% 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.