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 $64,523 were sold by CHIZEN BRUCE R on Aug 02. At $15.01 per share, CHIZEN BRUCE R sold 4,300 shares. The insider’s holdings dropped to 3,985 shares worth approximately $63281.8 following the completion of this transaction.
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Also, CHIZEN BRUCE R sold 4,300 shares, netting a total of over 64,524 in proceeds. Following the sale of shares at $15.01 each, the insider now holds 24,162 shares.
Before that, Hughes Michael D had sold 14,799 shares from its account. In a trade valued at $222,277, the insider traded ChargePoint Holdings Inc. shares for $15.02 each. Upon closing the transaction, the insider’s holdings decreased to 14,799 shares, worth approximately $15.37 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 20.6% premium over Thursday’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 Thursday, ChargePoint Holdings Inc. [NYSE: CHPT] plunged -0.50% to $15.88. The stock’s lowest price that day was $15.555, but it reached a high of $16.1879 in the same session. During the last five days, there has been a surge of approximately 3.79%. Over the course of the year, ChargePoint Holdings Inc. shares have dropped approximately -16.64%. 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 $13.62, while a 200-day SMA reached $16.64. Nevertheless, trading volume fell to 5.64 million shares from 7.55 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 15.56, which, if violated, would cause prices to drop to 15.24. In the upper region, resistance lies at 16.19. The next price resistance is at 16.51. RSI (Relative Strength Index) is 61.76 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.49, which suggests the price will increase in the coming days. Percent R is at 7.16%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is ChargePoint Holdings Inc. subject to short interest?
Stocks of ChargePoint Holdings Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -3.47 million shares to 42.24 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 45.71 million shares. A decline of -8.21% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.28 of the overall float, the days-to-cover ratio (short ratio) decline to 4.28.
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 5.73% 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 transaction, Canada Pension Plan Investment Bo’s stake is now worth $107,045,779. BlackRock Fund Advisors acquire a 3.45% interest valued at $99.51 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 $32.14 million.
In terms of ChargePoint Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $22.73 in the next 12 months, up nearly 25.31% from the previous closing price of $15.96. 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.