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

ChargePoint Holdings, Inc. (NYSE:CHPT) insider Rebecca Chavez sold 24,494 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $0.65, for a total value of $15,921.10. Following the completion of the sale, the insider now owns 1,173,568 shares in the company, valued at approximately $762,819.20. This trade represents a 2.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ChargePoint Stock Performance

NYSE:CHPT opened at $0.69 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.24 and a current ratio of 1.94. ChargePoint Holdings, Inc. has a fifty-two week low of $0.56 and a fifty-two week high of $2.44. The company has a market cap of $303.45 million, a price-to-earnings ratio of -0.93 and a beta of 1.85. The stock has a fifty day moving average price of $0.82 and a 200-day moving average price of $1.11.

ChargePoint (NYSE:CHPT) last issued its quarterly earnings results 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 firm had revenue of $101.89 million for the quarter, compared to the consensus estimate of $100.99 million. As a group, equities analysts anticipate that ChargePoint Holdings, Inc. will post -0.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CHPT. 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 research report on Thursday, February 20th. Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a report on Wednesday, March 5th. 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. UBS Group set a $1.50 target price on ChargePoint in a research report on Wednesday, March 5th. Finally, Stifel Nicolaus dropped their price target on ChargePoint from $2.00 to $1.00 and set a “hold” rating for the company in a report on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.03.

Institutional Trading of ChargePoint

Several institutional investors and hedge funds have recently modified their holdings of the business. 111 Capital bought a new stake in shares of ChargePoint during the fourth quarter worth $26,000. Perennial Advisors LLC bought a new stake in ChargePoint during the 4th quarter worth $26,000. Tidal Investments LLC increased its holdings in ChargePoint by 43.6% in the 4th quarter. Tidal Investments LLC now owns 466,751 shares of the company’s stock worth $499,000 after purchasing an additional 141,617 shares in the last quarter. Toronto Dominion Bank bought a new position in ChargePoint in the fourth quarter valued at about $8,746,000. Finally, ProShare Advisors LLC boosted its stake in shares of ChargePoint by 51.9% during the fourth quarter. ProShare Advisors LLC now owns 111,447 shares of the company’s stock valued at $119,000 after purchasing an additional 38,094 shares in the last quarter. 37.77% of the stock is currently owned by institutional investors.

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.