Natella Fakhradovna Novruzova Sells 2,242 Shares of ChargePoint (NYSE:CHPT) Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Natella Fakhradovna Novruzova sold 2,242 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $7.13, for a total value of $15,985.46. Following the sale, the chief accounting officer owned 29,315 shares of the company’s stock, valued at $209,015.95. This trade represents a 7.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ChargePoint Stock Performance

CHPT opened at $5.62 on Thursday. The firm has a market cap of $137.14 million, a PE ratio of -0.65 and a beta of 1.74. The company has a quick ratio of 0.56, a current ratio of 1.15 and a debt-to-equity ratio of 10.73. The business has a fifty day simple moving average of $6.92 and a 200-day simple moving average of $6.57. ChargePoint Holdings, Inc. has a fifty-two week low of $4.44 and a fifty-two week high of $16.20.

ChargePoint (NYSE:CHPT) last issued its earnings results on Wednesday, June 3rd. The company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.64). The company had revenue of $101.82 million during the quarter, compared to analyst estimates 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, equities analysts predict that ChargePoint Holdings, Inc. will post -5.48 EPS for the current fiscal year.

Institutional Trading of ChargePoint

Several hedge funds and other institutional investors have recently modified their holdings of CHPT. Pilgrim Partners Asia Pte Ltd grew its holdings in shares of ChargePoint by 56.4% during the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company’s stock valued at $57,000 after buying an additional 3,100 shares in the last quarter. Rothschild Investment LLC lifted its stake in ChargePoint by 233.3% in the 4th quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock worth $33,000 after acquiring an additional 3,500 shares in the last quarter. Hsbc Holdings PLC lifted its stake in ChargePoint by 40.0% in 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. BNP Paribas Financial Markets lifted its stake in ChargePoint by 26.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 43,534 shares of the company’s stock worth $475,000 after acquiring an additional 9,208 shares in the last quarter. Finally, EFG International AG acquired a new stake in ChargePoint during the 4th quarter worth about $72,000. Institutional investors and hedge funds own 37.77% of the company’s stock.

Analysts Set New Price Targets

CHPT has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on ChargePoint from $8.00 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday, March 5th. B. Riley Financial reduced their price objective on shares of ChargePoint from $11.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday, March 13th. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a report on Thursday, June 4th. TD Cowen reissued a “hold” rating and issued a $7.50 target price (up from $7.00) on shares of ChargePoint in a research report on Wednesday, June 17th. Finally, Wall Street Zen upgraded shares of 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 stock. According to data from MarketBeat.com, the company presently 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.