Simmons Bank Purchases Shares of 15,000 ChargePoint Holdings, Inc. (NYSE:CHPT)

Simmons Bank purchased a new position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 15,000 shares of the company’s stock, valued at approximately $35,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of ChargePoint by 12.9% in the 3rd quarter. Vanguard Group Inc. now owns 29,162,249 shares of the company’s stock valued at $144,936,000 after buying an additional 3,325,694 shares during the period. Ingalls & Snyder LLC acquired a new position in ChargePoint during the fourth quarter worth approximately $33,000. Wellington Management Group LLP boosted its holdings in shares of ChargePoint by 418.2% in the third quarter. Wellington Management Group LLP now owns 2,522,247 shares of the company’s stock valued at $12,536,000 after acquiring an additional 2,035,496 shares in the last quarter. Kestra Advisory Services LLC boosted its stake in shares of ChargePoint by 160.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 111,982 shares of the company’s stock worth $557,000 after acquiring an additional 69,044 shares in the last quarter. Finally, Oak Thistle LLC purchased a new position in ChargePoint in the 4th quarter valued at about $266,000. Hedge funds and other institutional investors own 37.77% of the company’s stock.

Insider Buying and Selling

In other ChargePoint news, Director Michael Linse sold 100,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $1.94, for a total transaction of $194,000.00. Following the sale, the director now owns 1,209,867 shares in the company, valued at approximately $2,347,141.98. The transaction was disclosed in a filing with the SEC, which is available through this link. In other ChargePoint news, CFO Mansi Khetani sold 19,035 shares of ChargePoint stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total transaction of $35,595.45. Following the completion of the sale, the chief financial officer now owns 421,500 shares of the company’s stock, valued at approximately $788,205. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Linse sold 100,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $1.94, for a total transaction of $194,000.00. Following the completion of the transaction, the director now directly owns 1,209,867 shares in the company, valued at $2,347,141.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,846 shares of company stock worth $296,562. Corporate insiders own 12.90% of the company’s stock.

ChargePoint Stock Performance

CHPT opened at $1.74 on Thursday. ChargePoint Holdings, Inc. has a 1-year low of $1.21 and a 1-year high of $10.10. The company has a market capitalization of $725.28 million, a price-to-earnings ratio of -1.40 and a beta of 1.69. The business has a 50 day moving average price of $1.70 and a two-hundred day moving average price of $2.06. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.25 and a quick ratio of 1.65.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.01. ChargePoint had a negative return on equity of 125.19% and a negative net margin of 90.32%. The business had revenue of $115.83 million during the quarter, compared to analyst estimates of $126.48 million. Research analysts predict that ChargePoint Holdings, Inc. will post -0.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CHPT. DA Davidson restated a “buy” rating and set a $4.00 price objective on shares of ChargePoint in a report on Wednesday, March 6th. Needham & Company LLC reissued a “buy” rating and set a $3.00 price target on shares of ChargePoint in a research report on Thursday, April 4th. The Goldman Sachs Group reiterated a “sell” rating and set a $1.50 target price (down previously from $2.00) on shares of ChargePoint in a research note on Tuesday, April 9th. Royal Bank of Canada restated a “sector perform” rating and issued a $3.00 price target (down 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 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. According to MarketBeat, ChargePoint has an average rating of “Hold” and an average target price of $5.46.

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.