ChargePoint Holdings, Inc. (NYSE:CHPT) Insider Rebecca Chavez Sells 36,090 Shares

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) insider Rebecca Chavez sold 36,090 shares of the company's stock in a transaction dated 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 transaction, the insider now directly owns 2,637,478 shares of the company's stock, valued at approximately $1,767,110.26. The trade was a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

ChargePoint Price Performance

CHPT traded up $0.03 on Tuesday, hitting $0.72. 11,500,029 shares of the company's stock were exchanged, compared to its average volume of 17,471,305. ChargePoint Holdings, Inc. has a twelve month low of $0.51 and a twelve month high of $2.44. The stock has a fifty day moving average of $0.68 and a two-hundred day moving average of $0.81. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.82 and a quick ratio of 1.12.

ChargePoint (NYSE:CHPT - Get Free Report) last released its quarterly earnings data on Wednesday, June 4th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The business had revenue of $97.64 million for the quarter, compared to analyst estimates 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 quarter last year, the company earned ($0.11) EPS. On average, analysts expect that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current year.

Institutional Investors Weigh In On ChargePoint

Several institutional investors and hedge funds have recently bought and sold shares of the business. Jones Financial Companies Lllp increased its stake in shares of 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 purchasing an additional 17,075 shares during the period. MetLife Investment Management LLC increased its stake in shares of ChargePoint by 9.8% during the fourth quarter. MetLife Investment Management LLC now owns 251,168 shares of the company's stock valued at $269,000 after acquiring an additional 22,369 shares during the period. Raymond James Financial Inc. acquired a new position in shares of ChargePoint during the fourth quarter valued at approximately $354,000. Invesco Ltd. increased its stake in shares of ChargePoint by 13.1% during the fourth quarter. Invesco Ltd. now owns 5,029,849 shares of the company's stock valued at $5,382,000 after acquiring an additional 583,761 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in shares of ChargePoint during the fourth quarter valued at approximately $268,000. Institutional investors and hedge funds own 37.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group decreased their price objective on shares of ChargePoint from $0.75 to $0.50 and set a "sell" rating for the company in a research report on Thursday, April 10th. UBS Group reduced their price target on shares of ChargePoint from $0.70 to $0.65 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Stifel Nicolaus reduced their price target on shares of ChargePoint from $2.00 to $1.00 and set a "hold" rating on the stock in a research report on Monday, March 10th. Evercore ISI cut shares of ChargePoint from an "outperform" rating to an "in-line" rating and reduced their price target for the stock from $4.00 to $1.00 in a research report on Monday, March 31st. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $1.00 price target on shares of ChargePoint in a research report on Thursday, June 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $1.39.

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.

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