ChargePoint Holdings, Inc. (NYSE:CHPT) Insider Jagdeep Ca Singh Sells 35,070 Shares

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

ChargePoint Trading Up 0.7%

Shares of NYSE CHPT traded up $0.01 during mid-day trading on Friday, hitting $0.76. The company's stock had a trading volume of 12,364,376 shares, compared to its average volume of 20,843,039. The company's fifty day simple moving average is $0.69 and its 200-day simple moving average is $0.80. ChargePoint Holdings, Inc. has a one year low of $0.51 and a one year high of $2.44. The stock has a market cap of $346.86 million, a price-to-earnings ratio of -1.25 and a beta of 2.25. 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 posted its earnings results on Wednesday, June 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). The business had revenue of $97.64 million for 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 previous year, the company posted ($0.11) earnings per share. On average, sell-side analysts anticipate that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CHPT. Geode Capital Management LLC increased its stake in shares of ChargePoint by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 9,276,632 shares of the company's stock worth $9,929,000 after purchasing an additional 204,464 shares during the period. Toronto Dominion Bank acquired a new stake in shares of ChargePoint during the 4th quarter worth approximately $8,746,000. Invesco Ltd. boosted its holdings in shares of 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 purchasing an additional 583,761 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of ChargePoint by 61.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,790,823 shares of the company's stock valued at $2,293,000 after purchasing an additional 1,448,114 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of ChargePoint by 2.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,423,298 shares of the company's stock worth $2,071,000 after buying an additional 86,753 shares in the last quarter. 37.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHPT has been the topic of a number of recent research reports. 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. Needham & Company LLC reiterated a "hold" rating on shares of ChargePoint in a research note on Thursday, June 5th. UBS Group lowered their target price on shares of ChargePoint from $0.70 to $0.65 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. The Goldman Sachs Group lowered their price target on ChargePoint from $0.75 to $0.50 and set a "sell" rating on the stock in a research note on Thursday, April 10th. Finally, Stifel Nicolaus cut their price objective on ChargePoint from $2.00 to $1.00 and set a "hold" rating for the company in a report on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock 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.