ChargePoint Holdings, Inc. (NYSE:CHPT) Insider Rebecca Chavez Sells 24,494 Shares

ChargePoint Holdings, Inc. (NYSE:CHPT) insider Rebecca Chavez sold 24,494 shares of ChargePoint stock in a transaction on Friday, March 21st. The stock was sold at an average price of $0.65, for a total transaction of $15,921.10. Following the transaction, the insider now owns 1,173,568 shares in the company, valued at approximately $762,819.20. This trade represents a 2.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

ChargePoint Trading Up 3.7 %

NYSE:CHPT opened at $0.69 on Friday. The firm has a fifty day simple moving average of $0.82 and a two-hundred day simple moving average of $1.10. ChargePoint Holdings, Inc. has a 12 month low of $0.56 and a 12 month high of $2.44. The stock has a market capitalization of $303.45 million, a price-to-earnings ratio of -0.93 and a beta of 1.85. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings results on Tuesday, March 4th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The firm had revenue of $101.89 million for the quarter, compared to analyst estimates of $100.99 million. ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. Analysts expect that ChargePoint Holdings, Inc. will post -0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CHPT. Perennial Advisors LLC bought a new stake in ChargePoint during the fourth quarter worth $26,000. 111 Capital bought a new stake in shares of ChargePoint in the 4th quarter worth $26,000. Brevan Howard Capital Management LP purchased a new stake in shares of ChargePoint in the fourth quarter valued at about $27,000. Cibc World Markets Corp bought a new position in shares of ChargePoint during the fourth quarter valued at about $40,000. Finally, Callan Family Office LLC purchased a new position in ChargePoint during the fourth quarter worth about $45,000. 37.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on CHPT. Stifel Nicolaus reduced their price target on ChargePoint from $2.00 to $1.00 and set a “hold” rating on the stock in a research report on Monday, March 10th. Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a research report on Wednesday, March 5th. Royal Bank of Canada dropped their price target 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. The Goldman Sachs Group decreased their price objective on shares of ChargePoint from $1.00 to $0.75 and set a “sell” rating for the company in a research report on Thursday, February 20th. Finally, UBS Group set a $1.50 target price on shares of ChargePoint in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ChargePoint currently has an average rating of “Hold” and a consensus price target of $2.03.

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.