Jagdeep Ca Singh Sells 5,965 Shares of ChargePoint (NYSE:CHPT) Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) insider Jagdeep Singh sold 5,965 shares of the business’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 $58,814.90. Following the completion of the transaction, the insider owned 182,381 shares of the company’s stock, valued at approximately $1,798,276.66. This represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 CHPT stock traded up $0.44 on Tuesday, hitting $9.85. 1,804,758 shares of the stock traded hands, compared to its average volume of 4,109,930. The firm’s 50-day moving average price is $6.77 and its two-hundred day moving average price is $6.43. The company has a debt-to-equity ratio of 10.73, a quick ratio of 0.57 and a current ratio of 1.07. The stock has a market capitalization of $264.39 million, a PE ratio of -1.37 and a beta of 1.77. ChargePoint Holdings, Inc. has a twelve month low of $4.44 and a twelve month high of $12.61.

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

Institutional Trading of ChargePoint

Institutional investors have recently bought and sold shares of the business. Rothschild Investment LLC raised its position in shares of ChargePoint by 233.3% in the 4th quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock valued at $33,000 after buying an additional 3,500 shares in the last quarter. R Squared Ltd acquired a new stake in shares of ChargePoint during the 1st quarter worth approximately $59,000. Hsbc Holdings PLC boosted its position in shares of ChargePoint by 40.0% during the 1st quarter. Hsbc Holdings PLC now owns 15,220 shares of the company’s stock worth $75,000 after acquiring an additional 4,352 shares in the last quarter. Squarepoint Ops LLC increased its stake in ChargePoint by 70.8% in the second quarter. Squarepoint Ops LLC now owns 25,242 shares of the company’s stock valued at $149,000 after acquiring an additional 10,464 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in ChargePoint in the second quarter valued at approximately $344,000. Institutional investors own 37.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CHPT shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of ChargePoint in a research report on Friday, July 17th. TD Cowen restated a “hold” rating on shares of ChargePoint in a report on Thursday, September 3rd. Royal Bank Of Canada reissued a “sector perform” rating and set a $6.50 price objective on shares of ChargePoint in a report on Thursday, June 4th. UBS Group reiterated a “neutral” rating and issued a $9.00 price target (up from $8.00) on shares of ChargePoint in a research report on Tuesday. Finally, Oppenheimer restated a “market perform” rating on shares of ChargePoint in a research report on Thursday, September 3rd. Seven analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $7.07.

About ChargePoint

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.