ChargePoint (NYSE:CHPT) CFO Mansi Khetani Sells 3,943 Shares

ChargePoint Holdings, Inc. (NYSE:CHPT) CFO Mansi Khetani sold 3,943 shares of the stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $6.99, for a total value of $27,561.57. Following the sale, the chief financial officer owned 130,363 shares in the company, valued at $911,237.37. The trade was a 2.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

ChargePoint Stock Down 2.7%

CHPT traded down $0.20 during trading on Tuesday, hitting $7.11. The company had a trading volume of 1,002,854 shares, compared to its average volume of 622,462. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 8.38. ChargePoint Holdings, Inc. has a one year low of $6.90 and a one year high of $26.00. The firm’s 50-day moving average price is $9.20 and its 200 day moving average price is $11.10. The company has a market capitalization of $168.03 million, a PE ratio of -0.69 and a beta of 1.43.

ChargePoint (NYSE:CHPT) last posted its earnings results on Thursday, December 4th. The company reported ($2.23) earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $96.51 million. During the same period in the previous year, the firm posted ($1.94) earnings per share. As a group, equities analysts expect that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CHPT shares. UBS Group reaffirmed a “neutral” rating and set a $9.00 price objective (down from $12.00) on shares of ChargePoint in a report on Monday. Weiss Ratings reissued a “sell (e+)” rating on shares of ChargePoint in a research note on Wednesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a research note on Thursday, September 4th. Benchmark cut their target price on ChargePoint from $40.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, September 5th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $10.00 price objective (up from $9.00) on shares of ChargePoint in a research note on Monday, December 8th. One 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. Based on data from MarketBeat, ChargePoint has an average rating of “Reduce” and an average target price of $12.65.

Institutional Trading of ChargePoint

Hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new stake in shares of ChargePoint in the 2nd quarter valued at approximately $27,000. Focus Partners Wealth acquired a new stake in shares of ChargePoint in the first quarter valued at approximately $27,000. Trueblood Wealth Management LLC raised its holdings in shares of ChargePoint by 100.0% in the second quarter. Trueblood Wealth Management LLC now owns 40,000 shares of the company’s stock valued at $28,000 after buying an additional 20,000 shares during the last quarter. Ethic Inc. purchased a new position in shares of ChargePoint in the 2nd quarter valued at approximately $32,000. Finally, 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 acquiring an additional 15,366 shares in the last quarter. Institutional investors and hedge funds own 37.77% of the company’s stock.

ChargePoint Company Profile

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.