Insider Selling: ChargePoint (NYSE:CHPT) Insider Sells 1,703 Shares of Stock

Key Points

• ChargePoint insider Jagdeep Ca Singh sold 1,703 shares at an average price of $11.27, totaling approximately $19,192.81, and maintained an ownership of 129,459 shares post-sale.
• ChargePoint's stock has a market cap of $259.19 million, a 52-week low of $8.55, and a high of $30.00, currently trading at $11.10.
• Analysts have mixed ratings for ChargePoint, with price targets ranging from $10.00 to $20.00, and a consensus recommendation of "Reduce".

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) insider Jagdeep Ca Singh sold 1,703 shares of ChargePoint 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 $19,192.81. Following the completion of the sale, the insider owned 129,459 shares of the company's stock, valued at approximately $1,459,002.93. The trade was a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

ChargePoint Trading Up 2.0%

Shares of ChargePoint stock traded up $0.22 during trading on Wednesday, hitting $11.10. The company's stock had a trading volume of 380,101 shares, compared to its average volume of 506,440. The stock has a market cap of $259.19 million, a price-to-earnings ratio of -0.95 and a beta of 2.29. The company has a debt-to-equity ratio of 4.38, a current ratio of 1.67 and a quick ratio of 1.00. ChargePoint Holdings, Inc. has a 52 week low of $8.55 and a 52 week high of $30.00. The stock has a 50-day moving average price of $11.03 and a two-hundred day moving average price of $12.57.

Institutional Investors Weigh In On ChargePoint

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. 111 Capital acquired a new position in shares of ChargePoint during the 4th quarter valued at about $26,000. International Assets Investment Management LLC purchased a new position in ChargePoint in the second quarter worth $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 increased its position in ChargePoint by 100.0% during the 2nd quarter. Trueblood Wealth Management LLC now owns 40,000 shares of the company's stock worth $28,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Ethic Inc. acquired a new stake in ChargePoint in the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 37.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CHPT shares. Royal Bank Of Canada reduced their price objective on shares of ChargePoint from $20.00 to $10.00 and set a "sector perform" rating for the company in a research report on Thursday, September 4th. Needham & Company LLC reissued a "hold" rating on shares of ChargePoint in a report on Thursday, September 4th. Benchmark cut their target price on shares of ChargePoint from $40.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, September 5th. UBS Group set a $12.00 price target on shares of ChargePoint and gave the company a "neutral" rating in a research report on Friday, September 19th. Finally, Roth Capital set a $11.00 price objective on shares of ChargePoint and gave the company a "neutral" rating in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $13.56.

ChargePoint Company Profile

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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