Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. ChargePoint Holdings Inc. shares valued at $52,016 were sold by Loewenthal William J on Jun 17. At $12.92 per share, Loewenthal William J sold 4,026 shares. The insider’s holdings dropped to 443,512 shares worth approximately $6.32 million following the completion of this transaction.
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Also, Romano Pasquale sold 250,000 shares, netting a total of over 3,257,800 in proceeds. Following the sale of shares at $13.03 each, the insider now holds 4,145,304 shares.
Before that, Romano Pasquale had sold 250,802 shares from its account. In a trade valued at $3,885,097, the President and CEO traded ChargePoint Holdings Inc. shares for $15.49 each. Upon closing the transaction, the insider’s holdings decreased to 250,802 shares, worth approximately $59.07 million.
As published in their initiating research note from B. Riley Securities on June 17, 2022, ChargePoint Holdings Inc. [CHPT] has been a Buy and the price target has been revised to $20. This represents a 28.75% premium over Wednesday’s closing price. Analysts at Tudor Pickering Holt & Co. started covering the stock with ‘”a Buy”‘ outlook in a report released in late April. As of February 22, 2022, Needham has reiterated its “Buy” rating for CHPT. Earlier on January 28, 2022, JP Morgan upgraded its rating. Their new recommendation was “an Overweight” for CHPT stock which previously was a “a Neutral”.
Analyzing CHPT’s Price Performance
On Wednesday, ChargePoint Holdings Inc. [NYSE: CHPT] plunged -1.25% to $14.25. The stock’s lowest price that day was $13.27, but it reached a high of $14.778 in the same session. During the last five days, there has been a surge of approximately 13.91%. Over the course of the year, ChargePoint Holdings Inc. shares have dropped approximately -25.20%. Shares of the company reached a 52-week high of $20.99 on 04/04/22 and a 52-week low of $8.50 on 05/12/22. A 50-day SMA is recorded $13.17, while a 200-day SMA reached $17.60. Nevertheless, trading volume fell to 7.64 million shares from 8.91 million shares the previous day.
Support And Resistance Levels for ChargePoint Holdings Inc. (CHPT)
According to the 24-hour chart, there is a support level at 13.42, which, if violated, would cause prices to drop to 12.59. In the upper region, resistance lies at 14.93. The next price resistance is at 15.61. RSI (Relative Strength Index) is 54.49 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.13, which suggests the price will decrease in the coming days. Percent R is at 44.32%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is ChargePoint Holdings Inc. subject to short interest?
Stocks of ChargePoint Holdings Inc. saw a sharp rise in short interest on Apr 28, 2022 jumping by 6.56 million shares to 35.0 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 28.44 million shares. A jump of 18.74% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.35 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.35.
Which companies own the most shares of ChargePoint Holdings Inc. (CHPT)?
According to The Vanguard Group, Inc. filings, the company currently owns 19,301,726 shares, which is about 5.75% of the total CHPT shares outstanding. The investor’s shares have appreciated by 429,854 from its previous 13-F filing of 18871872.0 shares. With the completion of the sale, Canada Pension Plan Investment Bo’s stake is now worth $100,008,438. BlackRock Fund Advisors acquire a 3.45% interest valued at $92.96 million while Baillie Gifford & Co. sold a 125 stake. A total of 298,070 shares of ChargePoint Holdings Inc. were sold by SSgA Funds Management, Inc. during the quarter, and -72,841 were sold by First Trust Advisors LP. In its current portfolio, Geode Capital Management LLC holds 2,347,480 shares valued at $30.02 million.
In terms of ChargePoint Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $23.18 in the next 12 months, up nearly 38.6% from the previous closing price of $14.43. Analysts anticipate ChargePoint Holdings Inc. stock to reach $46.00 by 2022, with the lowest price target being $12.00. In spite of this, 20 analysts ranked ChargePoint Holdings Inc. stock as an Overweight at the end of 2022. On November 24, 2021, CapitalOne assigned a price target of “an Equal weight” to the stock and initiated coverage with a $24.