Henrik Gerdes Sells 10,493 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Henrik Gerdes sold 10,493 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $1.35, for a total transaction of $14,165.55. Following the sale, the chief accounting officer now directly owns 416,884 shares of the company’s stock, valued at approximately $562,793.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

ChargePoint Price Performance

Shares of NYSE:CHPT opened at $1.35 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.32 and a current ratio of 2.03. The firm has a market cap of $582.63 million, a price-to-earnings ratio of -1.14 and a beta of 1.70. The firm has a fifty day moving average price of $1.71 and a 200 day moving average price of $1.70. ChargePoint Holdings, Inc. has a fifty-two week low of $1.21 and a fifty-two week high of $5.23.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CHPT. Point72 Asset Management L.P. purchased a new stake in shares of ChargePoint in the second quarter worth about $13,007,000. Vanguard Group Inc. increased its stake in ChargePoint by 26.3% in the 1st quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock worth $69,708,000 after acquiring an additional 7,645,210 shares during the last quarter. Norges Bank purchased a new stake in shares of ChargePoint during the 4th quarter worth approximately $9,733,000. AQR Capital Management LLC purchased a new position in shares of ChargePoint in the second quarter valued at $1,310,000. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in shares of ChargePoint by 62.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,623,836 shares of the company’s stock valued at $2,452,000 after purchasing an additional 621,536 shares in the last quarter. Hedge funds and other institutional investors own 37.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CHPT. Wolfe Research initiated coverage on shares of ChargePoint in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Royal Bank of Canada reduced their price objective 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. Benchmark reiterated a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research report on Thursday, September 5th. Evercore ISI reduced their price target on ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Finally, The Goldman Sachs Group decreased their price objective on ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ChargePoint currently has an average rating of “Hold” and a consensus price target of $3.39.

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.