ChargePoint Holdings, Inc. (NYSE:CHPT) Insider Sells $41,694.36 in Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) insider Jagdeep Ca Singh sold 36,574 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $1.14, for a total value of $41,694.36. Following the transaction, the insider now directly owns 1,161,430 shares in the company, valued at approximately $1,324,030.20. The trade was a 3.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

ChargePoint Price Performance

Shares of CHPT opened at $1.16 on Thursday. The firm has a market capitalization of $513.12 million, a PE ratio of -1.57 and a beta of 1.69. The stock’s 50 day moving average is $1.21 and its two-hundred day moving average is $1.50. 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.

Institutional Trading of ChargePoint

A number of institutional investors have recently modified their holdings of CHPT. Point72 Asset Management L.P. acquired a new stake in ChargePoint in the second quarter valued at $13,007,000. Erste Asset Management GmbH purchased a new position in shares of ChargePoint in the third quarter valued at $2,570,000. AQR Capital Management LLC acquired a new position in shares of ChargePoint during the 2nd quarter worth $1,310,000. Skandinaviska Enskilda Banken AB publ boosted its position in shares of ChargePoint by 62.0% in the 2nd 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 grew its stake in ChargePoint by 60.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,298,289 shares of the company’s stock valued at $1,960,000 after acquiring an additional 487,262 shares during the last quarter. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. The Goldman Sachs Group dropped their price target on ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a research note on Friday, September 6th. Benchmark restated a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research report on Wednesday, November 20th. UBS Group reduced their price target on shares of ChargePoint from $1.50 to $1.30 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. Capital One Financial raised shares of ChargePoint to a “strong-buy” rating in a research report on Tuesday, September 17th. Finally, Royal Bank of Canada reduced their target price on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a report on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.