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

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 value of $14,165.55.

ChargePoint Stock Performance

Shares of NYSE:CHPT opened at $1.33 on Wednesday. The stock has a market capitalization of $560.95 million, a PE ratio of -1.12 and a beta of 1.69. The company’s 50-day moving average price is $1.54 and its two-hundred day moving average price is $1.66. 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 one year low of $1.21 and a one year high of $3.65.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CHPT. JPMorgan Chase & Co. cut shares of ChargePoint from an “overweight” rating to an “underweight” rating in a report on Thursday, October 3rd. Benchmark restated a “buy” rating and issued a $3.00 price objective on shares of ChargePoint in a research report on Thursday, September 5th. Royal Bank of Canada reduced their target price on ChargePoint from $3.00 to $2.50 and set a “sector perform” rating on the stock in a report on Thursday, September 5th. Wolfe Research initiated coverage on ChargePoint in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, Evercore ISI cut their price objective on ChargePoint from $6.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $3.34.

Hedge Funds Weigh In On ChargePoint

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new stake in ChargePoint during the second quarter worth $13,007,000. Vanguard Group Inc. raised its holdings in shares of ChargePoint by 26.3% in the 1st quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock valued at $69,708,000 after purchasing an additional 7,645,210 shares during the period. AQR Capital Management LLC acquired a new stake in ChargePoint in the 2nd quarter valued at about $1,310,000. Skandinaviska Enskilda Banken AB publ grew its holdings in 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 purchasing an additional 621,536 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in ChargePoint during the fourth quarter worth approximately $1,257,000. 37.77% of the stock is owned by 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.