Marathon Trading Investment Management LLC Sells 27,375 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

Marathon Trading Investment Management LLC reduced its stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 26.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,025 shares of the company’s stock after selling 27,375 shares during the quarter. Marathon Trading Investment Management LLC’s holdings in ChargePoint were worth $115,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Balentine LLC bought a new stake in ChargePoint during the 4th quarter worth about $26,000. CIBC Asset Management Inc raised its stake 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 buying an additional 5,770 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in ChargePoint in the first quarter valued at approximately $30,000. PDS Planning Inc bought a new position in ChargePoint in the first quarter valued at approximately $31,000. Finally, Bridgecreek Investment Management LLC acquired a new stake in ChargePoint during the 4th quarter worth $33,000. Institutional investors and hedge funds own 37.77% of the company’s stock.

Insider Buying and Selling

In related news, CFO Mansi Khetani sold 19,007 shares of ChargePoint stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $1.40, for a total value of $26,609.80. Following the sale, the chief financial officer now owns 402,493 shares of the company’s stock, valued at approximately $563,490.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Mansi Khetani sold 19,007 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $1.40, for a total transaction of $26,609.80. Following the completion of the transaction, the chief financial officer now directly owns 402,493 shares of the company’s stock, valued at approximately $563,490.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard Wilmer sold 27,722 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $1.40, for a total transaction of $38,810.80. Following the completion of the sale, the chief executive officer now directly owns 2,331,740 shares in the company, valued at approximately $3,264,436. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,503 shares of company stock worth $72,104. 3.50% of the stock is owned by corporate insiders.

ChargePoint Price Performance

CHPT stock opened at $1.45 on Thursday. The stock has a 50-day moving average price of $1.80 and a two-hundred day moving average price of $1.72. ChargePoint Holdings, Inc. has a 1 year low of $1.21 and a 1 year high of $5.49. The stock has a market cap of $625.79 million, a PE ratio of -1.23 and a beta of 1.70. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 1.24.

Wall Street Analyst Weigh In

CHPT has been the topic of a number of analyst reports. The Goldman Sachs Group cut their price target on ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a research note on Friday, September 6th. B. Riley raised ChargePoint to a “hold” rating in a research note on Tuesday, June 25th. TD Cowen lowered ChargePoint from a “buy” rating to a “hold” rating and decreased their target price for the stock from $3.00 to $2.00 in a research report on Thursday, September 5th. Needham & Company LLC cut their price target on shares of ChargePoint from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Finally, Wolfe Research initiated coverage on shares of ChargePoint in a report on Thursday, September 5th. They set a “peer perform” rating for the company. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, ChargePoint presently has an average rating of “Hold” and an average price target of $3.39.

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.