ChargePoint (NYSE:CHPT) CAO Sells $15,985.46 in Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Natella Fakhradovna Novruzova sold 2,242 shares of ChargePoint stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $7.13, for a total transaction of $15,985.46. Following the completion of the transaction, the chief accounting officer owned 29,315 shares in the company, valued at approximately $209,015.95. This trade represents a 7.10% decrease in their position. The sale was disclosed in a legal filing 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 Stock Down 5.1%

CHPT opened at $5.29 on Friday. ChargePoint Holdings, Inc. has a 1 year low of $4.44 and a 1 year high of $16.20. The firm has a 50 day moving average price of $6.90 and a 200 day moving average price of $6.53. The company has a debt-to-equity ratio of 10.73, a quick ratio of 0.56 and a current ratio of 1.15. The company has a market cap of $129.30 million, a PE ratio of -0.61 and a beta of 1.74.

ChargePoint (NYSE:CHPT) last issued its 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 company had revenue of $101.82 million during the quarter, compared to analysts’ expectations of $95.64 million. ChargePoint had a negative return on equity of 504.42% and a negative net margin of 49.66%. Sell-side analysts expect that ChargePoint Holdings, Inc. will post -5.48 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CHPT shares. Wall Street Zen upgraded ChargePoint from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. B. Riley Financial decreased their price objective on shares of ChargePoint from $11.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, March 13th. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a research note on Thursday, June 4th. UBS Group reissued a “neutral” rating and set a $8.00 target price (up from $7.00) on shares of ChargePoint in a report on Tuesday. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $6.50 price target on shares of ChargePoint in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $8.31.

Institutional Investors Weigh In On ChargePoint

A number of hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. raised its stake in ChargePoint by 12,808.6% during the 4th 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. Pilgrim Partners Asia Pte Ltd grew its stake in shares of ChargePoint by 56.4% in the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company’s stock worth $57,000 after purchasing an additional 3,100 shares in the last quarter. Sullivan Wood Capital Management LLC increased its holdings in shares of ChargePoint by 104.6% during the fourth quarter. Sullivan Wood Capital Management LLC now owns 66,500 shares of the company’s stock valued at $442,000 after purchasing an additional 34,000 shares during the period. Hsbc Holdings PLC bought a new stake in shares of ChargePoint during the fourth quarter valued at about $73,000. Finally, EFG International AG bought a new stake in shares of ChargePoint during the fourth quarter valued at about $72,000. 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.