Michael Linse Sells 1,337,619 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) Director Michael Linse sold 1,337,619 shares of ChargePoint stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $5.74, for a total value of $7,677,933.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, September 11th, Michael Linse sold 468,142 shares of ChargePoint stock. The shares were sold at an average price of $5.68, for a total value of $2,659,046.56.
• On Friday, September 8th, Michael Linse sold 1,005,328 shares of ChargePoint stock. The shares were sold at an average price of $5.78, for a total value of $5,810,795.84.
• On Friday, July 14th, Michael Linse sold 12,200 shares of ChargePoint stock. The shares were sold at an average price of $9.00, for a total value of $109,800.00.

ChargePoint Price Performance

NYSE CHPT opened at $6.05 on Friday. ChargePoint Holdings, Inc. has a twelve month low of $4.96 and a twelve month high of $19.92. The company has a current ratio of 2.03, a quick ratio of 1.97 and a debt-to-equity ratio of 1.07. The firm’s 50 day moving average price is $7.64 and its two-hundred day moving average price is $8.61.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings data on Wednesday, September 6th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.22). ChargePoint had a negative return on equity of 106.73% and a negative net margin of 65.71%. The firm had revenue of $150.49 million for the quarter, compared to analysts’ expectations of $153.25 million. During the same quarter in the previous year, the firm posted ($0.27) earnings per share. The company’s revenue for the quarter was up 39.0% on a year-over-year basis. As a group, sell-side analysts forecast that ChargePoint Holdings, Inc. will post -0.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CHPT shares. TD Cowen lowered their price objective on shares of ChargePoint from $14.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, September 7th. DA Davidson lowered their price objective on shares of ChargePoint from $18.00 to $15.00 in a research note on Monday, June 5th. Bank of America lowered their price objective on shares of ChargePoint from $14.00 to $11.50 in a research note on Friday, September 8th. Needham & Company LLC lowered their price objective on shares of ChargePoint from $13.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, September 7th. Finally, Royal Bank of Canada started coverage on shares of ChargePoint in a research note on Friday, September 8th. They set an “outperform” rating and a $9.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.92.

Institutional Investors Weigh In On ChargePoint

A number of institutional investors have recently modified their holdings of CHPT. Bank of New York Mellon Corp boosted its stake 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 valued at $12,969,000 after buying an additional 48,903 shares during the period. HighTower Advisors LLC boosted its stake in shares of ChargePoint by 46.4% during the 1st quarter. HighTower Advisors LLC now owns 30,579 shares of the company’s stock valued at $610,000 after buying an additional 9,689 shares during the period. Private Advisor Group LLC boosted its stake in shares of ChargePoint by 152.8% during the 1st quarter. Private Advisor Group LLC now owns 35,608 shares of the company’s stock valued at $708,000 after buying an additional 21,524 shares during the period. D.A. Davidson & CO. acquired a new stake in shares of ChargePoint during the 1st quarter valued at $213,000. Finally, MetLife Investment Management LLC acquired a new stake in shares of ChargePoint during the 1st quarter valued at $91,000. Institutional investors and hedge funds own 45.01% 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 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.