ChargePoint Target of Unusually High Options Trading (NYSE:CHPT)

ChargePoint Holdings, Inc. (NYSE:CHPTGet Rating) was the recipient of unusually large options trading activity on Thursday. Stock investors purchased 370,163 call options on the stock. This represents an increase of approximately 244% compared to the average volume of 107,591 call options.

Insider Transactions at ChargePoint

In other news, CAO Henrik Gerdes sold 43,606 shares of ChargePoint stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $12.07, for a total transaction of $526,324.42. Following the sale, the chief accounting officer now owns 121,877 shares of the company’s stock, valued at approximately $1,471,055.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other ChargePoint news, CMO Colleen Jansen sold 2,228 shares of ChargePoint stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $13.63, for a total transaction of $30,367.64. Following the completion of the sale, the chief marketing officer now directly owns 589,597 shares of the company’s stock, valued at approximately $8,036,207.11. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Henrik Gerdes sold 43,606 shares of the stock in a transaction on Monday, July 11th. The stock was sold at an average price of $12.07, for a total value of $526,324.42. Following the transaction, the chief accounting officer now directly owns 121,877 shares in the company, valued at approximately $1,471,055.39. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,016,935 shares of company stock worth $27,169,201. Insiders own 23.64% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wagner Wealth Management LLC grew its stake in shares of ChargePoint by 236.7% in the 4th quarter. Wagner Wealth Management LLC now owns 1,549 shares of the company’s stock valued at $30,000 after buying an additional 1,089 shares during the period. Wolff Wiese Magana LLC purchased a new position in ChargePoint in the second quarter worth approximately $31,000. Joseph P. Lucia & Associates LLC raised its position in ChargePoint by 1,057.7% in the second quarter. Joseph P. Lucia & Associates LLC now owns 3,010 shares of the company’s stock valued at $41,000 after purchasing an additional 2,750 shares during the period. Wealth Advisors Inc. acquired a new position in shares of ChargePoint in the 1st quarter valued at $47,000. Finally, Clearstead Advisors LLC increased its position in shares of ChargePoint by 173.6% during the 1st quarter. Clearstead Advisors LLC now owns 2,599 shares of the company’s stock worth $52,000 after purchasing an additional 1,649 shares during the last quarter. 51.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CHPT has been the subject of several recent research reports. Citigroup reduced their price target on ChargePoint from $17.00 to $15.50 in a research report on Wednesday, June 1st. B. Riley began coverage on shares of ChargePoint in a research note on Friday, June 17th. They set a “buy” rating and a $20.00 price target on the stock. Piper Sandler dropped their price objective on shares of ChargePoint from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, June 1st. DA Davidson reduced their target price on ChargePoint from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, June 2nd. Finally, Stifel Nicolaus cut their price objective on ChargePoint from $32.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, June 22nd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.63.

ChargePoint Price Performance

Shares of NYSE CHPT opened at $15.30 on Friday. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of -15.30 and a beta of 1.96. ChargePoint has a 52 week low of $8.50 and a 52 week high of $28.72. The firm has a 50-day simple moving average of $13.32 and a 200-day simple moving average of $14.28. The company has a quick ratio of 3.13, a current ratio of 3.35 and a debt-to-equity ratio of 0.63.

ChargePoint (NYSE:CHPTGet Rating) last issued its earnings results on Tuesday, May 31st. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.04). ChargePoint had a negative return on equity of 53.96% and a negative net margin of 107.29%. The company had revenue of $81.63 million for the quarter, compared to analyst estimates of $75.10 million. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. On average, equities analysts predict that ChargePoint will post -0.94 earnings per share for the current fiscal year.

ChargePoint Company Profile

(Get Rating)

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.

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