Richard Wilmer Sells 27,252 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CEO Richard Wilmer sold 27,252 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $36,790.20. Following the completion of the transaction, the chief executive officer now directly owns 2,304,489 shares in the company, valued at $3,111,060.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

ChargePoint Stock Performance

Shares of CHPT opened at $1.35 on Friday. The stock’s 50-day moving average price is $1.71 and its 200 day moving average price is $1.70. The company has a quick ratio of 1.32, a current ratio of 2.03 and a debt-to-equity ratio of 1.24. ChargePoint Holdings, Inc. has a 12-month low of $1.21 and a 12-month high of $5.23. The firm has a market capitalization of $582.63 million, a price-to-earnings ratio of -1.14 and a beta of 1.70.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CHPT. Treasurer of the State of North Carolina raised its stake in shares of ChargePoint by 3.7% in the 4th quarter. Treasurer of the State of North Carolina now owns 136,113 shares of the company’s stock valued at $319,000 after buying an additional 4,910 shares in the last quarter. CIBC Asset Management Inc increased its stake in ChargePoint by 50.7% in the second quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock valued at $26,000 after acquiring an additional 5,770 shares during the period. Hsbc Holdings PLC raised its position in ChargePoint by 41.4% in the second quarter. Hsbc Holdings PLC now owns 26,397 shares of the company’s stock worth $39,000 after purchasing an additional 7,723 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in ChargePoint by 6.1% during the first quarter. Public Employees Retirement System of Ohio now owns 136,355 shares of the company’s stock worth $259,000 after purchasing an additional 7,838 shares during the period. Finally, Capital Square LLC boosted its holdings in ChargePoint by 47.4% during the first quarter. Capital Square LLC now owns 24,880 shares of the company’s stock valued at $47,000 after purchasing an additional 8,000 shares in the last quarter. 37.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada cut their price target on ChargePoint from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Thursday, September 5th. TD Cowen lowered shares of ChargePoint from a “buy” rating to a “hold” rating and dropped their price target for the stock from $3.00 to $2.00 in a research note on Thursday, September 5th. The Goldman Sachs Group reduced their price objective on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a research note on Friday, September 6th. B. Riley raised shares of ChargePoint to a “hold” rating in a research report on Tuesday, June 25th. Finally, Benchmark reaffirmed a “buy” rating and issued a $3.00 price target on shares of ChargePoint in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ChargePoint has a consensus rating of “Hold” and an average target price of $3.39.

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.