ChargePoint Holdings, Inc. (NYSE:CHPT) Insider Sells $15,921.10 in Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) insider Rebecca Chavez sold 24,494 shares of ChargePoint stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $0.65, for a total value of $15,921.10. Following the sale, the insider now directly owns 1,173,568 shares of the company’s stock, valued at $762,819.20. This trade represents a 2.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

ChargePoint Stock Up 3.7 %

Shares of CHPT opened at $0.69 on Monday. The company has a current ratio of 1.94, a quick ratio of 1.24 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 stock’s 50 day moving average is $0.82 and its two-hundred day moving average is $1.10. ChargePoint Holdings, Inc. has a 12 month low of $0.56 and a 12 month high of $2.44.

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

Institutional Trading of ChargePoint

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in ChargePoint by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company’s stock valued at $12,432,000 after purchasing an additional 399,070 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of ChargePoint by 61.1% in the fourth quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company’s stock valued at $48,000 after purchasing an additional 17,075 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in ChargePoint in the 3rd quarter valued at $2,570,000. Franklin Resources Inc. purchased a new position in shares of ChargePoint during the 3rd quarter worth $117,000. Finally, State Street Corp boosted its position in shares of ChargePoint by 1.4% during the 3rd quarter. State Street Corp now owns 10,297,421 shares of the company’s stock valued at $14,107,000 after acquiring an additional 142,767 shares during the last quarter. 37.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. The Goldman Sachs Group dropped their price objective on shares of ChargePoint from $1.00 to $0.75 and set a “sell” rating on the stock in a report on Thursday, February 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a research report on Wednesday, March 5th. Stifel Nicolaus decreased 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. Royal Bank of Canada dropped their target price on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating on the stock in a report on Thursday, December 5th. Finally, UBS Group set a $1.50 price target on ChargePoint in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $2.03.

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.