ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Sells $14,165.55 in Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Henrik Gerdes sold 10,493 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $14,165.55. Following the transaction, the chief accounting officer now owns 416,884 shares in the company, valued at approximately $562,793.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

ChargePoint Trading Down 4.9 %

Shares of ChargePoint stock traded down $0.07 during trading hours on Wednesday, hitting $1.35. The company’s stock had a trading volume of 8,997,429 shares, compared to its average volume of 13,872,103. The stock has a market cap of $582.63 million, a price-to-earnings ratio of -1.14 and a beta 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. ChargePoint Holdings, Inc. has a twelve month low of $1.21 and a twelve month high of $5.23. The firm has a fifty day moving average of $1.74 and a 200-day moving average of $1.71.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CHPT. The Goldman Sachs Group reduced 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. Royal Bank of Canada reduced their price objective on shares of ChargePoint from $3.00 to $2.50 and set a “sector perform” rating for the company in a research report on Thursday, September 5th. Evercore ISI dropped their target price on shares of ChargePoint from $6.00 to $4.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Needham & Company LLC reduced their price target on shares of ChargePoint from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Finally, TD Cowen lowered shares of ChargePoint from a “buy” rating to a “hold” rating and decreased their price target for the company from $3.00 to $2.00 in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $3.39.

Institutional Trading of ChargePoint

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its position in ChargePoint by 30.9% in the fourth quarter. Victory Capital Management Inc. now owns 38,112 shares of the company’s stock valued at $89,000 after purchasing an additional 8,992 shares during the period. Norges Bank purchased a new stake in shares of ChargePoint in the 4th quarter valued at $9,733,000. Dynamic Technology Lab Private Ltd acquired a new position in ChargePoint during the 4th quarter worth about $42,000. Advisory Services Network LLC boosted its holdings in ChargePoint by 1,171.1% during the 4th quarter. Advisory Services Network LLC now owns 145,991 shares of the company’s stock valued at $342,000 after acquiring an additional 134,506 shares during the period. Finally, IPG Investment Advisors LLC acquired a new position in ChargePoint in the 4th quarter valued at about $166,000. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

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.