ChargePoint Holdings, Inc. (NYSE:CHPT) Director Michael Linse Sells 468,142 Shares of Stock

Posted by Defense World Staff on Sep 12th, 2023

ChargePoint Holdings, Inc. (NYSE:CHPT – Get Free Report) Director Michael Linse sold 468,142 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $5.68, for a total transaction of $2,659,046.56. Following the sale, the director now directly owns 2,337,619 shares in the company, valued at $13,277,675.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Michael Linse also recently made the following trade(s):

On Friday, September 8th, Michael Linse sold 1,005,328 shares of ChargePoint stock. The stock was sold at an average price of $5.78, for a total transaction of $5,810,795.84.
On Friday, July 14th, Michael Linse sold 12,200 shares of ChargePoint stock. The stock was sold at an average price of $9.00, for a total transaction of $109,800.00.
On Thursday, June 15th, Michael Linse sold 412,477 shares of ChargePoint stock. The stock was sold at an average price of $9.06, for a total transaction of $3,737,041.62.

ChargePoint Stock Up 0.4 %

CHPT stock opened at $5.75 on Tuesday. The company has a current ratio of 2.37, a quick ratio of 1.97 and a debt-to-equity ratio of 0.90. ChargePoint Holdings, Inc. has a twelve month low of $4.96 and a twelve month high of $19.92. The company’s 50 day moving average is $7.87 and its two-hundred day moving average is $8.72. The stock has a market cap of $2.03 billion, a P/E ratio of -5.42 and a beta of 1.62.

ChargePoint (NYSE:CHPT – Get Free Report) last announced its earnings results on Wednesday, September 6th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.22). ChargePoint had a negative net margin of 65.71% and a negative return on equity of 101.63%. The business had revenue of $150.49 million during the quarter, compared to analyst estimates of $153.25 million. During the same period in the previous year, the firm earned ($0.27) earnings per share. The business’s revenue was up 39.0% compared to the same quarter last year. Research analysts expect that ChargePoint Holdings, Inc. will post -0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ChargePoint

Several institutional investors have recently made changes to their positions in CHPT. Bank of New York Mellon Corp boosted its position in shares of ChargePoint by 8.1% during the 1st quarter. Bank of New York Mellon Corp now owns 652,385 shares of the company’s stock worth $12,969,000 after purchasing an additional 48,903 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of ChargePoint by 46.4% in the 1st quarter. HighTower Advisors LLC now owns 30,579 shares of the company’s stock worth $610,000 after buying an additional 9,689 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of ChargePoint by 152.8% in the 1st quarter. Private Advisor Group LLC now owns 35,608 shares of the company’s stock worth $708,000 after buying an additional 21,524 shares in the last quarter. D.A. Davidson & CO. purchased a new stake in shares of ChargePoint in the 1st quarter worth about $213,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of ChargePoint in the 1st quarter worth about $91,000. 45.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CHPT has been the subject of a number of recent research reports. Needham & Company LLC reduced their target price on shares of ChargePoint from $13.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, September 7th. JPMorgan Chase & Co. cut their price objective on shares of ChargePoint from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Wednesday, August 30th. DA Davidson cut their price objective on shares of ChargePoint from $18.00 to $15.00 in a research report on Monday, June 5th. B. Riley cut their price objective on shares of ChargePoint from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, July 20th. Finally, Evercore ISI cut their price objective on shares of ChargePoint from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, ChargePoint currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.92.

Read Our Latest Research Report on ChargePoint

About ChargePoint

(Get Free Report)

ChargePoint Holdings, Inc, together with its subsidiaries, 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. ChargePoint Holdings, Inc was founded in 2007 and is headquartered in Campbell, California.