ChargePoint (NYSE:CHPT) CAO Natella Fakhradovna Novruzova Sells 2,242 Shares of Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Natella Fakhradovna Novruzova sold 2,242 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $7.13, for a total value of $15,985.46. Following the completion of the sale, the chief accounting officer owned 29,315 shares of the company’s stock, valued at approximately $209,015.95. This trade represents a 7.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ChargePoint Trading Down 14.2%

Shares of CHPT stock opened at $6.80 on Wednesday. ChargePoint Holdings, Inc. has a fifty-two week low of $4.44 and a fifty-two week high of $16.20. The company has a quick ratio of 0.56, a current ratio of 1.15 and a debt-to-equity ratio of 10.73. The stock has a market capitalization of $166.03 million, a P/E ratio of -0.78 and a beta of 1.74. The stock has a 50-day simple moving average of $6.92 and a 200 day simple moving average of $6.59.

ChargePoint (NYSE:CHPT) last posted 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 business had revenue of $101.82 million for the quarter, compared to the consensus estimate of $95.64 million. ChargePoint had a negative net margin of 49.66% and a negative return on equity of 504.42%. On average, sell-side analysts expect that ChargePoint Holdings, Inc. will post -5.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ChargePoint

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHPT. Focus Partners Wealth acquired a new stake in ChargePoint during the 1st quarter valued at $27,000. Rothschild Investment LLC lifted its holdings in shares of ChargePoint by 233.3% in the fourth quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock valued at $33,000 after purchasing an additional 3,500 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of ChargePoint by 57.1% in the second quarter. Corient Private Wealth LLC now owns 67,345 shares of the company’s stock worth $47,000 after buying an additional 24,470 shares during the period. Pilgrim Partners Asia Pte Ltd grew its holdings in shares of ChargePoint by 56.4% during the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company’s stock valued at $57,000 after buying an additional 3,100 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of ChargePoint during the first quarter valued at $59,000. Institutional investors and hedge funds own 37.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on CHPT shares. JPMorgan Chase & Co. decreased their price target on shares of ChargePoint from $8.00 to $5.00 and set an “underweight” rating on the stock in a research report on Thursday, March 5th. TD Cowen reiterated a “hold” rating and set a $7.50 price objective (up from $7.00) on shares of ChargePoint in a research report on Wednesday, June 17th. Royal Bank Of Canada reissued a “sector perform” rating and set a $6.50 price objective on shares of ChargePoint in a research note on Thursday, June 4th. UBS Group restated a “neutral” rating and issued a $8.00 target price (up from $7.00) on shares of ChargePoint in a report on Tuesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a research report on Thursday, June 4th. One 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price 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.