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

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

ChargePoint Stock Down 14.2%

Shares of NYSE:CHPT opened at $6.80 on Wednesday. The company has a debt-to-equity ratio of 10.73, a quick ratio of 0.56 and a current ratio of 1.15. ChargePoint Holdings, Inc. has a 1 year low of $4.44 and a 1 year high of $16.20. The stock has a market capitalization of $166.03 million, a P/E ratio of -0.78 and a beta of 1.74. The stock has a 50-day simple moving average of $6.92 and a 200-day simple moving average of $6.59.

ChargePoint (NYSE:CHPT) last posted 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 business had revenue of $101.82 million for the quarter, compared to analyst estimates of $95.64 million. Equities analysts forecast that ChargePoint Holdings, Inc. will post -5.48 earnings per share for the current year.

Institutional Trading of ChargePoint

Several large investors have recently bought and sold shares of CHPT. Goldman Sachs Group Inc. raised its stake in shares of 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 purchasing an additional 1,448,114 shares during the period. AQR Capital Management LLC grew its holdings in ChargePoint by 6,429.1% during 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 in the last quarter. Invesco Ltd. grew its holdings in ChargePoint by 18.4% during the 2nd quarter. Invesco Ltd. now owns 2,483,139 shares of the company’s stock valued at $1,746,000 after purchasing an additional 385,258 shares in the last quarter. Bank of America Corp DE increased its stake in ChargePoint by 5.3% during the 2nd quarter. Bank of America Corp DE now owns 773,162 shares of the company’s stock worth $544,000 after buying an additional 38,667 shares during the period. Finally, Brevan Howard Capital Management LP purchased a new stake in ChargePoint during the 2nd quarter worth $517,000. Institutional investors and hedge funds own 37.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CHPT. Royal Bank Of Canada reissued a “sector perform” rating and issued a $6.50 target price on shares of ChargePoint in a research note on Thursday, June 4th. JPMorgan Chase & Co. decreased their price target on shares of ChargePoint from $8.00 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, March 5th. UBS Group reiterated a “neutral” rating and issued a $8.00 price target (up from $7.00) on shares of ChargePoint in a report on Tuesday. TD Cowen reissued 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. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of ChargePoint in a research note on Monday, April 20th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $8.31.

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.