apricus wealth LLC Lowers Stake in ChargePoint Holdings, Inc. (NYSE:CHPT)

apricus wealth LLC decreased its position in ChargePoint Holdings, Inc. (NYSE:CHPT) by 38.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,500 shares of the company’s stock after selling 17,500 shares during the quarter. apricus wealth LLC’s holdings in ChargePoint were worth $38,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC purchased a new stake in shares of ChargePoint in the 1st quarter valued at $30,000. PDS Planning Inc purchased a new stake in ChargePoint during the first quarter worth about $31,000. CIBC Asset Management Inc lifted its position in shares of ChargePoint by 50.7% during the second quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock worth $26,000 after purchasing an additional 5,770 shares in the last quarter. Delap Wealth Advisory LLC purchased a new position in shares of ChargePoint in the second quarter valued at approximately $31,000. Finally, Perennial Investment Advisors LLC grew its holdings in shares of ChargePoint by 74.4% in the second quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company’s stock valued at $37,000 after purchasing an additional 10,400 shares in the last quarter. 37.77% of the stock is currently owned by institutional investors and hedge funds.

ChargePoint Stock Performance

Shares of CHPT stock opened at $1.31 on Friday. The stock’s 50-day moving average is $1.50 and its two-hundred day moving average is $1.64. The company has a quick ratio of 1.32, a current ratio of 2.03 and a debt-to-equity ratio of 1.24. ChargePoint Holdings, Inc. has a 1 year low of $1.21 and a 1 year high of $3.54.

ChargePoint (NYSE:CHPT) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.15). The firm had revenue of $108.54 million for the quarter, compared to the consensus estimate of $114.15 million. ChargePoint had a negative return on equity of 112.67% and a negative net margin of 89.12%. As a group, sell-side analysts forecast that ChargePoint Holdings, Inc. will post -0.56 earnings per share for the current year.

Insider Buying and Selling

In other ChargePoint news, CAO Henrik Gerdes sold 26,288 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $1.32, for a total transaction of $34,700.16. Following the completion of the sale, the chief accounting officer now directly owns 390,596 shares of the company’s stock, valued at approximately $515,586.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Richard Wilmer sold 27,252 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $1.35, for a total transaction of $36,790.20. Following the completion of the transaction, the chief executive officer now directly owns 2,304,489 shares of the company’s stock, valued at $3,111,060.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Henrik Gerdes sold 26,288 shares of ChargePoint stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $1.32, for a total value of $34,700.16. Following the completion of the sale, the chief accounting officer now directly owns 390,596 shares in the company, valued at $515,586.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,803 shares of company stock valued at $135,295 over the last quarter. 3.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on CHPT. Benchmark reissued a “buy” rating and issued a $3.00 price target on shares of ChargePoint in a research report on Thursday, September 5th. Wolfe Research initiated coverage on ChargePoint in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Needham & Company LLC cut their price target on ChargePoint from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Capital One Financial raised ChargePoint to a “strong-buy” rating in a research report on Tuesday, September 17th. Finally, TD Cowen downgraded ChargePoint from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $3.00 to $2.00 in a research report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ChargePoint currently has an average rating of “Hold” and a consensus target price of $2.65.

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.