Insider Selling: ChargePoint Holdings, Inc. (NYSE:CHPT) Insider Sells 13,361 Shares of Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) insider Jagdeep Ca Singh sold 13,361 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $18,037.35. Following the sale, the insider now directly owns 873,004 shares of the company’s stock, valued at approximately $1,178,555.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

ChargePoint Price Performance

Shares of NYSE:CHPT opened at $1.35 on Friday. The company has a market capitalization of $582.63 million, a P/E ratio of -1.14 and a beta of 1.70. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.32 and a current ratio of 2.03. ChargePoint Holdings, Inc. has a fifty-two week low of $1.21 and a fifty-two week high of $5.23. The company’s 50-day moving average is $1.71 and its 200 day moving average is $1.70.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CHPT. Royal Bank of Canada cut their target price on ChargePoint from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Thursday, September 5th. Benchmark reaffirmed a “buy” rating and issued a $3.00 price objective on shares of ChargePoint in a research note on Thursday, September 5th. Needham & Company LLC decreased their target price on ChargePoint from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Evercore ISI dropped their target price on shares of ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Finally, The Goldman Sachs Group decreased their price target on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.39.

Institutional Investors Weigh In On ChargePoint

Several institutional investors have recently made changes to their positions in the stock. CIBC Asset Management Inc lifted 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 worth $26,000 after acquiring an additional 5,770 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in shares of ChargePoint in the 1st quarter valued at approximately $30,000. PDS Planning Inc bought a new stake in shares of ChargePoint during the 1st quarter valued at $31,000. Delap Wealth Advisory LLC purchased a new position in shares of ChargePoint during the second quarter valued at approximately $31,000. Finally, Bridgecreek Investment Management LLC purchased a new stake in shares of ChargePoint in the fourth quarter worth $33,000. Hedge funds and other institutional investors 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.