ChargePoint (NYSE:CHPT) CEO Richard Wilmer Buys 46,847 Shares

Key Points

• ChargePoint CEO Richard Wilmer purchased 46,847 shares on April 13 at an average price of $5.34 (≈$250,163), increasing his holdings 10.09% to 511,224 shares valued at about $2.73M, according to an SEC filing.
• The stock traded at $5.43 with a 52-week range of $4.44–$17.78, a market cap of roughly $128.5M, a negative P/E, and 50- and 200-day moving averages of $5.63 and $7.67 respectively.
• Wall Street sentiment is tepid—MarketBeat shows an average "Reduce" rating and an $8.63 consensus target after multiple price-target cuts—while institutional investors hold about 37.77% of the shares.

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) CEO Richard Wilmer purchased 46,847 shares of the stock in a transaction on Monday, April 13th. The shares were purchased at an average cost of $5.34 per share, with a total value of $250,162.98. Following the transaction, the chief executive officer owned 511,224 shares in the company, valued at $2,729,936.16. This trade represents a 10.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

ChargePoint Stock Performance

CHPT traded up $0.34 on Monday, reaching $5.43. 488,527 shares of the stock were exchanged, compared to its average volume of 423,903. The company's 50-day moving average price is $5.63 and its 200 day moving average price is $7.67. ChargePoint Holdings, Inc. has a fifty-two week low of $4.44 and a fifty-two week high of $17.78. The company has a debt-to-equity ratio of 10.73, a current ratio of 1.20 and a quick ratio of 0.64. The firm has a market capitalization of $128.49 million, a PE ratio of -0.58 and a beta of 1.48.

Hedge Funds Weigh In On ChargePoint

Institutional investors have recently modified their holdings of the stock. Focus Partners Wealth purchased a new position in shares of ChargePoint during the 1st quarter valued at about $27,000. Rothschild Investment LLC raised its stake in shares of ChargePoint by 233.3% during the 4th quarter. Rothschild Investment LLC now owns 5,000 shares of the company's stock valued at $33,000 after buying an additional 3,500 shares during the last quarter. Corient Private Wealth LLC increased its stake in shares of ChargePoint by 57.1% in the 2nd quarter. Corient Private Wealth LLC now owns 67,345 shares of the company's stock valued at $47,000 after purchasing an additional 24,470 shares in the last quarter. Pilgrim Partners Asia Pte Ltd increased its stake in shares of ChargePoint by 56.4% in the 4th quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company's stock valued at $57,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of ChargePoint in the 2nd quarter valued at about $66,000. Hedge funds and other institutional investors own 37.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. B. Riley Financial lowered their price target on ChargePoint from $11.00 to $6.00 and set a "neutral" rating for the company in a research report on Friday, March 13th. Weiss Ratings reiterated a "sell (e+)" rating on shares of ChargePoint in a research note on Wednesday, January 21st. UBS Group reduced their price objective on ChargePoint from $9.00 to $7.00 and set a "neutral" rating for the company in a research note on Monday, March 16th. JPMorgan Chase & Co. reduced their price objective on ChargePoint from $8.00 to $5.00 and set an "underweight" rating for the company in a research note on Thursday, March 5th. Finally, Royal Bank Of Canada reduced their price objective on ChargePoint from $9.00 to $6.50 and set a "sector perform" rating for the company in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $8.63.

ChargePoint Company Profile

ChargePoint NYSE: CHPT is a leading provider of electric vehicle (EV) charging solutions that designs, develops and markets charging hardware, software and services. The company's portfolio includes Level 2 AC charging stations for residential, commercial and fleet applications, as well as DC fast charging systems suited for retail, hospitality and public use. ChargePoint's integrated platform enables site hosts to manage charging infrastructure through cloud-based monitoring, analytics and billing tools, while EV drivers access and control charging sessions via a mobile app or RFID card.

Since its founding in 2007 and headquarters in Campbell, California, ChargePoint has built one of the largest open EV charging networks in the world.

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