ChargePoint Holdings, Inc. (NYSE:CHPT) Insider Sells $23,496.90 in Stock

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) insider Jagdeep Ca Singh sold 35,070 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $0.67, for a total value of $23,496.90. Following the transaction, the insider now directly owns 2,613,290 shares in the company, valued at approximately $1,750,904.30. This represents a 1.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

ChargePoint Price Performance

Shares of CHPT traded up $0.03 during trading hours on Tuesday, reaching $0.72. The stock had a trading volume of 11,500,029 shares, compared to its average volume of 17,471,305. ChargePoint Holdings, Inc. has a 12 month low of $0.51 and a 12 month high of $2.44. The company's 50-day moving average is $0.68 and its two-hundred day moving average is $0.81. The company has a quick ratio of 1.12, a current ratio of 1.82 and a debt-to-equity ratio of 2.60.

ChargePoint (NYSE:CHPT - Get Free Report) last released its earnings results on Wednesday, June 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). ChargePoint had a negative net margin of 65.79% and a negative return on equity of 131.65%. The firm had revenue of $97.64 million during the quarter, compared to analyst estimates of $100.43 million. During the same quarter in the previous year, the firm earned ($0.11) EPS. As a group, analysts forecast that ChargePoint Holdings, Inc. will post -0.57 EPS for the current fiscal year.

Institutional Trading of ChargePoint

Several large investors have recently made changes to their positions in CHPT. Jones Financial Companies Lllp lifted its position in ChargePoint by 61.1% in the 4th quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company's stock valued at $48,000 after acquiring an additional 17,075 shares in the last quarter. MetLife Investment Management LLC lifted its position in ChargePoint by 9.8% in the 4th 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 in the last quarter. Raymond James Financial Inc. bought a new position in ChargePoint in the 4th quarter valued at about $354,000. Invesco Ltd. lifted its position in ChargePoint by 13.1% in the 4th 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 in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in ChargePoint in the 4th quarter valued at about $268,000. 37.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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