Henrik Gerdes Sells 26,288 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Henrik Gerdes sold 26,288 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $1.32, for a total transaction of $34,700.16. Following the completion of the sale, the chief accounting officer now directly owns 390,596 shares in the company, valued at approximately $515,586.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Monday, September 23rd, Henrik Gerdes sold 10,493 shares of ChargePoint stock. The stock was sold at an average price of $1.35, for a total transaction of $14,165.55.

ChargePoint Price Performance

CHPT stock remained flat at $1.32 during midday trading on Tuesday. The company had a trading volume of 7,945,767 shares, compared to its average volume of 13,673,910. The stock has a market capitalization of $558.84 million, a P/E ratio of -1.12 and a beta of 1.69. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.32. ChargePoint Holdings, Inc. has a fifty-two week low of $1.21 and a fifty-two week high of $3.65. The company’s fifty day simple moving average is $1.55 and its 200 day simple moving average is $1.66.

ChargePoint (NYSE:CHPT) last released its earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.15). The business had revenue of $108.54 million during the quarter, compared to the consensus estimate of $114.15 million. ChargePoint had a negative net margin of 89.12% and a negative return on equity of 112.67%. As a group, research analysts anticipate that ChargePoint Holdings, Inc. will post -0.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Capital One Financial raised shares of ChargePoint to a “strong-buy” rating in a report on Tuesday, September 17th. TD Cowen downgraded shares of ChargePoint from a “buy” rating to a “hold” rating and dropped their target price for the stock from $3.00 to $2.00 in a report on Thursday, September 5th. Wolfe Research assumed coverage on shares of ChargePoint in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Evercore ISI decreased their price target on shares of ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group decreased their price target 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. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.34.

Institutional Investors Weigh In On ChargePoint

Several large investors have recently made changes to their positions in the business. Creative Planning grew its holdings in ChargePoint by 8.8% during the 3rd quarter. Creative Planning now owns 205,008 shares of the company’s stock valued at $281,000 after buying an additional 16,645 shares in the last quarter. Inspire Investing LLC purchased a new position in shares of ChargePoint during the third quarter valued at approximately $412,000. Sanctuary Advisors LLC purchased a new stake in ChargePoint in the second quarter worth $138,000. Point72 Asset Management L.P. bought a new stake in ChargePoint in the second quarter worth $13,007,000. Finally, Algert Global LLC bought a new stake in ChargePoint in the second quarter worth $58,000. 37.77% of the stock is owned by hedge funds and other 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.