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

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

ChargePoint Price Performance

Shares of NYSE:CHPT opened at $0.69 on Friday. The firm has a 50 day moving average of $0.82 and a 200-day moving average of $1.10. ChargePoint Holdings, Inc. has a 12 month low of $0.56 and a 12 month high of $2.44. 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 stock has a market capitalization of $303.45 million, a PE ratio of -0.93 and a beta of 1.85.

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

Institutional Trading of ChargePoint

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in shares of ChargePoint by 4.6% in the third quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company’s stock worth $12,432,000 after acquiring an additional 399,070 shares during the last quarter. Jones Financial Companies Lllp boosted its position in 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 buying an additional 17,075 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of ChargePoint during the third quarter worth $2,570,000. Franklin Resources Inc. acquired a new position in shares of ChargePoint during the third quarter worth $117,000. Finally, State Street Corp lifted its stake in shares of ChargePoint by 1.4% in 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 Analyst Weigh In

CHPT has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their price objective on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a report on Thursday, December 5th. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a research note on Wednesday, March 5th. Stifel Nicolaus lowered their price objective on ChargePoint from $2.00 to $1.00 and set a “hold” rating on the stock in a research report on Monday, March 10th. UBS Group set a $1.50 target price on shares of ChargePoint in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group lowered their price target on shares of ChargePoint from $1.00 to $0.75 and set a “sell” rating on the stock in a research report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.03.

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.