John David Vice Sells 4,072 Shares of ChargePoint (NYSE:CHPT) Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) insider John David Vice sold 4,072 shares of ChargePoint stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $7.13, for a total transaction of $29,033.36. Following the completion of the transaction, the insider owned 171,507 shares of the company’s stock, valued at $1,222,844.91. The trade was a 2.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ChargePoint Stock Performance

Shares of NYSE CHPT traded down $1.13 during midday trading on Tuesday, hitting $6.80. The company’s stock had a trading volume of 958,363 shares, compared to its average volume of 661,641. The firm has a market capitalization of $166.06 million, a price-to-earnings ratio of -0.78 and a beta of 1.74. The company has a current ratio of 1.15, a quick ratio of 0.56 and a debt-to-equity ratio of 10.73. The stock has a fifty day moving average price of $6.92 and a 200 day moving average price of $6.59. ChargePoint Holdings, Inc. has a one year low of $4.44 and a one year high of $16.20.

ChargePoint (NYSE:CHPT) last released its quarterly earnings data on Wednesday, June 3rd. The company reported ($1.75) EPS for the quarter, missing the consensus estimate 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 business had revenue of $101.82 million during the quarter, compared to the consensus estimate of $95.64 million. On average, research analysts forecast that ChargePoint Holdings, Inc. will post -5.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CHPT shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of ChargePoint in a research report on Monday, April 20th. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a research note on Thursday, June 4th. B. Riley Financial reduced their target price on ChargePoint from $11.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, March 13th. UBS Group reissued a “neutral” rating and issued a $8.00 price target (up from $7.00) on shares of ChargePoint in a report on Tuesday. Finally, TD Cowen restated a “hold” rating and issued a $7.50 price objective (up from $7.00) on shares of ChargePoint in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $8.31.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its stake in ChargePoint by 12,808.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 237,906 shares of the company’s stock valued at $1,580,000 after buying an additional 236,063 shares during the period. Pilgrim Partners Asia Pte Ltd increased its stake in ChargePoint by 56.4% in the 4th quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company’s stock worth $57,000 after acquiring an additional 3,100 shares during the last quarter. Hsbc Holdings PLC bought a new position in ChargePoint in the 4th quarter worth about $73,000. Hudson Bay Capital Management LP purchased a new stake in shares of ChargePoint in the 2nd quarter valued at about $72,000. Finally, EFG International AG bought a new stake in shares of ChargePoint during the 4th quarter valued at about $72,000. Institutional investors own 37.77% of the company’s stock.

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.