ChargePoint (NYSE:CHPT) General Counsel Sells $20,772.48 in Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) General Counsel Eric Batill sold 2,976 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $6.98, for a total value of $20,772.48. Following the sale, the general counsel directly owned 81,305 shares of the company’s stock, valued at approximately $567,508.90. This trade represents a 3.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

ChargePoint Stock Down 0.3%

Shares of NYSE CHPT opened at $7.12 on Friday. The firm’s fifty day moving average is $9.03 and its 200 day moving average is $11.00. ChargePoint Holdings, Inc. has a 52 week low of $6.90 and a 52 week high of $26.00. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 8.38. The company has a market cap of $168.39 million, a price-to-earnings ratio of -0.69 and a beta of 1.43.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings results on Thursday, December 4th. The company reported ($2.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.88). The firm had revenue of $105.67 million during the quarter, compared to the consensus estimate of $96.51 million. ChargePoint had a negative return on equity of 209.46% and a negative net margin of 59.54%.During the same period last year, the business earned ($1.94) EPS. On average, equities research analysts expect that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current year.

Institutional Trading of ChargePoint

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its position in ChargePoint by 61.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,790,823 shares of the company’s stock valued at $2,293,000 after acquiring an additional 1,448,114 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of ChargePoint by 2.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,423,298 shares of the company’s stock valued at $2,071,000 after purchasing an additional 86,753 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of ChargePoint by 6,429.1% during the first quarter. AQR Capital Management LLC now owns 2,679,217 shares of the company’s stock valued at $1,553,000 after purchasing an additional 2,638,182 shares during the last quarter. Invesco Ltd. boosted its position in shares of ChargePoint by 18.4% in the 2nd quarter. Invesco Ltd. now owns 2,483,139 shares of the company’s stock worth $1,746,000 after purchasing an additional 385,258 shares in the last quarter. Finally, GMT Capital Corp purchased a new stake in shares of ChargePoint in the 1st quarter worth approximately $1,226,000. 37.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group reissued a “sell” rating and set a $10.00 target price (up from $9.00) on shares of ChargePoint in a research note on Monday, December 8th. Roth Capital set a $8.50 price objective on shares of ChargePoint and gave the company a “neutral” rating in a research report on Friday, December 5th. B. Riley dropped their target price on shares of ChargePoint from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, December 10th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $9.00 target price (down previously from $10.00) on shares of ChargePoint in a research note on Friday, December 5th. Finally, TD Cowen decreased their price target on shares of ChargePoint from $30.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, September 4th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $12.65.

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.