GSA Capital Partners LLP Sells 1,011,956 Shares of ChargePoint Holdings, Inc. $CHPT

GSA Capital Partners LLP lessened its holdings in ChargePoint Holdings, Inc. (NYSE:CHPT) by 97.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,054 shares of the company’s stock after selling 1,011,956 shares during the quarter. GSA Capital Partners LLP owned 0.13% of ChargePoint worth $328,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CHPT. AQR Capital Management LLC boosted its holdings in ChargePoint by 6,429.1% in the 1st quarter. AQR Capital Management LLC now owns 2,679,217 shares of the company’s stock valued at $1,553,000 after purchasing an additional 2,638,182 shares during the period. Goldman Sachs Group Inc. raised its position in shares of ChargePoint by 61.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,790,823 shares of the company’s stock valued at $2,293,000 after buying an additional 1,448,114 shares in the last quarter. Soviero Asset Management LP bought a new stake in shares of ChargePoint in the second quarter valued at approximately $633,000. Brevan Howard Capital Management LP acquired a new stake in ChargePoint during the second quarter worth approximately $517,000. Finally, Qube Research & Technologies Ltd bought a new position in ChargePoint during the 2nd quarter worth $518,000. 37.77% of the stock is owned by institutional investors.

Insider Activity at ChargePoint

In other news, CFO Mansi Khetani sold 3,943 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $6.99, for a total transaction of $27,561.57. Following the completion of the transaction, the chief financial officer owned 130,363 shares of the company’s stock, valued at approximately $911,237.37. This trade represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jagdeep Ca Singh sold 4,832 shares of the business’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $6.99, for a total transaction of $33,775.68. Following the completion of the sale, the insider directly owned 124,627 shares in the company, valued at approximately $871,142.73. This represents a 3.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 12,670 shares of company stock valued at $88,534. Corporate insiders own 3.50% of the company’s stock.

ChargePoint Price Performance

Shares of CHPT opened at $6.57 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 8.38. The stock has a market cap of $155.38 million, a PE ratio of -0.64 and a beta of 1.40. ChargePoint Holdings, Inc. has a 12-month low of $5.53 and a 12-month high of $17.78. The business has a 50-day simple moving average of $6.56 and a two-hundred day simple moving average of $8.98.

ChargePoint (NYSE:CHPT) last released its quarterly earnings results on Thursday, December 4th. The company reported ($2.23) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($0.88). The firm had revenue of $105.67 million for the quarter, compared to the consensus estimate of $96.51 million. ChargePoint had a negative return on equity of 209.46% and a negative net margin of 59.54%.During the same quarter last year, the firm posted ($1.94) earnings per share. Analysts anticipate that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CHPT. B. Riley Financial cut their target price on ChargePoint from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, December 10th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $9.00 price objective (down from $10.00) on shares of ChargePoint in a research report on Friday, December 5th. The Goldman Sachs Group reiterated a “sell” rating and set a $5.00 price objective on shares of ChargePoint in a research note on Thursday, January 15th. UBS Group restated a “neutral” rating and issued a $9.00 target price (down from $12.00) on shares of ChargePoint in a research report on Monday, December 22nd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ChargePoint in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, ChargePoint currently has an average rating of “Reduce” and an average price target of $12.15.

ChargePoint Profile

ChargePoint (NYSE: CHPT) is a leading provider of electric vehicle (EV) charging solutions that designs, develops and markets charging hardware, software and services. The company’s portfolio includes Level 2 AC charging stations for residential, commercial and fleet applications, as well as DC fast charging systems suited for retail, hospitality and public use. ChargePoint’s integrated platform enables site hosts to manage charging infrastructure through cloud-based monitoring, analytics and billing tools, while EV drivers access and control charging sessions via a mobile app or RFID card.

Since its founding in 2007 and headquarters in Campbell, California, ChargePoint has built one of the largest open EV charging networks in the world.