ChargePoint (NYSE:CHPT) Insider John David Vice Sells 4,072 Shares of Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) insider John David Vice sold 4,072 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $7.13, for a total transaction of $29,033.36. Following the sale, the insider owned 171,507 shares of the company’s stock, valued at $1,222,844.91. This trade represents a 2.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ChargePoint Price Performance

CHPT stock opened at $6.80 on Wednesday. The company has a market capitalization of $166.03 million, a P/E ratio of -0.78 and a beta of 1.74. The company has a debt-to-equity ratio of 10.73, a quick ratio of 0.56 and a current ratio of 1.15. ChargePoint Holdings, Inc. has a 52-week low of $4.44 and a 52-week high of $16.20. The business has a 50-day simple moving average of $6.92 and a two-hundred day simple moving average of $6.59.

ChargePoint (NYSE:CHPT) last posted its 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). ChargePoint had a negative return on equity of 504.42% and a negative net margin of 49.66%.The firm had revenue of $101.82 million during the quarter, compared to the consensus estimate of $95.64 million. Research analysts expect that ChargePoint Holdings, Inc. will post -5.48 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CHPT. B. Riley Financial reduced their price target on ChargePoint from $11.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, March 13th. Royal Bank Of Canada reissued 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 upgraded shares of ChargePoint from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. JPMorgan Chase & Co. reduced their price objective on shares of ChargePoint from $8.00 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, March 5th. Finally, UBS Group reaffirmed a “neutral” rating and set a $8.00 target price (up from $7.00) on shares of ChargePoint in a report on Tuesday. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $8.31.

Institutional Investors Weigh In On ChargePoint

Several institutional investors have recently added to or reduced their stakes in CHPT. AQR Capital Management LLC grew its stake in ChargePoint by 6,429.1% in the first quarter. AQR Capital Management LLC now owns 2,679,217 shares of the company’s stock worth $1,553,000 after purchasing an additional 2,638,182 shares during the period. Goldman Sachs Group Inc. lifted its position in ChargePoint by 61.8% during the first quarter. Goldman Sachs Group Inc. now owns 3,790,823 shares of the company’s stock valued at $2,293,000 after buying an additional 1,448,114 shares during the period. Brevan Howard Capital Management LP bought a new stake in shares of ChargePoint during the 2nd quarter valued at $517,000. Qube Research & Technologies Ltd bought a new stake in shares of ChargePoint during the 2nd quarter valued at $518,000. Finally, Two Sigma Securities LLC grew its position in shares of ChargePoint by 4,060.7% in the 2nd quarter. Two Sigma Securities LLC now owns 679,693 shares of the company’s stock worth $478,000 after buying an additional 663,357 shares during the period. Hedge funds and other institutional investors own 37.77% of the company’s stock.

About ChargePoint

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.