Insider Selling: ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Sells $65,394.00 in Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Henrik Gerdes sold 43,596 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $1.50, for a total value of $65,394.00. Following the sale, the chief accounting officer now owns 438,004 shares in the company, valued at $657,006. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

ChargePoint Stock Up 9.3 %

NYSE CHPT opened at $1.41 on Thursday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.13 and a quick ratio of 1.45. ChargePoint Holdings, Inc. has a 1 year low of $1.21 and a 1 year high of $9.23. The business’s 50-day moving average is $1.62 and its 200 day moving average is $1.88.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CHPT. Oppenheimer restated a “market perform” rating on shares of ChargePoint in a report on Wednesday, March 6th. TD Cowen lowered their price target on ChargePoint from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, June 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 price target (down from $3.50) on shares of ChargePoint in a research report on Wednesday, March 6th. Needham & Company LLC restated a “buy” rating and set a $3.00 target price on shares of ChargePoint in a report on Thursday, June 6th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $1.50 price target (down previously from $2.00) on shares of ChargePoint in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $4.96.

Hedge Funds Weigh In On ChargePoint

Hedge funds have recently added to or reduced their stakes in the company. Mutual Advisors LLC raised its stake in ChargePoint by 9.2% during the 3rd quarter. Mutual Advisors LLC now owns 43,910 shares of the company’s stock valued at $218,000 after buying an additional 3,700 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in ChargePoint by 3.7% in the fourth quarter. Treasurer of the State of North Carolina now owns 136,113 shares of the company’s stock worth $319,000 after purchasing an additional 4,910 shares during the last quarter. Independent Advisor Alliance lifted its stake in ChargePoint by 34.2% in the fourth quarter. Independent Advisor Alliance now owns 19,945 shares of the company’s stock worth $47,000 after purchasing an additional 5,085 shares during the last quarter. O ROURKE & COMPANY Inc increased its position in shares of ChargePoint by 34.2% during the fourth quarter. O ROURKE & COMPANY Inc now owns 24,380 shares of the company’s stock worth $57,000 after acquiring an additional 6,207 shares during the period. Finally, Core Wealth Management Inc. increased its position in shares of ChargePoint by 46.8% during the fourth quarter. Core Wealth Management Inc. now owns 20,015 shares of the company’s stock worth $47,000 after acquiring an additional 6,380 shares during the period. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

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.