ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Sells $14,165.55 in Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Henrik Gerdes sold 10,493 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $14,165.55. Following the completion of the transaction, the chief accounting officer now directly owns 416,884 shares of the company’s stock, valued at approximately $562,793.40. The sale was disclosed in a filing with the SEC, which is accessible through this link.

ChargePoint Trading Up 0.7 %

NYSE:CHPT opened at $1.37 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.32. The business has a fifty day moving average price of $1.70 and a 200-day moving average price of $1.70. The firm has a market capitalization of $591.26 million, a price-to-earnings ratio of -1.16 and a beta of 1.70. ChargePoint Holdings, Inc. has a one year low of $1.21 and a one year high of $5.18.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in ChargePoint by 30.9% during the 4th quarter. Victory Capital Management Inc. now owns 38,112 shares of the company’s stock worth $89,000 after acquiring an additional 8,992 shares during the period. Norges Bank purchased a new stake in shares of ChargePoint in the fourth quarter worth $9,733,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of ChargePoint during the 4th quarter valued at $42,000. Advisory Services Network LLC lifted its position in shares of ChargePoint by 1,171.1% in the fourth quarter. Advisory Services Network LLC now owns 145,991 shares of the company’s stock valued at $342,000 after acquiring an additional 134,506 shares in the last quarter. Finally, IPG Investment Advisors LLC purchased a new position in ChargePoint in the 4th quarter worth approximately $166,000. 37.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CHPT. Benchmark reiterated a “buy” rating and issued a $3.00 price target on shares of ChargePoint in a research note on Thursday, September 5th. Wolfe Research started coverage on ChargePoint in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. TD Cowen lowered shares of ChargePoint from a “buy” rating to a “hold” rating and reduced their price objective for the company from $3.00 to $2.00 in a research note on Thursday, September 5th. The Goldman Sachs Group dropped their target price on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a research note on Friday, September 6th. Finally, Royal Bank of Canada lowered their price objective on ChargePoint from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, five 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 has an average rating of “Hold” and an average price target of $3.39.

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.