Stock Traders Purchase Large Volume of ChargePoint Call Options (NYSE:CHPT)

ChargePoint Holdings, Inc. (NYSE:CHPT) was the target of some unusual options trading activity on Monday. Stock traders bought 10,248 call options on the stock. This is an increase of 434% compared to the average volume of 1,918 call options.

Insider Transactions at ChargePoint

In other ChargePoint news, CFO Mansi Khetani sold 3,943 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $6.99, for a total transaction of $27,561.57. Following the completion of the transaction, the chief financial officer owned 130,363 shares in the company, valued at $911,237.37. This trade represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jagdeep Ca Singh sold 4,832 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $6.99, for a total transaction of $33,775.68. Following the completion of the sale, the insider directly owned 124,627 shares in the company, valued at approximately $871,142.73. This trade represents a 3.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,670 shares of company stock valued at $88,534 in the last quarter. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in shares of ChargePoint by 6,429.1% in the 1st quarter. AQR Capital Management LLC now owns 2,679,217 shares of the company’s stock worth $1,553,000 after purchasing an additional 2,638,182 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of ChargePoint by 61.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,790,823 shares of the company’s stock valued at $2,293,000 after buying an additional 1,448,114 shares in the last quarter. Soviero Asset Management LP bought a new stake in ChargePoint in the 2nd quarter worth approximately $633,000. Brevan Howard Capital Management LP purchased a new stake in ChargePoint in the second quarter worth approximately $517,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of ChargePoint during the second quarter worth approximately $518,000. Institutional investors own 37.77% of the company’s stock.

ChargePoint Stock Performance

NYSE:CHPT opened at $5.48 on Wednesday. The stock has a market cap of $129.62 million, a P/E ratio of -0.59 and a beta of 1.40. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 8.38. The business’s 50-day moving average price is $6.24 and its two-hundred day moving average price is $8.42. ChargePoint has a twelve month low of $5.23 and a twelve month high of $17.78.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CHPT shares. Royal Bank Of Canada dropped their target price on ChargePoint from $9.00 to $6.50 and set a “sector perform” rating on the stock in a research report on Thursday, March 5th. UBS Group decreased their price objective on ChargePoint from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Monday. B. Riley Financial dropped their price objective on ChargePoint from $11.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, March 13th. Weiss Ratings restated a “sell (e+)” rating on shares of ChargePoint in a research note on Wednesday, January 21st. Finally, Roth Mkm set a $8.50 target price on ChargePoint and gave the company a “neutral” rating in a report on Friday, December 5th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, ChargePoint presently has a consensus rating of “Reduce” and a consensus target price of $9.89.

About ChargePoint

ChargePoint (NYSE: CHPT) is a leading provider of electric vehicle (EV) charging solutions that designs, develops and markets charging hardware, software and services. The company’s portfolio includes Level 2 AC charging stations for residential, commercial and fleet applications, as well as DC fast charging systems suited for retail, hospitality and public use. ChargePoint’s integrated platform enables site hosts to manage charging infrastructure through cloud-based monitoring, analytics and billing tools, while EV drivers access and control charging sessions via a mobile app or RFID card.

Since its founding in 2007 and headquarters in Campbell, California, ChargePoint has built one of the largest open EV charging networks in the world.