Janney Montgomery Scott LLC Sells 73,530 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

Janney Montgomery Scott LLC decreased its shares in ChargePoint Holdings, Inc. (NYSE:CHPT – Free Report) by 79.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,500 shares of the company after selling 73,530 shares during the quarter. Janney Montgomery Scott LLC’s shares of ChargePoint were worth $37,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Balentine LLC purchased a new position in ChargePoint during the 4th quarter worth approximately $26,000. RWA Wealth Partners LLC purchased a new position in shares of ChargePoint during the 4th quarter worth approximately $31,000. Sigma Planning Corp purchased a new position in shares of ChargePoint during the 4th quarter worth approximately $33,000. Ingalls & Snyder LLC purchased a new position in shares of ChargePoint during the 4th quarter worth approximately $33,000. Finally, TCG Advisory Services LLC purchased a new position in shares of ChargePoint during the 4th quarter worth approximately $33,000. 37.77% of the shares are currently held by institutional investors.

Insider activity

In other news, CAO Henrik Gerdes sold 43,596 shares of the company’s stock in a transaction that occurred on Thursday, June 20. The shares were 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 owns 438,004 shares of the company’s stock, valued at approximately $657,006. The transaction was disclosed in a document filed with the SEC, which is available on the SEC’s website. In other news, CAO Henrik Gerdes sold 43,596 shares of the company’s stock in a transaction that occurred on Thursday, June 20. The shares were 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 owns 438,004 shares of the company’s stock, valued at approximately $657,006. The transaction was disclosed in a document filed with the SEC, which is available on the SEC website. Also, CFO Mansi Khetani sold 19,007 shares of the company’s stock in a transaction that occurred on Friday, June 21. The shares were sold at an average price of $1.40, for a total value of $26,609.80. Following the completion of the transaction, the chief financial officer now owns 402,493 shares of the company’s stock, valued at approximately $563,490.20. The disclosure for this sale can be found here. Insiders sold a total of 95,099 shares of the company’s stock during the last quarter, valued at $137,498. 3.50% of the shares are held by company insiders.

ChargePoint trading up 7.9%

NYSE CHPT opened at $2.19 on Friday. ChargePoint Holdings, Inc. has a 52-week low of $1.21 and a 52-week high of $8.68. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.45 and a current ratio of 2.13. The stock has a 50-day simple moving average of $1.77 and a 200-day simple moving average of $1.80. The stock has a market cap of $927.16 million, a price/earnings ratio of -1.86 and a beta of 1.72.

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CHPT. Benchmark lowered their price objective on ChargePoint from $4.25 to $3.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. B. Riley raised ChargePoint to a “hold” rating in a research report on Tuesday, June 25th. The Goldman Sachs Group reiterated a “sell” rating and set a $1.50 price target on shares of ChargePoint (down from $2.00) in a research report on Tuesday, April 9th. TD Cowen lowered their price objective on ChargePoint from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, June 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $3.00 price target on shares of ChargePoint in a report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.88.

Check out our latest report on ChargePoint

ChargePoint Profile

(Free Report)

ChargePoint Holdings, Inc., together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in North America and Europe. The company serves commercial customers, such as retail, workplace, hospitality, parking, recreation, municipal, education and highway fast charging; fleet customers, including delivery, take-home, logistics, motorpool, public transportation and shared mobility; and residential customers, including single-family homes and multi-family apartments and condominiums.

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