Virtu Financial LLC Invests $399,000 in ChargePoint Holdings, Inc. (NYSE:CHPT)

Virtu Financial LLC bought a new position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) during the first quarter, according to its most recent filing with the SEC. The fund bought 209,968 shares of the company’s stock, valued at approximately $399,000. Virtu Financial LLC owned 0.05% of ChargePoint at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in ChargePoint by 26.3% in the 1st quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock worth $69,708,000 after acquiring an additional 7,645,210 shares during the last quarter. Norges Bank purchased a new stake in ChargePoint in the 4th quarter worth about $9,733,000. Swiss National Bank increased its holdings in ChargePoint by 23.2% in the 1st quarter. Swiss National Bank now owns 742,900 shares of the company’s stock worth $1,412,000 after acquiring an additional 139,700 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in ChargePoint in the 4th quarter worth about $1,257,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in ChargePoint by 32.7% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 443,263 shares of the company’s stock worth $842,000 after acquiring an additional 109,309 shares during the last quarter. Hedge funds and other institutional investors own 37.77% of the company’s stock.

ChargePoint Trading Down 3.5 %

NYSE:CHPT opened at $1.92 on Friday. The business has a 50 day moving average of $1.79 and a 200 day moving average of $1.80. ChargePoint Holdings, Inc. has a 1-year low of $1.21 and a 1-year high of $8.26. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.45 and a current ratio of 2.13.

ChargePoint (NYSE:CHPT) last released its earnings results on Wednesday, June 5th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. The company had revenue of $107.04 million during the quarter, compared to the consensus estimate of $106.09 million. ChargePoint had a negative return on equity of 127.18% and a negative net margin of 93.05%. As a group, research analysts anticipate that ChargePoint Holdings, Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Mansi Khetani sold 19,007 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other ChargePoint news, CFO Mansi Khetani sold 19,007 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 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 $563,490.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard Wilmer sold 27,722 shares of the business’s stock in a transaction that occurred on 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 owns 2,331,740 shares of the company’s stock, valued at approximately $3,264,436. The disclosure for this sale can be found here. Insiders sold 95,099 shares of company stock worth $137,498 in the last quarter. 3.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Benchmark decreased their price objective on ChargePoint from $4.25 to $3.00 and set a “buy” rating for the company in a report on Friday, June 28th. TD Cowen reduced their target price on ChargePoint from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, June 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 target price on shares of ChargePoint in a report on Thursday, June 6th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $1.50 target price (down previously from $2.00) on shares of ChargePoint in a report on Tuesday, April 9th. Finally, B. Riley raised ChargePoint to a “hold” rating in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, ChargePoint has a consensus rating of “Hold” and a consensus price target of $4.88.

ChargePoint 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.