Insider Selling: ChargePoint Holdings, Inc. (NYSE:CHPT) CEO Sells $36,790.20 in Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CEO Richard Wilmer sold 27,252 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $36,790.20. Following the transaction, the chief executive officer now owns 2,304,489 shares of the company’s stock, valued at approximately $3,111,060.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

ChargePoint Stock Performance

Shares of CHPT opened at $1.37 on Friday. The firm has a market capitalization of $591.26 million, a P/E ratio of -1.16 and a beta of 1.70. ChargePoint Holdings, Inc. has a 52 week low of $1.21 and a 52 week high of $5.18. The stock has a 50 day moving average price of $1.70 and a two-hundred day moving average price of $1.70. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.32 and a current ratio of 2.03.

Institutional Investors Weigh In On ChargePoint

Several institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. purchased a new position in ChargePoint during the 2nd quarter worth $13,007,000. Vanguard Group Inc. lifted its position in shares of ChargePoint by 26.3% during the first quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock valued at $69,708,000 after purchasing an additional 7,645,210 shares in the last quarter. Norges Bank purchased a new position in ChargePoint during the fourth quarter worth about $9,733,000. AQR Capital Management LLC bought a new stake in ChargePoint in the 2nd quarter worth about $1,310,000. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in ChargePoint by 62.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,623,836 shares of the company’s stock valued at $2,452,000 after buying an additional 621,536 shares during the last quarter. Institutional investors own 37.77% of the company’s stock.

Analysts Set New Price Targets

CHPT has been the subject of a number of analyst reports. TD Cowen downgraded shares of ChargePoint from a “buy” rating to a “hold” rating and lowered their target price for the stock from $3.00 to $2.00 in a research note on Thursday, September 5th. Benchmark reissued a “buy” rating and issued a $3.00 price objective on shares of ChargePoint in a research note on Thursday, September 5th. The Goldman Sachs Group decreased their target price on ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a research note on Friday, September 6th. Wolfe Research assumed coverage on ChargePoint in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Evercore ISI reduced their price objective on shares of ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $3.39.

About ChargePoint

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.