ChargePoint (NYSE:CHPT) Insider Jagdeep Ca Singh Sells 5,965 Shares

ChargePoint Holdings, Inc. (NYSE:CHPT) insider Jagdeep Singh sold 5,965 shares of the business’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 $58,814.90. Following the completion of the transaction, the insider directly owned 182,381 shares in the company, valued at approximately $1,798,276.66. The trade was a 3.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ChargePoint Price Performance

CHPT stock traded up $0.44 during midday trading on Tuesday, hitting $9.85. 1,804,758 shares of the stock were exchanged, compared to its average volume of 4,109,930. The stock has a market cap of $264.39 million, a price-to-earnings ratio of -1.37 and a beta of 1.77. The company has a debt-to-equity ratio of 10.73, a quick ratio of 0.57 and a current ratio of 1.07. The stock’s 50-day moving average price is $6.77 and its 200-day moving average price is $6.43. ChargePoint Holdings, Inc. has a fifty-two week low of $4.44 and a fifty-two week high of $12.61.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on CHPT. Oppenheimer reiterated a “market perform” rating on shares of ChargePoint in a report on Thursday, September 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of ChargePoint in a research report on Friday, July 17th. B. Riley Financial restated a “neutral” rating on shares of ChargePoint in a report on Friday, September 4th. Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a research report on Thursday, September 3rd. Finally, UBS Group reissued a “neutral” rating and set a $9.00 price target (up from $8.00) on shares of ChargePoint in a research report on Tuesday. Seven equities 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 presently has an average rating of “Reduce” and an average target price of $7.07.

Hedge Funds Weigh In On ChargePoint

A number of large investors have recently bought and sold shares of CHPT. Northwestern Mutual Wealth Management Co. raised its holdings in ChargePoint by 12,808.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 237,906 shares of the company’s stock worth $1,580,000 after buying an additional 236,063 shares during the last quarter. Renaissance Technologies LLC increased its stake in ChargePoint by 77.7% in the 1st quarter. Renaissance Technologies LLC now owns 144,059 shares of the company’s stock worth $700,000 after acquiring an additional 63,000 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in ChargePoint in the second quarter worth $344,000. Squarepoint Ops LLC boosted its position in shares of 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 lifted its position in shares of ChargePoint by 40.0% during the first 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 last quarter. 37.77% of the stock is owned by hedge funds and other institutional investors.

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.