ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Sells $32,531.04 in Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Henrik Gerdes sold 28,536 shares of ChargePoint stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total value of $32,531.04. Following the sale, the chief accounting officer now owns 362,060 shares of the company’s stock, valued at approximately $412,748.40. This trade represents a 7.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Henrik Gerdes also recently made the following trade(s):

• On Friday, October 11th, Henrik Gerdes sold 26,288 shares of ChargePoint stock. The shares were sold at an average price of $1.32, for a total transaction of $34,700.16.

ChargePoint Stock Down 8.9 %

Shares of ChargePoint stock opened at $1.13 on Tuesday. ChargePoint Holdings, Inc. has a 52-week low of $1.05 and a 52-week high of $2.68. The firm’s 50 day moving average price is $1.23 and its 200-day moving average price is $1.52. The company has a quick ratio of 1.32, a current ratio of 1.94 and a debt-to-equity ratio of 1.65. The company has a market cap of $499.85 million, a P/E ratio of -1.53 and a beta of 1.69.

Hedge Funds Weigh In On ChargePoint

Several institutional investors and hedge funds have recently bought and sold shares of the company. CIBC Asset Management Inc lifted its holdings in shares of ChargePoint by 50.7% during the 2nd quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock valued at $26,000 after purchasing an additional 5,770 shares during the last quarter. Hsbc Holdings PLC increased its position in ChargePoint by 41.4% during the 2nd quarter. Hsbc Holdings PLC now owns 26,397 shares of the company’s stock valued at $39,000 after buying an additional 7,723 shares in the last quarter. PFG Investments LLC raised its stake in ChargePoint by 32.2% in the second quarter. PFG Investments LLC now owns 34,102 shares of the company’s stock valued at $51,000 after buying an additional 8,297 shares during the last quarter. Jeppson Wealth Management LLC boosted its holdings in ChargePoint by 28.3% in the third quarter. Jeppson Wealth Management LLC now owns 42,940 shares of the company’s stock worth $59,000 after acquiring an additional 9,480 shares in the last quarter. Finally, Perennial Investment Advisors LLC grew its stake in shares of ChargePoint by 74.4% during the second quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company’s stock worth $37,000 after acquiring an additional 10,400 shares during the last quarter. 37.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CHPT shares. JPMorgan Chase & Co. lowered shares of ChargePoint from an “overweight” rating to an “underweight” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group reduced their price objective on ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a report on Friday, September 6th. TD Cowen downgraded ChargePoint from a “buy” rating to a “hold” rating and dropped their price target for the stock from $3.00 to $2.00 in a research report on Thursday, September 5th. Benchmark restated a “buy” rating and issued a $3.00 price objective on shares of ChargePoint in a report on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a report on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $2.46.

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.