ChargePoint (NYSE:CHPT) General Counsel Eric Batill Sells 4,979 Shares

ChargePoint Holdings, Inc. (NYSE:CHPT) General Counsel Eric Batill sold 4,979 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $7.13, for a total transaction of $35,500.27. Following the sale, the general counsel owned 143,631 shares of the company’s stock, valued at approximately $1,024,089.03. This represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ChargePoint Trading Down 14.2%

Shares of CHPT stock traded down $1.13 during mid-day trading on Tuesday, reaching $6.80. The company’s stock had a trading volume of 958,363 shares, compared to its average volume of 661,641. 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 firm has a market capitalization of $166.06 million, a PE ratio of -0.78 and a beta of 1.74. The company’s 50 day simple moving average is $6.92 and its 200-day simple moving average is $6.59. ChargePoint Holdings, Inc. has a 12-month low of $4.44 and a 12-month high of $16.20.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings results on Wednesday, June 3rd. The company reported ($1.75) earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 49.66% and a negative return on equity of 504.42%. On average, research analysts predict that ChargePoint Holdings, Inc. will post -5.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On ChargePoint

A number of institutional investors have recently made changes to their positions in the business. Focus Partners Wealth purchased a new position in shares of ChargePoint during the 1st quarter valued at approximately $27,000. Rothschild Investment LLC boosted its stake in ChargePoint by 233.3% during the 4th quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock valued at $33,000 after acquiring an additional 3,500 shares during the last quarter. Corient Private Wealth LLC boosted its stake in ChargePoint by 57.1% during the 2nd quarter. Corient Private Wealth LLC now owns 67,345 shares of the company’s stock valued at $47,000 after acquiring an additional 24,470 shares during the last quarter. Pilgrim Partners Asia Pte Ltd grew its holdings in ChargePoint by 56.4% during the 4th quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company’s stock worth $57,000 after acquiring an additional 3,100 shares in the last quarter. Finally, R Squared Ltd acquired a new position in ChargePoint during the 1st quarter worth $59,000. 37.77% of the stock is owned by institutional investors and hedge funds.

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.