ChargePoint (NYSE:CHPT) Insider Jagdeep Ca Singh Sells 9,719 Shares of Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) insider Jagdeep Ca Singh sold 9,719 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $7.14, for a total value of $69,393.66. Following the completion of the transaction, the insider owned 187,846 shares of the company’s stock, valued at $1,341,220.44. This trade represents a 4.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ChargePoint Stock Down 14.2%

ChargePoint stock opened at $6.80 on Wednesday. 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 business’s 50-day simple moving average is $6.92 and its two-hundred day simple moving average is $6.59. The company has a market cap of $166.03 million, a PE ratio of -0.78 and a beta of 1.74. ChargePoint Holdings, Inc. has a fifty-two week low of $4.44 and a fifty-two week high of $16.20.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings data on Wednesday, June 3rd. The company reported ($1.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.64). ChargePoint had a negative return on equity of 504.42% and a negative net margin of 49.66%.The firm had revenue of $101.82 million during the quarter, compared to analysts’ expectations of $95.64 million. Equities analysts anticipate that ChargePoint Holdings, Inc. will post -5.48 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Rothschild Investment LLC boosted its position in ChargePoint by 233.3% in the 4th quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock worth $33,000 after purchasing an additional 3,500 shares in the last quarter. Pilgrim Partners Asia Pte Ltd increased its holdings in shares of ChargePoint by 56.4% during the 4th quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company’s stock valued at $57,000 after purchasing an additional 3,100 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of ChargePoint during the 4th quarter valued at approximately $73,000. EFG International AG acquired a new position in shares of ChargePoint in the 4th quarter valued at $72,000. Finally, R Squared Ltd acquired a new position in shares of ChargePoint in the 1st quarter valued at $59,000. 37.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CHPT has been the subject of several research reports. Royal Bank Of Canada restated a “sector perform” rating and set a $6.50 price objective on shares of ChargePoint in a research note on Thursday, June 4th. TD Cowen reiterated a “hold” rating and issued a $7.50 price objective (up from $7.00) on shares of ChargePoint in a research note on Wednesday, June 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of ChargePoint in a report on Monday, April 20th. UBS Group restated a “neutral” rating and set a $8.00 target price (up from $7.00) on shares of ChargePoint in a research report on Tuesday. Finally, B. Riley Financial lowered their price target on shares of ChargePoint from $11.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, March 13th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, ChargePoint currently has an average rating of “Reduce” and a consensus target price of $8.31.

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.