Insider Selling: ChargePoint Holdings, Inc. (NYSE:CHPT) Insider Sells 24,494 Shares of Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) insider Rebecca Chavez sold 24,494 shares of the firm’s stock in a transaction that occurred 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

ChargePoint Price Performance

Shares of CHPT traded up $0.02 during mid-day trading on Friday, hitting $0.69. The company’s stock had a trading volume of 42,138,845 shares, compared to its average volume of 16,797,946. The firm has a 50-day simple moving average of $0.82 and a 200 day simple moving average of $1.11. ChargePoint Holdings, Inc. has a 1-year low of $0.56 and a 1-year high of $2.44. The firm has a market capitalization of $303.45 million, a P/E 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 issued its earnings results on Tuesday, March 4th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $101.89 million for the quarter, compared to analysts’ expectations of $100.99 million. ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. Analysts predict that ChargePoint Holdings, Inc. will post -0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP purchased a new stake in shares of ChargePoint during the 3rd quarter worth approximately $252,000. Intech Investment Management LLC purchased a new stake in ChargePoint during the third quarter worth $170,000. Charles Schwab Investment Management Inc. increased its position in shares of ChargePoint by 7.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,251,029 shares of the company’s stock valued at $4,454,000 after buying an additional 219,426 shares in the last quarter. FMR LLC raised its position in ChargePoint by 23.4% during the third quarter. FMR LLC now owns 150,705 shares of the company’s stock worth $206,000 after acquiring an additional 28,602 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in ChargePoint by 8.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 489,482 shares of the company’s stock valued at $671,000 after buying an additional 39,455 shares in the last quarter. 37.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CHPT shares. Stifel Nicolaus decreased their price target on shares of ChargePoint from $2.00 to $1.00 and set a “hold” rating for the company in a research note on Monday, March 10th. The Goldman Sachs Group lowered their price target on ChargePoint from $1.00 to $0.75 and set a “sell” rating on the stock in a report on Thursday, February 20th. Royal Bank of Canada reduced their price objective on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a research note on Thursday, December 5th. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a research note on Wednesday, March 5th. Finally, UBS Group set a $1.50 price target on ChargePoint in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.