RHO Capital Partners Inc. lessened its position in ChargePoint Holdings, Inc. (NYSE:CHPT) by 3.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,142,341 shares of the company’s stock after selling 913,822 shares during the period. ChargePoint comprises about 76.8% of RHO Capital Partners Inc.’s portfolio, making the stock its largest holding. RHO Capital Partners Inc. owned 7.88% of ChargePoint worth $838,705,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in ChargePoint in the 1st quarter valued at $27,000. Winch Advisory Services LLC acquired a new position in shares of ChargePoint in the second quarter valued at $29,000. Wagner Wealth Management LLC acquired a new stake in shares of ChargePoint during the 1st quarter worth about $32,000. Financial Insights Inc. bought a new stake in shares of ChargePoint during the 2nd quarter worth about $35,000. Finally, Focused Wealth Management Inc grew its stake in ChargePoint by 1,754.0% in the 2nd quarter. Focused Wealth Management Inc now owns 1,168 shares of the company’s stock valued at $41,000 after buying an additional 1,105 shares during the last quarter. Institutional investors own 31.26% of the company’s stock.
In other news, CMO Colleen Jansen sold 5,634 shares of the business’s stock in a transaction that occurred on Wednesday, June 30th. The stock was sold at an average price of $31.99, for a total value of $180,231.66. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael Linse sold 6,831,700 shares of the business’s stock in a transaction on Monday, July 19th. The stock was sold at an average price of $23.50, for a total value of $160,544,950.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,162,269 shares of company stock valued at $262,300,141. Corporate insiders own 39.50% of the company’s stock.
ChargePoint (NYSE:CHPT) last announced its quarterly earnings data on Tuesday, August 31st. The company reported ($0.13) EPS for the quarter, hitting the consensus estimate of ($0.13). The company had revenue of $56.12 million for the quarter, compared to analyst estimates of $49.06 million. The business’s quarterly revenue was up 60.5% compared to the same quarter last year. During the same period last year, the business earned ($6.97) EPS. Analysts anticipate that ChargePoint Holdings, Inc. will post -0.71 EPS for the current year.
A number of equities research analysts recently issued reports on CHPT shares. Jefferies Financial Group reduced their price target on ChargePoint from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, September 2nd. Cowen boosted their price target on ChargePoint from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, June 23rd. Zacks Investment Research downgraded shares of ChargePoint from a “hold” rating to a “sell” rating in a research note on Tuesday, June 8th. DA Davidson assumed coverage on shares of ChargePoint in a report on Wednesday, July 28th. They set a “buy” rating and a $30.00 price target for the company. Finally, Needham & Company LLC decreased their price objective on shares of ChargePoint from $39.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, September 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, ChargePoint presently has an average rating of “Buy” and a consensus price target of $32.73.
ChargePoint Holdings, Inc provides electric vehicle (EV) charging networks and charging solutions in the United States. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. The company was founded in 2007 and is headquartered in Campbell, California.
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