First Washington CORP Reduces Stock Position in ChargePoint Holdings, Inc. (NYSE:CHPT)

First Washington CORP decreased its stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 10.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 775,666 shares of the company’s stock after selling 89,128 shares during the quarter. First Washington CORP owned about 0.18% of ChargePoint worth $1,171,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHPT. Vanguard Group Inc. raised its holdings in shares of ChargePoint by 26.3% during the 1st quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock worth $69,708,000 after acquiring an additional 7,645,210 shares during the period. Norges Bank acquired a new position in ChargePoint in the 4th quarter valued at about $9,733,000. Quadrature Capital Ltd purchased a new stake in shares of ChargePoint in the 4th quarter valued at approximately $1,257,000. Bank of New York Mellon Corp grew its stake in shares of ChargePoint by 60.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,298,289 shares of the company’s stock valued at $1,960,000 after buying an additional 487,262 shares during the period. Finally, Cetera Advisors LLC raised its position in shares of ChargePoint by 752.7% during the 1st quarter. Cetera Advisors LLC now owns 389,584 shares of the company’s stock valued at $740,000 after buying an additional 343,898 shares during the period. Institutional investors and hedge funds own 37.77% of the company’s stock.

Insider Buying and Selling

In other ChargePoint news, CEO Richard Wilmer sold 27,722 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $1.40, for a total value of $38,810.80. Following the sale, the chief executive officer now directly owns 2,331,740 shares in the company, valued at $3,264,436. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Mansi Khetani sold 19,007 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $1.40, for a total transaction of $26,609.80. Following the completion of the sale, the chief financial officer now owns 402,493 shares in the company, valued at $563,490.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Richard Wilmer sold 27,722 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $1.40, for a total transaction of $38,810.80. Following the completion of the transaction, the chief executive officer now owns 2,331,740 shares in the company, valued at $3,264,436. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,099 shares of company stock worth $137,498. Corporate insiders own 3.50% of the company’s stock.

ChargePoint Trading Up 10.9 %

Shares of NYSE:CHPT opened at $1.52 on Wednesday. ChargePoint Holdings, Inc. has a 52 week low of $1.21 and a 52 week high of $5.65. The company’s 50 day moving average is $1.81 and its two-hundred day moving average is $1.73. The company has a market cap of $656.00 million, a PE ratio of -1.29 and a beta of 1.70. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 1.24.

Wall Street Analysts Forecast Growth

CHPT has been the subject of several analyst reports. The Goldman Sachs Group lowered their price objective on ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a research report on Friday, September 6th. TD Cowen lowered ChargePoint from a “buy” rating to a “hold” rating and lowered their price target for the stock from $3.00 to $2.00 in a research report on Thursday, September 5th. Wolfe Research initiated coverage on ChargePoint in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Needham & Company LLC decreased their target price on ChargePoint from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Finally, Evercore ISI lowered their target price on ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $3.39.

ChargePoint Company 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.