Jagdeep Ca Singh Sells 36,574 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) insider Jagdeep Ca Singh sold 36,574 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $41,694.36. Following the completion of the sale, the insider now directly owns 1,161,430 shares in the company, valued at approximately $1,324,030.20. This trade represents a 3.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

ChargePoint Trading Down 8.9 %

NYSE:CHPT opened at $1.13 on Tuesday. ChargePoint Holdings, Inc. has a one year low of $1.05 and a one year high of $2.68. The business has a fifty day moving average price of $1.23 and a 200-day moving average price of $1.52. The firm has a market capitalization of $499.85 million, a price-to-earnings ratio of -1.53 and a beta of 1.69. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.32.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Capital One Financial upgraded ChargePoint to a “strong-buy” rating in a research note on Tuesday, September 17th. Benchmark reissued a “buy” rating and set a $3.00 price objective on shares of ChargePoint in a research report on Wednesday, November 20th. Royal Bank of Canada reduced 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. Wolfe Research began coverage on shares of ChargePoint in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, The Goldman Sachs Group cut their price objective on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $2.46.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CHPT. CIBC Asset Management Inc raised its holdings in ChargePoint by 50.7% during the second quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock valued at $26,000 after acquiring an additional 5,770 shares during the period. Delap Wealth Advisory LLC bought a new stake in ChargePoint during the 2nd quarter valued at approximately $31,000. Financial Advocates Investment Management purchased a new position in ChargePoint in the 3rd quarter worth approximately $29,000. Perennial Investment Advisors LLC boosted its stake in ChargePoint by 74.4% in the 2nd quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company’s stock worth $37,000 after purchasing an additional 10,400 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in ChargePoint by 152.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,462 shares of the company’s stock valued at $38,000 after buying an additional 15,358 shares in the last quarter. Institutional investors own 37.77% of the company’s stock.

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.