Clarity Capital Partners LLC Sells 87,000 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

Clarity Capital Partners LLC lessened its stake in ChargePoint Holdings, Inc. (NYSE:CHPTFree Report) by 65.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,507 shares of the company’s stock after selling 87,000 shares during the period. Clarity Capital Partners LLC’s holdings in ChargePoint were worth $86,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CHPT. Balentine LLC bought a new position in ChargePoint in the fourth quarter valued at approximately $26,000. RWA Wealth Partners LLC bought a new position in shares of ChargePoint in the 4th quarter worth $31,000. PDS Planning Inc acquired a new stake in shares of ChargePoint during the first quarter worth $31,000. Ingalls & Snyder LLC bought a new stake in ChargePoint in the fourth quarter valued at about $33,000. Finally, Sigma Planning Corp acquired a new position in ChargePoint in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 37.77% of the company’s stock.

Insider Buying and Selling

In related news, CEO Richard Wilmer sold 27,722 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $1.40, for a total value of $38,810.80. Following the completion of the sale, the chief executive officer now directly owns 2,331,740 shares in the company, valued at approximately $3,264,436. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Richard Wilmer sold 27,722 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $1.40, for a total transaction of $38,810.80. Following the transaction, the chief executive officer now directly owns 2,331,740 shares of the company’s stock, valued at approximately $3,264,436. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mansi Khetani sold 19,007 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $1.40, for a total value of $26,609.80. Following the completion of the sale, the chief financial officer now owns 402,493 shares in the company, valued at approximately $563,490.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,099 shares of company stock worth $137,498. Insiders own 3.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CHPT. B. Riley upgraded shares of ChargePoint to a “hold” rating in a research report on Tuesday, June 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 price objective on shares of ChargePoint in a research note on Thursday, June 6th. Benchmark reduced their target price on ChargePoint from $4.25 to $3.00 and set a “buy” rating on the stock in a report on Friday, June 28th. The Goldman Sachs Group restated a “sell” rating and issued a $1.50 price target (down from $2.00) on shares of ChargePoint in a report on Tuesday, April 9th. Finally, TD Cowen cut their price objective on ChargePoint from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $4.88.

Check Out Our Latest Analysis on CHPT

ChargePoint Stock Up 8.5 %

Shares of ChargePoint stock traded up $0.15 during trading hours on Wednesday, reaching $1.92. 12,026,726 shares of the company’s stock were exchanged, compared to its average volume of 14,150,194. The company has a current ratio of 2.13, a quick ratio of 1.45 and a debt-to-equity ratio of 1.02. The company has a 50 day moving average of $1.68 and a two-hundred day moving average of $1.82. The stock has a market cap of $812.85 million, a P/E ratio of -1.63 and a beta of 1.72. ChargePoint Holdings, Inc. has a fifty-two week low of $1.21 and a fifty-two week high of $9.23.

ChargePoint (NYSE:CHPTGet Free Report) last issued its quarterly earnings results on Wednesday, June 5th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.03. The firm had revenue of $107.04 million during the quarter, compared to analysts’ expectations of $106.09 million. ChargePoint had a negative return on equity of 127.18% and a negative net margin of 93.05%. On average, sell-side analysts forecast that ChargePoint Holdings, Inc. will post -0.54 EPS for the current fiscal year.

About ChargePoint

(Free Report)

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.

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Institutional Ownership by Quarter for ChargePoint (NYSE:CHPT)

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