ChargePoint Holdings, Inc. (NYSE:CHPT) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 76.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 592,602 shares of the company’s stock after selling 1,929,645 shares during the period. Wellington Management Group LLP owned 0.14% of ChargePoint worth $1,387,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clarity Capital Partners LLC acquired a new position in ChargePoint in the fourth quarter valued at $310,000. Quadrature Capital Ltd acquired a new position in shares of ChargePoint during the 4th quarter valued at about $1,257,000. Tower Research Capital LLC TRC lifted its holdings in shares of ChargePoint by 384.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 22,824 shares of the company’s stock worth $53,000 after acquiring an additional 18,115 shares during the period. Bridgecreek Investment Management LLC acquired a new stake in shares of ChargePoint in the fourth quarter worth approximately $33,000. Finally, Dorsey & Whitney Trust CO LLC grew its holdings in ChargePoint by 28.2% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 60,880 shares of the company’s stock valued at $142,000 after purchasing an additional 13,383 shares during the period. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ChargePoint

In other ChargePoint news, CAO Henrik Gerdes sold 43,596 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $1.50, for a total transaction of $65,394.00. Following the sale, the chief accounting officer now owns 438,004 shares in the company, valued at $657,006. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other ChargePoint news, CAO Henrik Gerdes sold 43,596 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $1.50, for a total transaction of $65,394.00. Following the sale, the chief accounting officer now directly owns 438,004 shares of the company’s stock, valued at $657,006. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Wilmer sold 27,722 shares of ChargePoint stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $1.40, for a total transaction of $38,810.80. Following the completion of the transaction, the chief executive officer now directly owns 2,331,740 shares of the company’s stock, valued at $3,264,436. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,099 shares of company stock valued at $137,498. Insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CHPT shares. The Goldman Sachs Group reiterated a “sell” rating and issued a $1.50 price target (down previously from $2.00) on shares of ChargePoint in a report on Tuesday, April 9th. DA Davidson restated a “buy” rating and set a $4.00 price target on shares of ChargePoint in a research note on Wednesday, March 6th. B. Riley raised ChargePoint to a “hold” rating in a research note on Tuesday, June 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 target price (down previously from $3.50) on shares of ChargePoint in a research report on Wednesday, March 6th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of ChargePoint in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ChargePoint presently has a consensus rating of “Hold” and a consensus price target of $4.88.

ChargePoint Price Performance

Shares of NYSE CHPT opened at $1.48 on Tuesday. The business has a 50 day moving average price of $1.62 and a two-hundred day moving average price of $1.85. ChargePoint Holdings, Inc. has a fifty-two week low of $1.21 and a fifty-two week high of $9.23. The firm has a market cap of $626.57 million, a PE ratio of -1.25 and a beta of 1.72. The company has a quick ratio of 1.45, a current ratio of 2.13 and a debt-to-equity ratio of 1.02.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings results on Wednesday, June 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.03. The firm had revenue of $107.04 million for the quarter, compared to analysts’ expectations of $106.09 million. ChargePoint had a negative net margin of 93.05% and a negative return on equity of 127.18%. Sell-side analysts expect that ChargePoint Holdings, Inc. will post -0.56 earnings per share for the current fiscal year.

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.