Insider Selling: ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Sells 28,536 Shares of Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Henrik Gerdes sold 28,536 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total value of $32,531.04. Following the completion of the transaction, the chief accounting officer now owns 362,060 shares of the company’s stock, valued at $412,748.40. The trade was 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 this link.

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 Price Performance

Shares of CHPT stock opened at $1.16 on Wednesday. The firm has a fifty day simple moving average of $1.22 and a 200-day simple moving average of $1.51. The company has a market capitalization of $513.12 million, a PE ratio of -1.57 and a beta of 1.69. ChargePoint Holdings, Inc. has a twelve month low of $1.05 and a twelve month high of $2.68. The company has a current ratio of 1.94, a quick ratio of 1.32 and a debt-to-equity ratio of 1.65.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CHPT shares. Capital One Financial upgraded shares of ChargePoint to a “strong-buy” rating in a report on Tuesday, September 17th. UBS Group cut their target price on ChargePoint from $1.50 to $1.30 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Evercore ISI lowered their price target on ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company 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 analysts have rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ChargePoint currently has an average rating of “Hold” and a consensus target price of $2.46.

Hedge Funds Weigh In On ChargePoint

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new position in shares of ChargePoint in the second quarter worth about $13,007,000. Erste Asset Management GmbH acquired a new position in shares of ChargePoint in the 3rd quarter valued at approximately $2,570,000. AQR Capital Management LLC purchased a new position in shares of ChargePoint during the 2nd quarter valued at approximately $1,310,000. Skandinaviska Enskilda Banken AB publ grew its position in shares of ChargePoint by 62.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,623,836 shares of the company’s stock worth $2,452,000 after buying an additional 621,536 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of ChargePoint by 60.1% in the second quarter. Bank of New York Mellon Corp now owns 1,298,289 shares of the company’s stock worth $1,960,000 after buying an additional 487,262 shares during the last quarter. 37.77% of the stock is owned by hedge funds and other institutional investors.

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.