Mansi Khetani Sells 26,798 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CFO Mansi Khetani sold 26,798 shares of the business’s stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $0.67, for a total transaction of $17,954.66. Following the transaction, the chief financial officer now directly owns 2,702,180 shares of the company’s stock, valued at approximately $1,810,460.60. This represents a 0.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ChargePoint Stock Up 0.3%

Shares of CHPT opened at $0.72 on Thursday. The company has a 50-day simple moving average of $0.69 and a 200-day simple moving average of $0.80. The firm has a market capitalization of $329.63 million, a P/E ratio of -1.20 and a beta of 2.25. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.12 and a current ratio of 1.82. ChargePoint Holdings, Inc. has a 52 week low of $0.51 and a 52 week high of $2.44.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings results on Wednesday, June 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). ChargePoint had a negative return on equity of 131.65% and a negative net margin of 65.79%. The business had revenue of $97.64 million during the quarter, compared to analyst estimates of $100.43 million. During the same period last year, the company earned ($0.11) EPS. On average, equities research analysts expect that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC raised its position in 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 in the last quarter. Jones Financial Companies Lllp raised its position in ChargePoint by 61.1% in the fourth quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company’s stock worth $48,000 after purchasing an additional 17,075 shares in the last quarter. Swiss National Bank raised its position in ChargePoint by 2.2% in the fourth quarter. Swiss National Bank now owns 806,400 shares of the company’s stock worth $863,000 after purchasing an additional 17,600 shares in the last quarter. MetLife Investment Management LLC raised its position in ChargePoint by 9.8% in the fourth quarter. MetLife Investment Management LLC now owns 251,168 shares of the company’s stock worth $269,000 after purchasing an additional 22,369 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in ChargePoint by 9.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 273,140 shares of the company’s stock worth $293,000 after purchasing an additional 23,370 shares in the last quarter. Institutional investors and hedge funds own 37.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CHPT shares. Evercore ISI lowered shares of ChargePoint from an “outperform” rating to an “in-line” rating and cut their target price for the stock from $4.00 to $1.00 in a research report on Monday, March 31st. UBS Group cut their target price on shares of ChargePoint from $0.70 to $0.65 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $1.00 price objective on shares of ChargePoint in a research report on Thursday, June 5th. Stifel Nicolaus cut their price objective on shares of ChargePoint from $2.00 to $1.00 and set a “hold” rating for the company in a research report on Monday, March 10th. Finally, The Goldman Sachs Group cut their price objective on shares of ChargePoint from $0.75 to $0.50 and set a “sell” rating for the company in a research report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $1.39.

ChargePoint Company Profile

ChargePoint Holdings, Inc, together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in the North America and Europe. The company serves commercial, such as retail, workplace, hospitality, parking, recreation, municipal, education, and highway fast charge; fleet, which include delivery, take home, logistics, motor pool, transit, and shared mobility; and residential including single family homes and multi-family apartments and condominiums customers.