Mansi Khetani Sells 8,152 Shares of ChargePoint (NYSE:CHPT) Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CFO Mansi Khetani sold 8,152 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $7.13, for a total value of $58,123.76. Following the transaction, the chief financial officer directly owned 179,348 shares in the company, valued at approximately $1,278,751.24. This trade represents a 4.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ChargePoint Stock Performance

NYSE CHPT opened at $5.62 on Thursday. The firm’s 50 day simple moving average is $6.92 and its 200 day simple moving average is $6.57. The firm has a market capitalization of $137.14 million, a price-to-earnings ratio of -0.65 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. ChargePoint Holdings, Inc. has a 1 year low of $4.44 and a 1 year high of $16.20.

ChargePoint (NYSE:CHPT) last released its earnings results on Wednesday, June 3rd. The company reported ($1.75) earnings per share 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 for the quarter, compared to the consensus estimate of $95.64 million. As a group, research analysts expect that ChargePoint Holdings, Inc. will post -5.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on CHPT shares. Weiss Ratings restated a “sell (e+)” rating on shares of ChargePoint in a research report on Monday, April 20th. TD Cowen restated a “hold” rating and set a $7.50 price target (up from $7.00) on shares of ChargePoint in a report on Wednesday, June 17th. B. Riley Financial lowered their price objective on shares of ChargePoint from $11.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday, March 13th. Wall Street Zen raised shares of ChargePoint from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, JPMorgan Chase & Co. reduced their price target on shares of ChargePoint from $8.00 to $5.00 and set an “underweight” rating for the company in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, ChargePoint presently has a consensus rating of “Reduce” and an average target price of $8.31.

Hedge Funds Weigh In On ChargePoint

Institutional investors and hedge funds have recently bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd raised its position in shares of ChargePoint by 56.4% in the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company’s stock worth $57,000 after buying an additional 3,100 shares in the last quarter. Rothschild Investment LLC increased its stake in ChargePoint by 233.3% in the 4th quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock worth $33,000 after acquiring an additional 3,500 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of ChargePoint by 40.0% in the 1st quarter. Hsbc Holdings PLC now owns 15,220 shares of the company’s stock valued at $75,000 after acquiring an additional 4,352 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of ChargePoint by 26.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 43,534 shares of the company’s stock valued at $475,000 after acquiring an additional 9,208 shares in the last quarter. Finally, EFG International AG bought a new stake in shares of ChargePoint during the 4th quarter valued at about $72,000. 37.77% of the stock is owned by institutional investors.

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.