42,487 Shares in ChargePoint Holdings, Inc. (NYSE:CHPT) Bought by Callan Family Office LLC

Callan Family Office LLC purchased a new position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 42,487 shares of the company’s stock, valued at approximately $45,000.

A number of other hedge funds have also bought and sold shares of CHPT. Erste Asset Management GmbH bought a new stake in ChargePoint during the third quarter worth $2,570,000. Geode Capital Management LLC increased its position in ChargePoint by 4.6% in the third quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company’s stock worth $12,432,000 after buying an additional 399,070 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in ChargePoint in the fourth quarter worth $354,000. XTX Topco Ltd increased its position in ChargePoint by 1,141.0% in the third quarter. XTX Topco Ltd now owns 308,786 shares of the company’s stock worth $423,000 after buying an additional 283,904 shares during the last quarter. Finally, Stifel Financial Corp increased its position in ChargePoint by 15.5% in the third quarter. Stifel Financial Corp now owns 2,055,211 shares of the company’s stock worth $2,816,000 after buying an additional 275,653 shares during the last quarter. 37.77% of the stock is currently owned by institutional investors.

ChargePoint Price Performance

ChargePoint stock opened at $0.68 on Wednesday. ChargePoint Holdings, Inc. has a 52 week low of $0.56 and a 52 week high of $2.44. The business has a 50-day simple moving average of $0.89 and a 200 day simple moving average of $1.16. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 1.65. The stock has a market cap of $300.79 million, a price-to-earnings ratio of -0.92 and a beta of 1.85.

ChargePoint (NYSE:CHPT) last posted its earnings results on Tuesday, March 4th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. The business had revenue of $101.89 million for the quarter, compared to analysts’ expectations of $100.99 million. On average, research analysts forecast that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ChargePoint news, CFO Mansi Khetani sold 22,038 shares of ChargePoint stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $25,123.32. Following the completion of the sale, the chief financial officer now owns 1,230,305 shares of the company’s stock, valued at $1,402,547.70. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Henrik Gerdes sold 28,536 shares of ChargePoint stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $1.14, for a total value of $32,531.04. Following the sale, the chief accounting officer now directly owns 362,060 shares of the company’s stock, valued at approximately $412,748.40. This trade represents a 7.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 87,148 shares of company stock worth $99,349 over the last ninety days. 3.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Benchmark reissued a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a research report on Wednesday, November 20th. UBS Group set a $1.50 target price on ChargePoint in a research report on Wednesday, March 5th. Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a research report on Wednesday, March 5th. Royal Bank of Canada decreased their target price on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a research report on Thursday, December 5th. Finally, The Goldman Sachs Group reduced their price target on ChargePoint from $1.00 to $0.75 and set a “sell” rating for the company in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ChargePoint has an average rating of “Hold” and an average price target of $2.03.

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.