Insider Selling: ChargePoint Holdings, Inc. (NYSE:CHPT) Insider Sells 36,574 Shares of Stock

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

ChargePoint Price Performance

ChargePoint stock opened at $1.16 on Wednesday. The firm has a market capitalization of $513.12 million, a P/E ratio of -1.57 and a beta of 1.69. The business has a 50-day moving average of $1.22 and a 200-day moving average of $1.51. The company has a current ratio of 1.94, a quick ratio of 1.32 and a debt-to-equity ratio of 1.65. ChargePoint Holdings, Inc. has a 1 year low of $1.05 and a 1 year high of $2.68.

Analyst Upgrades and Downgrades

CHPT has been the topic of several recent analyst reports. Royal Bank of Canada reduced their target price on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating on the stock in a research note on Thursday, December 5th. The Goldman Sachs Group decreased their price objective 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. Benchmark reiterated a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a research note on Wednesday, November 20th. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. lowered ChargePoint from an “overweight” rating to an “underweight” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.46.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CHPT. CIBC Asset Management Inc grew its holdings in shares of ChargePoint by 50.7% in the 2nd quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock valued at $26,000 after buying an additional 5,770 shares during the period. Financial Advocates Investment Management acquired a new stake in ChargePoint during the 3rd quarter worth $29,000. Delap Wealth Advisory LLC bought a new position in ChargePoint during the second quarter worth about $31,000. Perennial Investment Advisors LLC grew its stake in ChargePoint by 74.4% in the second quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company’s stock valued at $37,000 after acquiring an additional 10,400 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of ChargePoint by 152.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,462 shares of the company’s stock worth $38,000 after acquiring an additional 15,358 shares in the last quarter. Institutional investors and hedge funds own 37.77% of the company’s stock.

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.