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

ChargePoint Holdings, Inc. (NYSE:CHPT) insider Rebecca Chavez sold 24,494 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $0.65, for a total value of $15,921.10. Following the sale, the insider now owns 1,173,568 shares in the company, valued at approximately $762,819.20. This represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

ChargePoint Stock Up 3.7 %

Shares of NYSE:CHPT opened at $0.69 on Friday. ChargePoint Holdings, Inc. has a 12 month low of $0.56 and a 12 month high of $2.44. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 1.65. The firm has a market cap of $303.45 million, a P/E ratio of -0.93 and a beta of 1.85. The company’s 50-day moving average price is $0.82 and its two-hundred day moving average price is $1.11.

ChargePoint (NYSE:CHPT) last issued its quarterly earnings data on Tuesday, March 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. The business had revenue of $101.89 million during the quarter, compared to analyst estimates of $100.99 million. As a group, research analysts forecast that ChargePoint Holdings, Inc. will post -0.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CHPT has been the topic of a number of recent research reports. The Goldman Sachs Group decreased their price objective on ChargePoint from $1.00 to $0.75 and set a “sell” rating on the stock in a report on Thursday, February 20th. UBS Group set a $1.50 price target on ChargePoint in a research report on Wednesday, March 5th. Stifel Nicolaus cut their price objective on ChargePoint from $2.00 to $1.00 and set a “hold” rating for the company in a report on Monday, March 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a report on Wednesday, March 5th. Finally, Royal Bank of Canada cut their price target 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 equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ChargePoint has a consensus rating of “Hold” and an average price target of $2.03.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Perennial Advisors LLC acquired a new position in ChargePoint during the 4th quarter worth approximately $26,000. 111 Capital bought a new stake in shares of ChargePoint in the fourth quarter worth $26,000. Brevan Howard Capital Management LP bought a new position in ChargePoint in the fourth quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. increased its stake in ChargePoint by 131.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 36,628 shares of the company’s stock valued at $50,000 after buying an additional 20,773 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new position in shares of ChargePoint during the 4th quarter worth about $40,000. 37.77% of the stock is currently 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.