ChargePoint Holdings, Inc. (NYSE:CHPT) CEO Richard Wilmer Sells 27,252 Shares

ChargePoint Holdings, Inc. (NYSE:CHPT) CEO Richard Wilmer sold 27,252 shares of ChargePoint stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $36,790.20. Following the sale, the chief executive officer now owns 2,304,489 shares in the company, valued at $3,111,060.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

ChargePoint Stock Performance

ChargePoint stock opened at $1.37 on Friday. The firm’s 50 day simple moving average is $1.70 and its 200 day simple moving average is $1.70. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 1.24. ChargePoint Holdings, Inc. has a 1-year low of $1.21 and a 1-year high of $5.18. The firm has a market capitalization of $591.26 million, a PE ratio of -1.16 and a beta of 1.70.

Analysts Set New Price Targets

CHPT has been the topic of several research reports. Evercore ISI lowered their price objective on shares of ChargePoint from $6.00 to $4.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. The Goldman Sachs Group dropped their price objective on ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a research note on Friday, September 6th. Needham & Company LLC decreased their target price on ChargePoint from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. B. Riley raised ChargePoint to a “hold” rating in a research report on Tuesday, June 25th. Finally, Wolfe Research started coverage on ChargePoint in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ChargePoint currently has an average rating of “Hold” and an average target price of $3.39.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new position in ChargePoint during the second quarter worth about $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 acquiring an additional 7,645,210 shares in the last quarter. Norges Bank bought a new stake in shares of ChargePoint during the 4th quarter valued at about $9,733,000. AQR Capital Management LLC purchased a new position in shares of ChargePoint during the second quarter worth about $1,310,000. Finally, Skandinaviska Enskilda Banken AB publ increased its position in shares of ChargePoint by 62.0% in 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 last quarter. Institutional investors own 37.77% of the company’s stock.

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.