ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Henrik Gerdes Sells 43,596 Shares

ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Henrik Gerdes sold 43,596 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $1.50, for a total value of $65,394.00. Following the completion of the sale, the chief accounting officer now owns 438,004 shares in the company, valued at $657,006. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

ChargePoint Trading Down 5.3 %

Shares of CHPT stock opened at $1.42 on Monday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.45 and a current ratio of 2.13. ChargePoint Holdings, Inc. has a 52-week low of $1.21 and a 52-week high of $9.23. The company has a market capitalization of $601.17 million, a PE ratio of -1.20 and a beta of 1.74. The business’s fifty day moving average is $1.62 and its 200 day moving average is $1.89.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. DA Davidson restated a “buy” rating and set a $4.00 price target on shares of ChargePoint in a research note on Wednesday, March 6th. Needham & Company LLC restated a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research report on Thursday, June 6th. Benchmark reiterated a “buy” rating and issued a $4.25 price target on shares of ChargePoint in a research report on Wednesday, March 6th. Oppenheimer reissued a “market perform” rating on shares of ChargePoint in a report on Wednesday, March 6th. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $1.50 target price (down previously from $2.00) on shares of ChargePoint in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, ChargePoint presently has a consensus rating of “Hold” and an average price target of $4.96.

Institutional Investors Weigh In On ChargePoint

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in ChargePoint by 26.3% in the first quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock valued at $69,708,000 after acquiring an additional 7,645,210 shares during the last quarter. Norges Bank bought a new position in ChargePoint in the fourth quarter valued at $9,733,000. Wellington Management Group LLP increased its stake in ChargePoint by 418.2% in the third quarter. Wellington Management Group LLP now owns 2,522,247 shares of the company’s stock valued at $12,536,000 after acquiring an additional 2,035,496 shares during the last quarter. Cadian Capital Management LP bought a new position in ChargePoint in the third quarter valued at $4,970,000. Finally, Quadrature Capital Ltd bought a new position in ChargePoint in the fourth quarter valued at $1,257,000. Hedge funds and other institutional investors own 37.77% of the company’s stock.

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.