Key Points
- ChargePoint General Counsel Eric Batill sold 2,976 shares on Dec. 23 at an average price of $6.98 for $20,772.48, reducing his stake by 3.53% to 81,305 shares (≈$567,509).
- Clustered insider selling: Multiple insiders (including the CFO and other officers) filed sales on Dec. 23, a pattern that can weigh on investor sentiment even if the sales are for personal or liquidity reasons.
- Shares trade near $7 (one‑year low $6.90, high $26.00); the company has negative earnings and a MarketBeat consensus of "Reduce" as several analysts have lowered price targets (many around $9 or below).
ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) General Counsel Eric Batill sold 2,976 shares of the company's stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $6.98, for a total transaction of $20,772.48. Following the sale, the general counsel directly owned 81,305 shares of the company's stock, valued at approximately $567,508.90. This trade represents a 3.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
ChargePoint Stock Performance
NYSE CHPT opened at $7.11 on Wednesday. The firm's 50 day simple moving average is $9.20 and its 200 day simple moving average is $11.10. The firm has a market capitalization of $168.03 million, a price-to-earnings 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 - Get Free Report) last released its earnings results on Thursday, December 4th. The company reported ($2.23) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $96.51 million. During the same quarter in the previous year, the company earned ($1.94) earnings per share. As a group, research analysts expect that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current fiscal year.
Institutional Trading of ChargePoint
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHPT. AQR Capital Management LLC boosted its stake in shares of ChargePoint by 6,429.1% in the 1st quarter. AQR Capital Management LLC now owns 2,679,217 shares of the company's stock valued at $1,553,000 after purchasing an additional 2,638,182 shares during the last quarter. GMT Capital Corp acquired a new position in ChargePoint in the first quarter valued at $1,226,000. Goldman Sachs Group Inc. boosted its position in ChargePoint by 61.8% during the first quarter. Goldman Sachs Group Inc. now owns 3,790,823 shares of the company's stock valued at $2,293,000 after acquiring an additional 1,448,114 shares during the last quarter. Nuveen LLC bought a new stake in ChargePoint during the first quarter valued at $759,000. Finally, Soviero Asset Management LP acquired a new stake in ChargePoint during the 2nd quarter worth about $633,000. Institutional investors and hedge funds own 37.77% of the company's stock.
Key Stores Impacting 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)
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on CHPT. Benchmark decreased their target price on shares of ChargePoint from $40.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, September 5th. Needham & Company LLC reissued a "hold" rating on shares of ChargePoint in a research note on Thursday, September 4th. Royal Bank Of Canada restated a "sector perform" rating and set a $9.00 price target (down from $10.00) on shares of ChargePoint in a report on Friday, December 5th. JPMorgan Chase & Co. dropped their price objective on shares of ChargePoint from $9.00 to $8.00 and set an "underweight" 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 from $12.00) on shares of ChargePoint in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, ChargePoint currently has a consensus rating of "Reduce" and an average target price of $12.65.
Check Out Our Latest Research Report on CHPT
About ChargePoint
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
