John David Vice Sells 4,072 Shares of ChargePoint (NYSE:CHPT) 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 stock was sold at an average price of $7.13, for a total transaction of $29,033.36. Following the transaction, the insider owned 171,507 shares in the company, valued at approximately $1,222,844.91. The trade was a 2.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ChargePoint Stock Performance

Shares of CHPT stock opened at $5.62 on Thursday. The stock has a market cap of $137.14 million, a P/E ratio of -0.65 and a beta of 1.74. The company has a debt-to-equity ratio of 10.73, a current ratio of 1.15 and a quick ratio of 0.56. The company has a fifty day moving average price of $6.92 and a two-hundred day moving average price of $6.57. ChargePoint Holdings, Inc. has a one year low of $4.44 and a one year high of $16.20.

ChargePoint (NYSE:CHPT) last released its quarterly earnings data 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 firm had revenue of $101.82 million for the quarter, compared to analyst estimates of $95.64 million. ChargePoint had a negative return on equity of 504.42% and a negative net margin of 49.66%. As a group, equities analysts predict that ChargePoint Holdings, Inc. will post -5.48 EPS for the current year.

Institutional Investors Weigh In On ChargePoint

A number of hedge funds and other institutional investors have recently modified their holdings of CHPT. Renaissance Technologies LLC boosted its position in shares of ChargePoint by 77.7% in the first quarter. Renaissance Technologies LLC now owns 144,059 shares of the company’s stock valued at $700,000 after acquiring an additional 63,000 shares during the period. Hsbc Holdings PLC grew its stake in shares of ChargePoint by 40.0% in the first quarter. Hsbc Holdings PLC now owns 15,220 shares of the company’s stock valued at $75,000 after acquiring an additional 4,352 shares in the last quarter. R Squared Ltd bought a new position in ChargePoint during the first quarter worth about $59,000. Invesco Ltd. increased its position in ChargePoint by 94.2% during the fourth quarter. Invesco Ltd. now owns 340,479 shares of the company’s stock worth $2,261,000 after acquiring an additional 165,152 shares during the period. Finally, XTX Topco Ltd bought a new position in ChargePoint during the fourth quarter worth about $365,000. Institutional investors and hedge funds own 37.77% of the company’s stock.

Analysts Set New Price Targets

CHPT has been the topic of several research analyst reports. B. Riley Financial dropped their price objective on ChargePoint from $11.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, March 13th. JPMorgan Chase & Co. dropped their price target on ChargePoint from $8.00 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday, March 5th. TD Cowen reaffirmed a “hold” rating and set a $7.50 price target (up from $7.00) on shares of ChargePoint in a report on Wednesday, June 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ChargePoint in a research report on Monday, April 20th. Finally, UBS Group reiterated a “neutral” rating and issued a $8.00 price objective (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 MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $8.31.

ChargePoint Company Profile

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.