Simmons Bank Makes New Investment in ChargePoint Holdings, Inc. (NYSE:CHPT)

Simmons Bank acquired a new stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,000 shares of the company’s stock, valued at approximately $35,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in CHPT. River Global Investors LLP boosted its position in ChargePoint by 198.1% during the 4th quarter. River Global Investors LLP now owns 157,242 shares of the company’s stock valued at $367,000 after buying an additional 104,486 shares during the period. TCG Advisory Services LLC bought a new stake in shares of ChargePoint in the fourth quarter worth about $33,000. M&T Bank Corp increased its holdings in ChargePoint by 484.7% during the 4th quarter. M&T Bank Corp now owns 73,396 shares of the company’s stock valued at $172,000 after purchasing an additional 60,843 shares during the period. Victory Capital Management Inc. increased its holdings in ChargePoint by 30.9% during the 4th quarter. Victory Capital Management Inc. now owns 38,112 shares of the company’s stock valued at $89,000 after purchasing an additional 8,992 shares during the period. Finally, MGO Private Wealth LLC bought a new position in ChargePoint during the 4th quarter valued at approximately $36,000. Institutional investors own 37.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on CHPT shares. Royal Bank of Canada restated a “sector perform” rating and set a $3.00 target price (down previously from $3.50) on shares of ChargePoint in a report on Wednesday, March 6th. The Goldman Sachs Group reiterated a “sell” rating and set a $1.50 price target (down previously from $2.00) on shares of ChargePoint in a research report on Tuesday, April 9th. Needham & Company LLC restated a “buy” rating and issued a $3.00 price objective on shares of ChargePoint in a report on Thursday, April 4th. DA Davidson reaffirmed a “buy” rating and set a $4.00 price objective on shares of ChargePoint in a research report on Wednesday, March 6th. Finally, Benchmark reiterated a “buy” rating and issued a $4.25 price objective on shares of ChargePoint in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, ChargePoint currently has a consensus rating of “Hold” and an average target price of $5.46.

ChargePoint Trading Down 1.4 %

Shares of ChargePoint stock opened at $1.74 on Thursday. The company’s fifty day simple moving average is $1.70 and its 200-day simple moving average is $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 Holdings, Inc. has a 1-year low of $1.21 and a 1-year high of $10.10. The stock has a market capitalization of $725.28 million, a PE ratio of -1.40 and a beta of 1.69.

ChargePoint (NYSE:CHPT) last released its earnings results on Tuesday, March 5th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.01. The firm had revenue of $115.83 million for the quarter, compared to the consensus estimate of $126.48 million. ChargePoint had a negative net margin of 90.32% and a negative return on equity of 125.19%. As a group, equities analysts anticipate that ChargePoint Holdings, Inc. will post -0.63 earnings per share for the current year.

Insider Activity at ChargePoint

In other ChargePoint news, CEO Richard Wilmer sold 25,376 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1.87, for a total value of $47,453.12. Following the completion of the sale, the chief executive officer now owns 2,359,462 shares of the company’s stock, valued at $4,412,193.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other ChargePoint news, CFO Mansi Khetani sold 19,035 shares of ChargePoint stock in a transaction on Thursday, March 21st. The stock was 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 directly owns 421,500 shares of the company’s stock, valued at approximately $788,205. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard Wilmer sold 25,376 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $47,453.12. Following the transaction, the chief executive officer now directly owns 2,359,462 shares in the company, valued at approximately $4,412,193.94. The disclosure for this sale can be found here. Insiders have sold a total of 154,846 shares of company stock valued at $296,562 over the last 90 days. 12.90% of the stock is owned by corporate insiders.

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.