Insider Selling: ChargePoint Holdings, Inc. (NYSE:CHPT) CEO Sells $160,000.00 in Stock

Posted by admin on May 26th, 2023

ChargePoint Holdings, Inc. (NYSE:CHPT – Get Rating) CEO Pasquale Romano sold 20,000 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $8.00, for a total transaction of $160,000.00. Following the completion of the transaction, the chief executive officer now directly owns 4,148,054 shares in the company, valued at $33,184,432. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Pasquale Romano also recently made the following trade(s):

On Monday, May 15th, Pasquale Romano sold 20,000 shares of ChargePoint stock. The stock was sold at an average price of $8.51, for a total transaction of $170,200.00.

ChargePoint Price Performance

CHPT stock opened at $8.32 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.23 and a current ratio of 2.48. The company’s 50 day moving average is $9.00 and its 200 day moving average is $10.38. ChargePoint Holdings, Inc. has a 1-year low of $7.82 and a 1-year high of $19.92.

ChargePoint (NYSE:CHPT – Get Rating) last posted its quarterly earnings data on Thursday, March 2nd. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.03. The company had revenue of $152.83 million for the quarter, compared to analysts’ expectations of $164.31 million. ChargePoint had a negative net margin of 73.59% and a negative return on equity of 82.84%. Analysts expect that ChargePoint Holdings, Inc. will post -0.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Toroso Investments LLC increased its position in shares of ChargePoint by 2.3% in the first quarter. Toroso Investments LLC now owns 90,733 shares of the company’s stock worth $950,000 after purchasing an additional 2,037 shares during the last quarter. Titleist Asset Management LLC bought a new position in ChargePoint during the first quarter valued at approximately $2,837,000. Centaurus Financial Inc. bought a new position in ChargePoint during the first quarter valued at approximately $263,000. Advisory Services Network LLC grew its position in ChargePoint by 442.1% during the first quarter. Advisory Services Network LLC now owns 38,568 shares of the company’s stock valued at $404,000 after acquiring an additional 31,453 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in ChargePoint by 62.4% during the first quarter. Rockefeller Capital Management L.P. now owns 1,600,928 shares of the company’s stock valued at $16,761,000 after acquiring an additional 614,958 shares during the last quarter. 44.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CHPT has been the topic of a number of research analyst reports. B. Riley cut their price target on shares of ChargePoint from $18.00 to $12.00 in a report on Monday, May 8th. JPMorgan Chase & Co. cut their price target on shares of ChargePoint from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, March 3rd. The Goldman Sachs Group assumed coverage on shares of ChargePoint in a report on Tuesday, March 21st. They set a “neutral” rating and a $10.00 price objective on the stock. Janney Montgomery Scott assumed coverage on shares of ChargePoint in a report on Friday, February 24th. They set a “buy” rating on the stock. Finally, Stifel Nicolaus dropped their price objective on shares of ChargePoint from $25.00 to $17.00 in a report on Tuesday, April 25th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.68.

ChargePoint Company Profile

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ChargePoint Holdings, Inc provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. The company was founded in 2007 and is headquartered in Campbell, California.