ChargePoint (NYSE:CHPT) Insider Sells $69,393.66 in Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) insider Jagdeep Ca Singh sold 9,719 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $7.14, for a total value of $69,393.66. Following the completion of the sale, the insider owned 187,846 shares of the company’s stock, valued at $1,341,220.44. The trade was a 4.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ChargePoint Stock Performance

Shares of ChargePoint stock opened at $5.29 on Friday. ChargePoint Holdings, Inc. has a 12 month low of $4.44 and a 12 month high of $16.20. 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 stock has a market cap of $129.30 million, a PE ratio of -0.61 and a beta of 1.74. The business has a fifty day simple moving average of $6.90 and a 200-day simple moving average of $6.53.

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

Wall Street Analyst Weigh In

Several analysts recently commented on CHPT shares. UBS Group restated a “neutral” rating and set a $8.00 price target (up from $7.00) on shares of ChargePoint in a report on Tuesday. B. Riley Financial lowered their price target on shares of ChargePoint from $11.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, March 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ChargePoint in a report on Monday, April 20th. Royal Bank Of Canada restated a “sector perform” rating and issued a $6.50 target price on shares of ChargePoint in a research note on Thursday, June 4th. Finally, Wall Street Zen raised ChargePoint from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $8.31.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Rothschild Investment LLC boosted its holdings in ChargePoint by 233.3% in the fourth quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock worth $33,000 after purchasing an additional 3,500 shares in the last quarter. Pilgrim Partners Asia Pte Ltd raised its holdings in 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. Hsbc Holdings PLC bought a new position in ChargePoint during the fourth quarter valued at about $73,000. EFG International AG acquired a new stake in shares of ChargePoint in the fourth quarter worth about $72,000. Finally, R Squared Ltd acquired a new stake in shares of ChargePoint in the first quarter worth about $59,000. Institutional investors own 37.77% of the company’s stock.

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.