Stock Traders Purchase High Volume of ChargePoint Call Options (NYSE:CHPT)

ChargePoint Holdings, Inc. (NYSE:CHPT) was the recipient of some unusual options trading on Monday. Stock traders acquired 10,248 call options on the stock. This is an increase of approximately 434% compared to the typical daily volume of 1,918 call options.

Analyst Upgrades and Downgrades

CHPT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of ChargePoint from $8.00 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, March 5th. Roth Mkm set a $8.50 price objective on shares of ChargePoint and gave the stock a “neutral” rating in a research note on Friday, December 5th. UBS Group reaffirmed a “neutral” rating and set a $9.00 target price (down from $12.00) on shares of ChargePoint in a research note on Monday, December 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of ChargePoint in a report on Wednesday, January 21st. Finally, B. Riley Financial decreased their price target on ChargePoint from $11.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $10.11.

Insider Buying and Selling at ChargePoint

In other ChargePoint news, insider Jagdeep Ca Singh sold 4,832 shares of ChargePoint stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $6.99, for a total transaction of $33,775.68. Following the completion of the transaction, the insider directly owned 124,627 shares of the company’s stock, valued at $871,142.73. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mansi Khetani sold 3,943 shares of the stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $6.99, for a total transaction of $27,561.57. Following the completion of the sale, the chief financial officer directly owned 130,363 shares in the company, valued at approximately $911,237.37. This represents a 2.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,670 shares of company stock worth $88,534 in the last 90 days. 3.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in shares of ChargePoint by 6,429.1% in the 1st quarter. AQR Capital Management LLC now owns 2,679,217 shares of the company’s stock worth $1,553,000 after buying an additional 2,638,182 shares during the period. Integrated Wealth Concepts LLC increased its stake in shares of ChargePoint by 2,885.1% during the first quarter. Integrated Wealth Concepts LLC now owns 461,771 shares of the company’s stock valued at $279,000 after buying an additional 446,302 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of ChargePoint by 14.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 283,924 shares of the company’s stock valued at $172,000 after buying an additional 36,097 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of ChargePoint by 61.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,790,823 shares of the company’s stock valued at $2,293,000 after acquiring an additional 1,448,114 shares in the last quarter. Finally, Focus Partners Wealth bought a new stake in shares of ChargePoint in the first quarter valued at about $27,000. Institutional investors own 37.77% of the company’s stock.

ChargePoint Trading Up 1.2%

CHPT traded up $0.07 on Monday, reaching $5.41. 267,782 shares of the company traded hands, compared to its average volume of 491,751. The company has a market cap of $127.83 million, a P/E ratio of -0.58 and a beta of 1.40. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 8.38. ChargePoint has a one year low of $5.23 and a one year high of $17.78. The firm has a fifty day simple moving average of $6.31 and a two-hundred day simple moving average of $8.50.

ChargePoint Company Profile

ChargePoint (NYSE: CHPT) is a leading provider of electric vehicle (EV) charging solutions that designs, develops and markets charging hardware, software and services. The company’s portfolio includes Level 2 AC charging stations for residential, commercial and fleet applications, as well as DC fast charging systems suited for retail, hospitality and public use. ChargePoint’s integrated platform enables site hosts to manage charging infrastructure through cloud-based monitoring, analytics and billing tools, while EV drivers access and control charging sessions via a mobile app or RFID card.

Since its founding in 2007 and headquarters in Campbell, California, ChargePoint has built one of the largest open EV charging networks in the world.