ChargePoint (NYSE:CHPT) CAO Sells 1,484 Shares of Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Natella Novruzova sold 1,484 shares of the company’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $9.86, for a total transaction of $14,632.24. Following the sale, the chief accounting officer directly owned 28,213 shares in the company, valued at approximately $278,180.18. The trade was a 5.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ChargePoint Trading Up 4.6%

Shares of NYSE CHPT traded up $0.44 during trading hours on Tuesday, hitting $9.85. 1,804,758 shares of the company traded hands, compared to its average volume of 4,109,930. ChargePoint Holdings, Inc. has a 12 month low of $4.44 and a 12 month high of $12.61. The stock has a market capitalization of $264.39 million, a price-to-earnings ratio of -1.37 and a beta of 1.77. The company has a current ratio of 1.07, a quick ratio of 0.57 and a debt-to-equity ratio of 10.73. The company’s 50 day moving average price is $6.77 and its 200 day moving average price is $6.43.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings results on Wednesday, September 2nd. The company reported ($1.35) EPS for the quarter, topping analysts’ consensus estimates of ($1.57) by $0.22. The firm had revenue of $116.08 million for the quarter, compared to analysts’ expectations of $105.21 million. ChargePoint had a negative net margin of 40.59% and a negative return on equity of 3,366.29%. On average, equities research analysts anticipate that ChargePoint Holdings, Inc. will post -3.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ChargePoint

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in shares of ChargePoint in the 2nd quarter valued at approximately $344,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of ChargePoint by 12,808.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 237,906 shares of the company’s stock worth $1,580,000 after buying an additional 236,063 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of ChargePoint by 70.8% during the 2nd quarter. Squarepoint Ops LLC now owns 25,242 shares of the company’s stock valued at $149,000 after buying an additional 10,464 shares during the period. Renaissance Technologies LLC raised its position in shares of ChargePoint by 77.7% during the 1st quarter. Renaissance Technologies LLC now owns 144,059 shares of the company’s stock valued at $700,000 after buying an additional 63,000 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in ChargePoint by 40.0% in the first quarter. Hsbc Holdings PLC now owns 15,220 shares of the company’s stock valued at $75,000 after acquiring an additional 4,352 shares during the last quarter. 37.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CHPT has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of ChargePoint in a report on Friday, July 17th. UBS Group reissued a “neutral” rating and set a $9.00 price target (up from $8.00) on shares of ChargePoint in a research report on Tuesday. Oppenheimer reissued a “market perform” rating on shares of ChargePoint in a report on Thursday, September 3rd. B. Riley Financial restated a “neutral” rating on shares of ChargePoint in a research report on Friday, September 4th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $6.50 price target on shares of ChargePoint in a research note on Thursday, June 4th. Seven equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ChargePoint presently has a consensus rating of “Reduce” and a consensus price target of $7.07.

ChargePoint Company Profile

ChargePoint Holdings, Inc operates an electric vehicle (EV) charging network and provides charging hardware, software and related services. Its platform is designed to support drivers, businesses, fleet operators, property owners and other organizations managing EV charging infrastructure.

The company offers Level 2 and DC fast-charging stations, cloud-based software for monitoring and managing charging activity, payment and access tools, and services such as installation, maintenance and customer support.