ChargePoint (NYSE:CHPT) General Counsel Sells $14,283.50 in Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) General Counsel Eric Batill sold 2,695 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $5.30, for a total transaction of $14,283.50. Following the completion of the sale, the general counsel owned 78,610 shares of the company’s stock, valued at approximately $416,633. The trade was a 3.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Eric Batill also recently made the following trade(s):

• On Tuesday, December 23rd, Eric Batill sold 2,976 shares of ChargePoint stock. The shares were sold at an average price of $6.98, for a total transaction of $20,772.48.

ChargePoint Stock Up 0.9%

ChargePoint stock opened at $5.34 on Thursday. ChargePoint Holdings, Inc. has a fifty-two week low of $5.20 and a fifty-two week high of $17.78. The company has a debt-to-equity ratio of 8.38, a quick ratio of 0.93 and a current ratio of 1.59. The firm’s 50-day simple moving average is $6.04 and its 200 day simple moving average is $8.21. The stock has a market cap of $126.27 million, a PE ratio of -0.57 and a beta of 1.40.

Institutional Investors Weigh In On ChargePoint

Institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC bought a new position in ChargePoint during the fourth quarter worth about $73,000. Invesco Ltd. raised its position in shares of ChargePoint by 94.2% in the fourth quarter. Invesco Ltd. now owns 340,479 shares of the company’s stock valued at $2,261,000 after purchasing an additional 165,152 shares during the period. XTX Topco Ltd purchased a new stake in shares of ChargePoint during the 4th quarter valued at approximately $365,000. Millennium Management LLC lifted its stake in shares of ChargePoint by 25.1% during the 4th quarter. Millennium Management LLC now owns 362,839 shares of the company’s stock valued at $2,409,000 after buying an additional 72,826 shares in the last quarter. Finally, Engineers Gate Manager LP boosted its holdings in ChargePoint by 303.5% in the 4th quarter. Engineers Gate Manager LP now owns 63,015 shares of the company’s stock worth $418,000 after buying an additional 47,396 shares during the period. 37.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on ChargePoint from $8.00 to $5.00 and set an “underweight” rating for the company in a report on Thursday, March 5th. The Goldman Sachs Group reissued a “sell” rating and issued a $5.00 price objective on shares of ChargePoint in a research report on Thursday, January 15th. Weiss Ratings restated a “sell (e+)” rating on shares of ChargePoint in a research note on Wednesday, January 21st. UBS Group decreased their target price on ChargePoint from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Finally, B. Riley Financial lowered their target price on ChargePoint from $11.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, March 13th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $9.89.

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.