ChargePoint (NYSE:CHPT) Insider Sells $26,631.01 in Stock

Key Points

• ChargePoint (NYSE:CHPT) insider John David Vice sold 2,363 shares for a total of $26,631.01, reducing their ownership by 1.88%.
• ChargePoint's stock price recently increased by 2.0% to reach $11.10, with a market capitalization of approximately $259.19 million.
• Analysts have provided mixed ratings for ChargePoint, with target prices ranging from $8.00 to $30.00, reflecting varying opinions on the stock's potential.

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) insider John David Vice sold 2,363 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $11.27, for a total transaction of $26,631.01. Following the completion of the sale, the insider directly owned 123,615 shares in the company, valued at approximately $1,393,141.05. This represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

ChargePoint Stock Up 2.0%

Shares of NYSE:CHPT traded up $0.22 during trading hours on Wednesday, reaching $11.10. The stock had a trading volume of 380,101 shares, compared to its average volume of 506,440. The company has a debt-to-equity ratio of 4.38, a quick ratio of 1.00 and a current ratio of 1.67. The firm's 50 day moving average is $11.03 and its 200-day moving average is $12.57. The stock has a market capitalization of $259.19 million, a price-to-earnings ratio of -0.95 and a beta of 2.29. ChargePoint Holdings, Inc. has a 1 year low of $8.55 and a 1 year high of $30.00.

Wall Street Analyst Weigh In

A number of research firms recently commented on CHPT. TD Cowen dropped their target price on shares of ChargePoint from $30.00 to $11.00 and set a "hold" rating on the stock in a research report on Thursday, September 4th. Roth Capital set a $11.00 price target on shares of ChargePoint and gave the stock a "neutral" rating in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. decreased their price target on shares of ChargePoint from $9.00 to $8.00 and set an "underweight" rating for the company in a research note on Thursday, September 4th. Needham & Company LLC restated a "hold" rating on shares of ChargePoint in a research note on Thursday, September 4th. Finally, Benchmark lowered their target price on shares of ChargePoint from $40.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, ChargePoint has an average rating of "Reduce" and an average price target of $13.56.

Hedge Funds Weigh In On ChargePoint

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHPT. 111 Capital acquired a new position in ChargePoint during the fourth quarter worth about $26,000. International Assets Investment Management LLC purchased a new position in shares of ChargePoint in the second quarter valued at $27,000. Focus Partners Wealth purchased a new position in shares of ChargePoint in the first quarter valued at $27,000. Trueblood Wealth Management LLC boosted its stake in ChargePoint by 100.0% during the 2nd quarter. Trueblood Wealth Management LLC now owns 40,000 shares of the company's stock valued at $28,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Ethic Inc. bought a new position in ChargePoint during the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 37.77% of the company's stock.

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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