ChargePoint (NYSE:CHPT) CAO Sells $14,632.24 in Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Natella Novruzova sold 1,484 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $9.86, for a total value of $14,632.24. Following the completion of the sale, the chief accounting officer directly owned 28,213 shares of the company’s stock, valued at approximately $278,180.18. The trade was a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 Price Performance

ChargePoint stock traded up $0.44 during mid-day trading on Tuesday, reaching $9.85. 1,804,758 shares of the company were exchanged, compared to its average volume of 4,109,930. ChargePoint Holdings, Inc. has a 12 month low of $4.44 and a 12 month high of $12.61. The company has a debt-to-equity ratio of 10.73, a current ratio of 1.07 and a quick ratio of 0.57. The company has a fifty day simple moving average of $6.77 and a 200-day simple moving average of $6.43. The firm has a market cap of $264.39 million, a PE ratio of -1.37 and a beta of 1.77.

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

Institutional Investors Weigh In On ChargePoint

Several hedge funds have recently bought and sold shares of CHPT. Northwestern Mutual Wealth Management Co. increased its holdings in shares of ChargePoint by 12,808.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 237,906 shares of the company’s stock valued at $1,580,000 after acquiring an additional 236,063 shares in the last quarter. Renaissance Technologies LLC raised its stake in ChargePoint by 77.7% during the 1st quarter. Renaissance Technologies LLC now owns 144,059 shares of the company’s stock valued at $700,000 after buying an additional 63,000 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of ChargePoint during the 2nd quarter valued at about $344,000. Squarepoint Ops LLC grew its position in ChargePoint by 70.8% during the second quarter. Squarepoint Ops LLC now owns 25,242 shares of the company’s stock valued at $149,000 after buying an additional 10,464 shares during the period. Finally, Hsbc Holdings PLC raised its holdings 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 purchasing an additional 4,352 shares during the period. Institutional investors own 37.77% of the company’s stock.

Analysts Set New Price Targets

CHPT has been the subject of a number of recent research reports. 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. TD Cowen reaffirmed a “hold” rating on shares of ChargePoint in a research report on Thursday, September 3rd. B. Riley Financial restated a “neutral” rating on shares of ChargePoint in a research note on Friday, September 4th. UBS Group reissued a “neutral” rating and issued a $9.00 target price (up from $8.00) on shares of ChargePoint in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a report on Thursday, September 3rd. Seven research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $7.07.

ChargePoint Company Profile

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.