ChargePoint Holdings, Inc. (NYSE:CHPT) Shares Sold by First Washington CORP

First Washington CORP decreased its position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 10.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 775,666 shares of the company’s stock after selling 89,128 shares during the quarter. First Washington CORP’s holdings in ChargePoint were worth $1,171,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of ChargePoint by 26.3% in the 1st quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock valued at $69,708,000 after purchasing an additional 7,645,210 shares during the period. Norges Bank purchased a new position in ChargePoint in the 4th quarter valued at $9,733,000. Quadrature Capital Ltd purchased a new stake in shares of ChargePoint in the fourth quarter valued at about $1,257,000. Bank of New York Mellon Corp lifted its position in ChargePoint by 60.1% in the second quarter. Bank of New York Mellon Corp now owns 1,298,289 shares of the company’s stock valued at $1,960,000 after purchasing an additional 487,262 shares during the period. Finally, Cetera Advisors LLC boosted its holdings in ChargePoint by 752.7% in the 1st quarter. Cetera Advisors LLC now owns 389,584 shares of the company’s stock valued at $740,000 after purchasing an additional 343,898 shares in the last quarter. Institutional investors and hedge funds own 37.77% of the company’s stock.

Analyst Upgrades and Downgrades

CHPT has been the subject of a number of analyst reports. Royal Bank of Canada cut their target price on ChargePoint from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Thursday, September 5th. Wolfe Research began coverage on ChargePoint in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Needham & Company LLC reduced their target price on ChargePoint from $3.00 to $2.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Evercore ISI lowered their price target on shares of ChargePoint from $6.00 to $4.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Finally, TD Cowen cut shares of ChargePoint from a “buy” rating to a “hold” rating and reduced their price objective for the company from $3.00 to $2.00 in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $3.39.

Insider Activity

In related news, CFO Mansi Khetani sold 19,007 shares of ChargePoint stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $1.40, for a total transaction 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 document filed with the SEC, which is available at the SEC website. In other ChargePoint news, CAO Henrik Gerdes sold 43,596 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $1.50, for a total value of $65,394.00. Following the completion of the transaction, the chief accounting officer now directly owns 438,004 shares in the company, valued at approximately $657,006. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mansi Khetani sold 19,007 shares of the firm’s stock in a transaction 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 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. Insiders have sold 95,099 shares of company stock worth $137,498 over the last three months. 3.50% of the stock is currently owned by corporate insiders.

ChargePoint Price Performance

CHPT stock opened at $1.52 on Wednesday. The stock’s 50 day moving average price is $1.81 and its 200 day moving average price is $1.73. The firm has a market cap of $656.00 million, a P/E ratio of -1.29 and a beta of 1.70. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.45 and a current ratio of 2.03. ChargePoint Holdings, Inc. has a 1 year low of $1.21 and a 1 year high of $5.65.

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.