ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Henrik Gerdes Sells 28,536 Shares

ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Henrik Gerdes sold 28,536 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $1.14, for a total transaction of $32,531.04. Following the completion of the sale, the chief accounting officer now owns 362,060 shares of the company’s stock, valued at $412,748.40. The trade was a 7.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Henrik Gerdes also recently made the following trade(s):

• On Friday, October 11th, Henrik Gerdes sold 26,288 shares of ChargePoint stock. The stock was sold at an average price of $1.32, for a total transaction of $34,700.16.

ChargePoint Trading Down 8.9 %

NYSE:CHPT traded down $0.11 during trading hours on Monday, hitting $1.13. The stock had a trading volume of 25,534,674 shares, compared to its average volume of 13,939,353. The business’s 50 day moving average is $1.23 and its 200-day moving average is $1.52. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.32 and a current ratio of 1.94. The company has a market cap of $499.85 million, a price-to-earnings ratio of -1.53 and a beta of 1.69. ChargePoint Holdings, Inc. has a one year low of $1.05 and a one year high of $2.68.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CHPT. TD Cowen downgraded ChargePoint from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $3.00 to $2.00 in a report on Thursday, September 5th. Capital One Financial raised ChargePoint to a “strong-buy” rating in a research note on Tuesday, September 17th. Royal Bank of Canada lowered their price objective on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a research report on Thursday, December 5th. Benchmark restated a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus reduced their target price on shares of ChargePoint from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ChargePoint presently has a consensus rating of “Hold” and a consensus target price of $2.46.

Institutional Trading of ChargePoint

A number of large investors have recently made changes to their positions in the company. SG Americas Securities LLC grew its stake in ChargePoint by 19.2% in the second quarter. SG Americas Securities LLC now owns 130,247 shares of the company’s stock valued at $197,000 after acquiring an additional 21,007 shares during the period. Bank of New York Mellon Corp grew its position in shares of ChargePoint by 60.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,298,289 shares of the company’s stock valued at $1,960,000 after purchasing an additional 487,262 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in ChargePoint by 17.7% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 598,106 shares of the company’s stock worth $903,000 after purchasing an additional 89,817 shares in the last quarter. Principal Financial Group Inc. raised its holdings in ChargePoint by 32.9% during the 2nd quarter. Principal Financial Group Inc. now owns 46,042 shares of the company’s stock worth $70,000 after buying an additional 11,389 shares during the period. Finally, Commonwealth Equity Services LLC lifted its stake in ChargePoint by 39.6% in the second quarter. Commonwealth Equity Services LLC now owns 370,562 shares of the company’s stock valued at $560,000 after buying an additional 105,155 shares in the last quarter. Institutional investors own 37.77% of the company’s stock.

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.