Insider Selling: ChargePoint Holdings, Inc. (NYSE:CHPT) Insider Sells 36,574 Shares of Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) insider Jagdeep Ca Singh sold 36,574 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were 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 of the company’s stock, valued at approximately $1,324,030.20. This trade represents a 3.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

ChargePoint Stock Performance

Shares of ChargePoint stock traded down $0.11 on Monday, reaching $1.13. 25,534,674 shares of the stock were exchanged, compared to its average volume of 13,939,353. The firm has a market capitalization of $499.85 million, a PE ratio of -1.53 and a beta of 1.69. ChargePoint Holdings, Inc. has a 1-year low of $1.05 and a 1-year high of $2.68. The business has a fifty day moving average price of $1.23 and a two-hundred day moving average price of $1.52. The company has a current ratio of 1.94, a quick ratio of 1.32 and a debt-to-equity ratio of 1.65.

Hedge Funds Weigh In On ChargePoint

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CIBC Asset Management Inc grew 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 worth $26,000 after acquiring an additional 5,770 shares during the period. Financial Advocates Investment Management purchased a new position in shares of ChargePoint in the 3rd quarter valued at about $29,000. Delap Wealth Advisory LLC acquired a new stake in shares of ChargePoint in the second quarter valued at about $31,000. Perennial Investment Advisors LLC boosted its holdings in 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 buying an additional 10,400 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in ChargePoint by 152.0% in the second 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 and hedge funds own 37.77% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Stifel Nicolaus reduced their target price on ChargePoint from $3.00 to $2.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Benchmark reiterated a “buy” rating and issued a $3.00 price objective on shares of ChargePoint in a research note on Wednesday, November 20th. UBS Group lowered their target price on shares of ChargePoint from $1.50 to $1.30 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Capital One Financial upgraded shares of ChargePoint to a “strong-buy” rating in a research report on Tuesday, September 17th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.46.

About ChargePoint

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.