ChargePoint (NYSE:CHPT) General Counsel Sells $35,500.27 in Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) General Counsel Eric Batill sold 4,979 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $7.13, for a total value of $35,500.27. Following the transaction, the general counsel directly owned 143,631 shares of the company’s stock, valued at $1,024,089.03. This represents a 3.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ChargePoint Price Performance

Shares of NYSE CHPT opened at $5.29 on Friday. ChargePoint Holdings, Inc. has a twelve month low of $4.44 and a twelve month high of $16.20. The company has a current ratio of 1.15, a quick ratio of 0.56 and a debt-to-equity ratio of 10.73. The firm has a 50-day moving average of $6.90 and a two-hundred day moving average of $6.53. The company has a market capitalization of $129.30 million, a price-to-earnings ratio of -0.61 and a beta of 1.74.

ChargePoint (NYSE:CHPT) last released its earnings results on Wednesday, June 3rd. The company reported ($1.75) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.64). The business had revenue of $101.82 million during the quarter, compared to the consensus estimate of $95.64 million. ChargePoint had a negative return on equity of 504.42% and a negative net margin of 49.66%. As a group, analysts expect that ChargePoint Holdings, Inc. will post -5.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ChargePoint

Several institutional investors have recently made changes to their positions in CHPT. Pilgrim Partners Asia Pte Ltd increased its holdings in ChargePoint by 56.4% in the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company’s stock worth $57,000 after buying an additional 3,100 shares during the last quarter. Rothschild Investment LLC increased its stake in shares of ChargePoint by 233.3% during the 4th quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock worth $33,000 after purchasing an additional 3,500 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of ChargePoint by 40.0% during the 1st quarter. Hsbc Holdings PLC now owns 15,220 shares of the company’s stock valued at $75,000 after purchasing an additional 4,352 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of ChargePoint by 26.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 43,534 shares of the company’s stock valued at $475,000 after purchasing an additional 9,208 shares during the last quarter. Finally, EFG International AG acquired a new position in ChargePoint during the fourth quarter worth $72,000. 37.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of ChargePoint in a research report on Monday, April 20th. Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a research report on Thursday, June 4th. Royal Bank Of Canada restated a “sector perform” rating and issued a $6.50 price target on shares of ChargePoint in a research report on Thursday, June 4th. UBS Group reiterated a “neutral” rating and set a $8.00 price objective (up from $7.00) on shares of ChargePoint in a research report on Tuesday. Finally, Wall Street Zen upgraded ChargePoint from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, ChargePoint currently has an average rating of “Reduce” and a consensus target price of $8.31.

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.