Insider Selling: ChargePoint Holdings, Inc. (NYSE:CHPT) CEO Sells 27,252 Shares of Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CEO Richard Wilmer sold 27,252 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $36,790.20. Following the sale, the chief executive officer now owns 2,304,489 shares of the company’s stock, valued at approximately $3,111,060.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

ChargePoint Stock Performance

NYSE CHPT opened at $1.35 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 1.24. ChargePoint Holdings, Inc. has a 12 month low of $1.21 and a 12 month high of $5.23. The company has a market capitalization of $582.63 million, a PE ratio of -1.14 and a beta of 1.70. The stock has a 50-day simple moving average of $1.71 and a 200 day simple moving average of $1.70.

Wall Street Analyst Weigh In

CHPT has been the subject of a number of research analyst reports. The Goldman Sachs Group cut their target price on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a research note on Friday, September 6th. TD Cowen downgraded ChargePoint from a “buy” rating to a “hold” rating and cut their price objective for the company from $3.00 to $2.00 in a research report on Thursday, September 5th. Evercore ISI decreased their target price on ChargePoint from $6.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Benchmark reaffirmed a “buy” rating and issued a $3.00 price target on shares of ChargePoint in a report on Thursday, September 5th. Finally, Royal Bank of Canada decreased their price objective on shares of ChargePoint from $3.00 to $2.50 and set a “sector perform” rating on the stock in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ChargePoint has a consensus rating of “Hold” and a consensus price target of $3.39.

Institutional Trading of ChargePoint

A number of institutional investors and hedge funds have recently modified their holdings of CHPT. Sanctuary Advisors LLC bought a new stake in ChargePoint in the second quarter valued at approximately $138,000. Point72 Asset Management L.P. bought a new stake in shares of ChargePoint in the 2nd quarter valued at $13,007,000. Creative Planning raised its stake in ChargePoint by 152.3% during the 2nd quarter. Creative Planning now owns 188,363 shares of the company’s stock worth $284,000 after buying an additional 113,699 shares during the period. Algert Global LLC acquired a new position in ChargePoint in the second quarter valued at about $58,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of ChargePoint in the second quarter worth about $231,000. 37.77% of the stock is 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.