ChargePoint Holdings, Inc. (NYSE:CHPT) Shares Purchased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC boosted its stake in ChargePoint Holdings, Inc. (NYSE:CHPT) by 384.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,824 shares of the company’s stock after acquiring an additional 18,115 shares during the period. Tower Research Capital LLC TRC’s holdings in ChargePoint were worth $53,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CHPT. Mutual Advisors LLC raised its holdings in shares of ChargePoint by 9.2% during the third quarter. Mutual Advisors LLC now owns 43,910 shares of the company’s stock worth $218,000 after purchasing an additional 3,700 shares during the period. Principal Financial Group Inc. raised its holdings in shares of ChargePoint by 15.2% during the third quarter. Principal Financial Group Inc. now owns 34,480 shares of the company’s stock worth $171,000 after purchasing an additional 4,537 shares during the period. Treasurer of the State of North Carolina raised its holdings in shares of ChargePoint by 3.7% during the fourth quarter. Treasurer of the State of North Carolina now owns 136,113 shares of the company’s stock worth $319,000 after purchasing an additional 4,910 shares during the period. Independent Advisor Alliance raised its holdings in shares of ChargePoint by 34.2% during the fourth quarter. Independent Advisor Alliance now owns 19,945 shares of the company’s stock worth $47,000 after purchasing an additional 5,085 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of ChargePoint by 3.0% during the third quarter. State Board of Administration of Florida Retirement System now owns 206,364 shares of the company’s stock worth $1,026,000 after purchasing an additional 5,940 shares during the period. 37.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on CHPT. R. F. Lafferty lowered their price target on shares of ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Needham & Company LLC reiterated a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a research report on Thursday, April 4th. Benchmark reiterated a “buy” rating and issued a $4.25 target price on shares of ChargePoint in a research report on Wednesday, March 6th. DA Davidson reiterated a “buy” rating and issued a $4.00 target price on shares of ChargePoint in a research report on Wednesday, March 6th. Finally, Oppenheimer reiterated a “market perform” rating on shares of ChargePoint in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.46.

Insider Activity

In other news, Director Michael Linse sold 100,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $1.94, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Richard Wilmer sold 25,376 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1.87, for a total transaction of $47,453.12. Following the transaction, the chief executive officer now owns 2,359,462 shares in the company, valued at approximately $4,412,193.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael Linse sold 100,000 shares of the company’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 transaction, the director now owns 1,209,867 shares in the company, valued at approximately $2,347,141.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 154,846 shares of company stock worth $296,562. Corporate insiders own 12.90% of the company’s stock.

ChargePoint Stock Performance

CHPT stock traded up $0.02 on Tuesday, reaching $1.35. 7,672,152 shares of the company were exchanged, compared to its average volume of 14,026,723. ChargePoint Holdings, Inc. has a 12 month low of $1.21 and a 12 month high of $10.10. The stock’s fifty day moving average price is $1.74 and its 200 day moving average price is $2.12. The firm has a market capitalization of $564.34 million, a PE ratio of -1.09 and a beta of 1.62. 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 posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. ChargePoint had a negative net margin of 90.32% and a negative return on equity of 125.19%. The firm had revenue of $115.83 million for the quarter, compared to the consensus estimate of $126.48 million. On average, research analysts anticipate that ChargePoint Holdings, Inc. will post -0.63 EPS for the current fiscal year.

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.