ChargePoint Holdings, Inc. (NYSE:CHPT – Get Rating)’s share price fell 7.2% during trading on Monday after an insider sold shares in the company. The stock traded as low as $11.63 and last traded at $11.66. 194,366 shares were traded during trading, a decline of 98% from the average session volume of 9,629,471 shares. The stock had previously closed at $12.56.Specifically, CAO Henrik Gerdes sold 31,142 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $16.69, for a total value of $519,759.98. Following the completion of the sale, the chief accounting officer now owns 94,253 shares in the company, valued at $1,573,082.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ChargePoint news, CAO Henrik Gerdes sold 31,142 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $16.69, for a total transaction of $519,759.98. Following the completion of the transaction, the chief accounting officer now directly owns 94,253 shares in the company, valued at approximately $1,573,082.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Sidle sold 33,442 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $18.55, for a total transaction of $620,349.10. Following the completion of the sale, the insider now directly owns 584,561 shares in the company, valued at approximately $10,843,606.55. The disclosure for this sale can be found here. Insiders have sold 177,572 shares of company stock valued at $2,969,102 over the last quarter. Company insiders own 23.64% of the company’s stock.
Analyst Ratings Changes
CHPT has been the topic of several analyst reports. B. Riley decreased their price target on shares of ChargePoint from $20.00 to $18.00 in a research note on Monday. JPMorgan Chase & Co. increased their price target on ChargePoint from $18.00 to $20.00 in a research note on Tuesday, August 23rd. Credit Suisse Group initiated coverage on ChargePoint in a research report on Wednesday, September 7th. They set an “outperform” rating and a $22.00 target price on the stock. Bank of America upped their price objective on shares of ChargePoint from $14.00 to $15.50 in a research note on Monday, August 22nd. Finally, Needham & Company LLC decreased their target price on shares of ChargePoint from $24.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, October 20th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.63.
ChargePoint Trading Down 7.8 %
The business’s 50-day moving average price is $14.90 and its 200 day moving average price is $14.11. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of -11.83 and a beta of 1.65. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.85 and a quick ratio of 2.62.
ChargePoint (NYSE:CHPT – Get Rating) last announced its earnings results on Tuesday, August 30th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.02). The business had revenue of $108.29 million for the quarter, compared to analysts’ expectations of $103.03 million. ChargePoint had a negative return on equity of 61.79% and a negative net margin of 92.93%. The firm’s revenue was up 93.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.24) earnings per share. On average, equities analysts forecast that ChargePoint Holdings, Inc. will post -0.97 earnings per share for the current fiscal year.
Institutional Trading of ChargePoint
Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in ChargePoint by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 19,535,016 shares of the company’s stock valued at $388,355,000 after purchasing an additional 407,505 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of ChargePoint by 25.6% during the third quarter. Baillie Gifford & Co. now owns 5,755,451 shares of the company’s stock worth $84,951,000 after buying an additional 1,173,533 shares during the period. State Street Corp increased its position in ChargePoint by 9.8% in the 1st quarter. State Street Corp now owns 3,347,564 shares of the company’s stock valued at $66,550,000 after acquiring an additional 298,070 shares during the period. Neuberger Berman Group LLC raised its stake in ChargePoint by 91.1% during the 1st quarter. Neuberger Berman Group LLC now owns 2,035,275 shares of the company’s stock valued at $40,461,000 after acquiring an additional 970,212 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in ChargePoint by 97.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,929,300 shares of the company’s stock worth $28,476,000 after acquiring an additional 954,453 shares during the period. 45.88% of the stock is currently owned by institutional investors and hedge funds.
About ChargePoint
ChargePoint Holdings, Inc provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. The company was founded in 2007 and is headquartered in Campbell, California.