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

ChargePoint Holdings, Inc. (NYSE:CHPT – Get Free Report) CFO Mansi Khetani sold 8,152 shares of ChargePoint 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 owned 179,348 shares in the company, valued at approximately $1,278,751.24. The trade was a 4.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ChargePoint Trading Down 14.2%

NYSE CHPT traded down $1.13 on Tuesday, reaching $6.80. 958,363 shares of the company were exchanged, compared to its average volume of 661,641. 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 business’s fifty day moving average price is $6.92 and its 200 day moving average price is $6.59. The stock has a market capitalization of $166.06 million, a P/E ratio of -0.78 and a beta of 1.74. ChargePoint Holdings, Inc. has a fifty-two week low of $4.44 and a fifty-two week high of $16.20.

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ChargePoint (NYSE:CHPT – Get Free Report) last issued its earnings results on Wednesday, June 3rd. The company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $101.82 million during the quarter, compared to analyst estimates of $95.64 million. Analysts forecast that ChargePoint Holdings, Inc. will post -5.48 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CHPT. Wall Street Zen raised shares of ChargePoint from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $6.50 price target on shares of ChargePoint in a research note on Thursday, June 4th. UBS Group reaffirmed a “neutral” rating and set a $8.00 price target (up from $7.00) on shares of ChargePoint in a research report on Tuesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of ChargePoint in a report on Monday, April 20th. Finally, TD Cowen reiterated 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 analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, ChargePoint currently has a consensus rating of “Reduce” and a consensus target price of $8.31.

Read Our Latest Report on ChargePoint

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its position in shares of ChargePoint by 77.7% during the first quarter. Renaissance Technologies LLC now owns 144,059 shares of the company’s stock worth $700,000 after purchasing an additional 63,000 shares in the last quarter. Hsbc Holdings PLC boosted its position in 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 buying an additional 4,352 shares during the period. R Squared Ltd acquired a new position in shares of ChargePoint in the first quarter worth $59,000. Invesco Ltd. increased its position in shares of ChargePoint by 94.2% during the fourth quarter. Invesco Ltd. now owns 340,479 shares of the company’s stock worth $2,261,000 after acquiring an additional 165,152 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of ChargePoint in the fourth quarter valued at $365,000. Institutional investors and hedge funds own 37.77% of the company’s stock.

About ChargePoint

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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.

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