ChargePoint (NYSE:CHPT) General Counsel Eric Batill Sells 2,976 Shares of Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) General Counsel Eric Batill sold 2,976 shares of ChargePoint stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $6.98, for a total transaction of $20,772.48. Following the completion of the transaction, the general counsel directly owned 81,305 shares in the company, valued at approximately $567,508.90. The trade was a 3.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

ChargePoint Price Performance

Shares of NYSE CHPT opened at $7.11 on Wednesday. The company has a fifty day moving average price of $9.20 and a 200 day moving average price of $11.10. The firm has a market cap of $168.03 million, a PE ratio of -0.69 and a beta of 1.43. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of 8.38. ChargePoint Holdings, Inc. has a 1-year low of $6.90 and a 1-year high of $26.00.

ChargePoint (NYSE:CHPT) last issued its quarterly earnings results on Thursday, December 4th. The company reported ($2.23) EPS for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.88). The firm had revenue of $105.67 million during the quarter, compared to the consensus estimate of $96.51 million. ChargePoint had a negative net margin of 59.54% and a negative return on equity of 209.46%. During the same quarter last year, the firm earned ($1.94) earnings per share. Research analysts predict that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CHPT shares. The Goldman Sachs Group reissued a “sell” rating and issued a $10.00 price objective (up previously from $9.00) on shares of ChargePoint in a research report on Monday, December 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ChargePoint in a research note on Wednesday, October 8th. Roth Capital set a $8.50 price objective on shares of ChargePoint and gave the stock a “neutral” rating in a research note on Friday, December 5th. TD Cowen decreased their price objective on ChargePoint from $30.00 to $11.00 and set a “hold” rating for the company in a report on Thursday, September 4th. Finally, UBS Group reiterated a “neutral” rating and set a $9.00 target price (down previously from $12.00) on shares of ChargePoint in a report on Monday. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $12.65.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new stake in ChargePoint during the second quarter worth approximately $27,000. Focus Partners Wealth bought a new stake in shares of ChargePoint during the 1st quarter valued at $27,000. Trueblood Wealth Management LLC grew its holdings in shares of ChargePoint by 100.0% during the 2nd quarter. Trueblood Wealth Management LLC now owns 40,000 shares of the company’s stock worth $28,000 after purchasing an additional 20,000 shares in the last quarter. Ethic Inc. acquired a new stake in shares of ChargePoint during the 2nd quarter worth $32,000. Finally, Hsbc Holdings PLC increased its position in shares of ChargePoint by 31.2% in the first quarter. Hsbc Holdings PLC now owns 64,567 shares of the company’s stock worth $38,000 after purchasing an additional 15,366 shares during the period. 37.77% of the stock is owned by institutional investors.

Trending Headlines about ChargePoint

Here are the key news stories impacting ChargePoint this week:

• Neutral Sentiment: UBS kept a Neutral rating on CHPT, signaling no upgrade catalyst from that firm and limiting upside momentum. UBS maintains CHPT neutral
• Neutral Sentiment: Industry/idea coverage still includes CHPT among EV names positioned to benefit from electrification, which provides thematic support but not immediate stock upside. Zacks EV list
• Negative Sentiment: UBS lowered its price target for CHPT to $9 (from $12), cutting analyst upside and likely pressuring sentiment. UBS price target cut
• Negative Sentiment: RBC Capital reduced its price target (from $10 to $9) and kept a Sector Perform rating, another sign of limited near‑term upside from sell‑side coverage. RBC price target cut
• Negative Sentiment: Multiple insider sales were filed on Dec 23: CFO Mansi Khetani (~3,943 shares), General Counsel Eric Batill (~2,976 shares), Jagdeep Ca Singh (~4,832 shares) and John David Vice (~919 shares). Large, clustered insider selling can be viewed negatively by investors even if sales are for personal/liquidity reasons. (SEC filings available in each Form 4). Example SEC filing (CFO)

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.