Insider Selling: ChargePoint Holdings, Inc. (NYSE:CHPT) Insider Sells 24,494 Shares of Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) insider Rebecca Chavez sold 24,494 shares of ChargePoint stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $0.65, for a total transaction of $15,921.10. Following the sale, the insider now owns 1,173,568 shares of the company’s stock, valued at approximately $762,819.20. This trade represents a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

ChargePoint Trading Up 3.7 %

CHPT traded up $0.02 during trading on Friday, hitting $0.69. 42,138,845 shares of the company’s stock were exchanged, compared to its average volume of 16,797,946. ChargePoint Holdings, Inc. has a 1 year low of $0.56 and a 1 year high of $2.44. The stock has a 50 day moving average price of $0.82 and a 200 day moving average price of $1.11. The firm has a market cap of $303.45 million, a P/E ratio of -0.93 and a beta of 1.85. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65.

ChargePoint (NYSE:CHPT) last issued its earnings results on Tuesday, March 4th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $101.89 million during the quarter, compared to analysts’ expectations of $100.99 million. ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. As a group, analysts expect that ChargePoint Holdings, Inc. will post -0.57 EPS for the current fiscal year.

Institutional Trading of ChargePoint

Several large investors have recently bought and sold shares of CHPT. Toronto Dominion Bank purchased a new position in shares of ChargePoint in the fourth quarter valued at $8,746,000. Millennium Management LLC boosted its position in ChargePoint by 13,605.0% in the 4th quarter. Millennium Management LLC now owns 2,857,349 shares of the company’s stock valued at $3,057,000 after buying an additional 2,836,500 shares during the last quarter. Erste Asset Management GmbH purchased a new position in ChargePoint in the 3rd quarter valued at about $2,570,000. Invesco Ltd. grew its stake in shares of ChargePoint by 13.1% during the fourth quarter. Invesco Ltd. now owns 5,029,849 shares of the company’s stock valued at $5,382,000 after acquiring an additional 583,761 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of ChargePoint by 4.6% during the third quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company’s stock worth $12,432,000 after acquiring an additional 399,070 shares during the last quarter. Institutional investors and hedge funds own 37.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CHPT shares. Royal Bank of Canada decreased their target price on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating on the stock in a research report on Thursday, December 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a research report on Wednesday, March 5th. UBS Group set a $1.50 target price on ChargePoint in a research report on Wednesday, March 5th. Stifel Nicolaus decreased their price target on ChargePoint from $2.00 to $1.00 and set a “hold” rating on the stock in a research note on Monday, March 10th. Finally, The Goldman Sachs Group dropped their price objective on shares of ChargePoint from $1.00 to $0.75 and set a “sell” rating for the company in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.03.

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.