Eric Batill Sells 4,979 Shares of ChargePoint (NYSE:CHPT) Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) General Counsel Eric Batill sold 4,979 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $7.13, for a total transaction of $35,500.27. Following the sale, the general counsel owned 143,631 shares in the company, valued at approximately $1,024,089.03. This represents a 3.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ChargePoint Stock Down 17.3%

CHPT opened at $5.62 on Thursday. 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 debt-to-equity ratio of 10.73, a quick ratio of 0.56 and a current ratio of 1.15. The company has a fifty day moving average of $6.92 and a two-hundred day moving average of $6.57. The stock has a market capitalization of $137.14 million, a price-to-earnings ratio of -0.65 and a beta of 1.74.

ChargePoint (NYSE:CHPT) last issued its quarterly earnings data on Wednesday, June 3rd. The company reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $95.64 million. On average, research analysts expect that ChargePoint Holdings, Inc. will post -5.48 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pilgrim Partners Asia Pte Ltd increased its stake in ChargePoint by 56.4% during the 4th quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company’s stock worth $57,000 after buying an additional 3,100 shares in the last quarter. Rothschild Investment LLC lifted its position 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 acquiring an additional 3,500 shares in the last quarter. Hsbc Holdings PLC lifted its position 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. BNP Paribas Financial Markets boosted its stake in shares of ChargePoint by 26.8% in the third quarter. BNP Paribas Financial Markets now owns 43,534 shares of the company’s stock worth $475,000 after acquiring an additional 9,208 shares during the last quarter. Finally, EFG International AG acquired a new stake in shares of ChargePoint in the fourth quarter worth approximately $72,000. 37.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a research report on Thursday, June 4th. B. Riley Financial cut their price objective on ChargePoint from $11.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, March 13th. 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 research note on Thursday, March 5th. Wall Street Zen upgraded ChargePoint from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of ChargePoint in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, ChargePoint has a consensus rating of “Reduce” and an average price target 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.