ChargePoint Holdings, Inc. (NYSE:CHPT) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC lessened its holdings in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 33.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,406 shares of the company’s stock after selling 31,011 shares during the quarter. Sanctuary Advisors LLC’s holdings in ChargePoint were worth $83,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CHPT. Point72 Asset Management L.P. acquired a new stake in ChargePoint during the 2nd quarter worth approximately $13,007,000. Erste Asset Management GmbH acquired a new stake in shares of ChargePoint in the third quarter valued at $2,570,000. AQR Capital Management LLC purchased a new position in ChargePoint in the second quarter valued at $1,310,000. Skandinaviska Enskilda Banken AB publ grew its stake in ChargePoint by 62.0% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,623,836 shares of the company’s stock worth $2,452,000 after purchasing an additional 621,536 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in ChargePoint by 60.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,298,289 shares of the company’s stock worth $1,960,000 after purchasing an additional 487,262 shares during the period. Hedge funds and other institutional investors own 37.77% of the company’s stock.

ChargePoint Price Performance

Shares of CHPT opened at $1.11 on Tuesday. The firm has a 50-day simple moving average of $1.21 and a 200-day simple moving average of $1.49. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.32 and a current ratio of 1.94. The company has a market capitalization of $491.00 million, a price-to-earnings ratio of -1.50 and a beta of 1.69. ChargePoint Holdings, Inc. has a fifty-two week low of $1.05 and a fifty-two week high of $2.44.

Insider Buying and Selling at ChargePoint

In related news, CFO Mansi Khetani sold 22,038 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $1.14, for a total value of $25,123.32. Following the completion of the sale, the chief financial officer now owns 1,230,305 shares in the company, valued at $1,402,547.70. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jagdeep Ca Singh sold 36,574 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total value of $41,694.36. Following the transaction, the insider now owns 1,161,430 shares in the company, valued at $1,324,030.20. The trade was a 3.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,436 shares of company stock worth $134,049. 3.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CHPT. Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a research report on Thursday, December 5th. Capital One Financial upgraded shares of ChargePoint to a “strong-buy” rating in a report on Tuesday, September 17th. Royal Bank of Canada lowered their target price on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a research note on Thursday, December 5th. Benchmark restated a “buy” rating and issued a $3.00 price target on shares of ChargePoint in a research note on Wednesday, November 20th. Finally, Evercore ISI lowered their price objective on ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.46.

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.