Richard Wilmer Sells 27,252 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CEO Richard Wilmer sold 27,252 shares of the business’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 value of $36,790.20. Following the transaction, the chief executive officer now directly owns 2,304,489 shares in the company, valued at approximately $3,111,060.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ChargePoint Trading Down 4.9 %

NYSE CHPT traded down $0.07 on Wednesday, hitting $1.35. 8,997,429 shares of the company’s stock were exchanged, compared to its average volume of 13,872,103. The stock has a 50-day moving average of $1.74 and a 200-day moving average of $1.71. The company has a quick ratio of 1.32, a current ratio of 2.03 and a debt-to-equity ratio of 1.24. ChargePoint Holdings, Inc. has a 52 week low of $1.21 and a 52 week high of $5.23.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wolfe Research assumed coverage on ChargePoint in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Needham & Company LLC reduced their price objective on ChargePoint from $3.00 to $2.00 and set a “buy” rating for the company in a report on Thursday, September 5th. The Goldman Sachs Group reduced their price objective on ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a report on Friday, September 6th. Evercore ISI reduced their price objective on ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Finally, Royal Bank of Canada reduced their price objective on ChargePoint from $3.00 to $2.50 and set a “sector perform” rating for the company in a report on Thursday, September 5th. One equities 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 given a strong buy rating to the company’s stock. According to MarketBeat, ChargePoint has an average rating of “Hold” and an average price target of $3.39.

Institutional Investors Weigh In On ChargePoint

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Treasurer of the State of North Carolina lifted its stake in ChargePoint by 3.7% during the fourth quarter. Treasurer of the State of North Carolina now owns 136,113 shares of the company’s stock worth $319,000 after purchasing an additional 4,910 shares during the last quarter. CIBC Asset Management Inc increased its holdings 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 in the last quarter. Hsbc Holdings PLC increased its holdings in shares of ChargePoint by 41.4% during the second quarter. Hsbc Holdings PLC now owns 26,397 shares of the company’s stock worth $39,000 after buying an additional 7,723 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of ChargePoint by 6.1% during the first quarter. Public Employees Retirement System of Ohio now owns 136,355 shares of the company’s stock worth $259,000 after buying an additional 7,838 shares in the last quarter. Finally, Capital Square LLC increased its holdings in shares of ChargePoint by 47.4% during the first quarter. Capital Square LLC now owns 24,880 shares of the company’s stock worth $47,000 after buying an additional 8,000 shares in the last quarter. 37.77% of the stock is currently owned by institutional investors.

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.