Insider Selling: ChargePoint Holdings, Inc. (NYSE:CHPT) Insider Sells 36,090 Shares of Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) insider Rebecca Chavez sold 36,090 shares of the company’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $0.67, for a total transaction of $24,180.30. Following the completion of the sale, the insider now directly owns 2,637,478 shares in the company, valued at approximately $1,767,110.26. This represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

ChargePoint Trading Up 4.9%

Shares of ChargePoint stock opened at $0.72 on Wednesday. The firm has a market cap of $328.53 million, a PE ratio of -1.19 and a beta of 2.25. ChargePoint Holdings, Inc. has a 1 year low of $0.51 and a 1 year high of $2.44. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.82 and a quick ratio of 1.12. The stock has a fifty day moving average price of $0.68 and a 200-day moving average price of $0.80.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings data on Wednesday, June 4th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The company had revenue of $97.64 million during the quarter, compared to the consensus estimate of $100.43 million. ChargePoint had a negative return on equity of 131.65% and a negative net margin of 65.79%. During the same period in the prior year, the firm posted ($0.11) EPS. Equities research analysts anticipate that ChargePoint Holdings, Inc. will post -0.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CHPT shares. Royal Bank Of Canada restated a “sector perform” rating and issued a $1.00 target price on shares of ChargePoint in a report on Thursday, June 5th. Evercore ISI downgraded ChargePoint from an “outperform” rating to an “in-line” rating and dropped their price objective for the company from $4.00 to $1.00 in a research note on Monday, March 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a research note on Thursday, June 5th. Stifel Nicolaus lowered their target price on ChargePoint from $2.00 to $1.00 and set a “hold” rating for the company in a report on Monday, March 10th. Finally, The Goldman Sachs Group cut their price target on ChargePoint from $0.75 to $0.50 and set a “sell” rating on the stock in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $1.39.

Hedge Funds Weigh In On ChargePoint

Several institutional investors have recently bought and sold shares of CHPT. Perennial Advisors LLC purchased a new stake in ChargePoint in the fourth quarter worth $26,000. 111 Capital purchased a new stake in ChargePoint in the 4th quarter worth about $26,000. Brevan Howard Capital Management LP bought a new stake in ChargePoint in the 4th quarter valued at about $27,000. Focus Partners Wealth purchased a new stake in ChargePoint during the first quarter valued at about $27,000. Finally, Teacher Retirement System of Texas bought a new position in ChargePoint during the first quarter worth about $33,000. Hedge funds and other institutional investors own 37.77% of the company’s stock.

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.