ChargePoint (NYSE:CHPT) General Counsel Eric Batill Sells 4,302 Shares

ChargePoint Holdings, Inc. (NYSE:CHPT) General Counsel Eric Batill sold 4,302 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $9.86, for a total transaction of $42,417.72. Following the completion of the sale, the general counsel directly owned 139,329 shares in the company, valued at approximately $1,373,783.94. The trade was a 3.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ChargePoint Price Performance

Shares of NYSE CHPT traded up $0.44 during trading hours on Tuesday, hitting $9.85. 1,804,758 shares of the stock were exchanged, compared to its average volume of 4,109,930. The company has a market cap of $264.39 million, a PE ratio of -1.37 and a beta of 1.77. The company has a debt-to-equity ratio of 10.73, a quick ratio of 0.57 and a current ratio of 1.07. The company’s fifty day simple moving average is $6.77 and its two-hundred day simple moving average is $6.43. ChargePoint Holdings, Inc. has a 1-year low of $4.44 and a 1-year high of $12.61.

ChargePoint (NYSE:CHPT) last announced its earnings results on Wednesday, September 2nd. The company reported ($1.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.57) by $0.22. The business had revenue of $116.08 million during the quarter, compared to the consensus estimate of $105.21 million. ChargePoint had a negative net margin of 40.59% and a negative return on equity of 3,366.29%. On average, sell-side analysts predict that ChargePoint Holdings, Inc. will post -3.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CHPT shares. Oppenheimer reissued a “market perform” rating on shares of ChargePoint in a research note on Thursday, September 3rd. TD Cowen reaffirmed a “hold” rating on shares of ChargePoint in a report on Thursday, September 3rd. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $6.50 target price on shares of ChargePoint in a report on Thursday, June 4th. B. Riley Financial reissued a “neutral” rating on shares of ChargePoint in a research note on Friday, September 4th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ChargePoint in a research report on Friday, July 17th. Seven analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, ChargePoint has a consensus rating of “Reduce” and a consensus price target of $7.07.

Hedge Funds Weigh In On ChargePoint

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC grew its position in ChargePoint by 70.8% in the second quarter. Squarepoint Ops LLC now owns 25,242 shares of the company’s stock valued at $149,000 after acquiring an additional 10,464 shares during the period. Bank of New York Mellon Corp bought a new stake in ChargePoint during the second quarter worth $344,000. Renaissance Technologies LLC boosted its position in ChargePoint by 77.7% during the first quarter. Renaissance Technologies LLC now owns 144,059 shares of the company’s stock worth $700,000 after purchasing an additional 63,000 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of ChargePoint by 40.0% during the first quarter. Hsbc Holdings PLC now owns 15,220 shares of the company’s stock worth $75,000 after buying an additional 4,352 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of ChargePoint in the 1st quarter valued at approximately $59,000. Institutional investors and hedge funds own 37.77% of the company’s stock.

About ChargePoint

ChargePoint Holdings, Inc operates an electric vehicle (EV) charging network and provides charging hardware, software and related services. Its platform is designed to support drivers, businesses, fleet operators, property owners and other organizations managing EV charging infrastructure.

The company offers Level 2 and DC fast-charging stations, cloud-based software for monitoring and managing charging activity, payment and access tools, and services such as installation, maintenance and customer support.