Insider Selling: ChargePoint (NYSE:CHPT) Insider Sells $33,775.68 in Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) insider Jagdeep Ca Singh sold 4,832 shares of ChargePoint stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $6.99, for a total transaction of $33,775.68. Following the completion of the transaction, the insider directly owned 124,627 shares in the company, valued at approximately $871,142.73. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

ChargePoint Stock Down 2.7%

CHPT stock traded down $0.20 on Tuesday, reaching $7.11. 1,002,854 shares of the company traded hands, compared to its average volume of 622,462. The company has a debt-to-equity ratio of 8.38, a current ratio of 1.59 and a quick ratio of 0.93. The firm has a fifty day simple moving average of $9.20 and a 200-day simple moving average of $11.10. ChargePoint Holdings, Inc. has a one year low of $6.90 and a one year high of $26.00. The company has a market cap of $168.03 million, a P/E ratio of -0.69 and a beta of 1.43.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CHPT. BNP Paribas Financial Markets lifted its stake in ChargePoint by 26.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 43,534 shares of the company’s stock worth $475,000 after purchasing an additional 9,208 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of ChargePoint during the third quarter valued at about $600,000. Pilgrim Partners Asia Pte Ltd purchased a new position in ChargePoint during the 3rd quarter worth approximately $60,000. Sullivan Wood Capital Management LLC purchased a new stake in ChargePoint during the third quarter worth $355,000. Finally, Corient Private Wealth LLC lifted its stake in ChargePoint by 57.1% in the 2nd quarter. Corient Private Wealth LLC now owns 67,345 shares of the company’s stock valued at $47,000 after buying an additional 24,470 shares in the last quarter. 37.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CHPT shares. Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a report on Thursday, September 4th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $9.00 target price (down previously from $10.00) on shares of ChargePoint in a report on Friday, December 5th. UBS Group reiterated a “neutral” rating and set a $9.00 price objective (down previously from $12.00) on shares of ChargePoint in a research note on Monday. Benchmark decreased their target price on shares of ChargePoint from $40.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, September 5th. Finally, B. Riley decreased their price target on ChargePoint from $12.50 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 10th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $12.65.

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.