Jagdeep Ca Singh Sells 36,574 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) insider Jagdeep Ca Singh sold 36,574 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total value of $41,694.36. Following the completion of the transaction, the insider now owns 1,161,430 shares of the company’s stock, valued at approximately $1,324,030.20. This represents a 3.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ChargePoint Trading Down 8.9 %

NYSE:CHPT traded down $0.11 during mid-day trading on Monday, reaching $1.13. The company’s stock had a trading volume of 25,534,674 shares, compared to its average volume of 13,939,353. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.32. The stock has a market cap of $499.85 million, a P/E ratio of -1.53 and a beta of 1.69. The company’s fifty day simple moving average is $1.23 and its two-hundred day simple moving average is $1.52. ChargePoint Holdings, Inc. has a twelve month low of $1.05 and a twelve month high of $2.68.

Institutional Investors Weigh In On ChargePoint

Hedge funds have recently modified their holdings of the stock. CIBC Asset Management Inc increased its position in ChargePoint by 50.7% during the second quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock worth $26,000 after purchasing an additional 5,770 shares during the last quarter. Delap Wealth Advisory LLC purchased a new stake in shares of ChargePoint during the 2nd quarter valued at $31,000. Financial Advocates Investment Management acquired a new stake in shares of ChargePoint during the 3rd quarter worth $29,000. Perennial Investment Advisors LLC raised its position in shares of ChargePoint by 74.4% in the 2nd quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company’s stock worth $37,000 after buying an additional 10,400 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in ChargePoint by 152.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,462 shares of the company’s stock valued at $38,000 after acquiring an additional 15,358 shares during the last quarter. 37.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CHPT has been the subject of several recent research reports. Capital One Financial upgraded shares of ChargePoint to a “strong-buy” rating in a report on Tuesday, September 17th. TD Cowen downgraded ChargePoint from a “buy” rating to a “hold” rating and cut their price objective for the stock from $3.00 to $2.00 in a research report on Thursday, September 5th. Wolfe Research began coverage on ChargePoint in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. downgraded ChargePoint from an “overweight” rating to an “underweight” rating in a research report on Thursday, October 3rd. Finally, Stifel Nicolaus reduced their price objective on ChargePoint from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.46.

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.