ChargePoint (NYSE:CHPT) CFO Sells $58,123.76 in Stock

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

ChargePoint Stock Down 5.1%

CHPT stock opened at $5.29 on Friday. The firm has a 50 day moving average of $6.90 and a 200 day moving average of $6.53. The stock has a market capitalization of $129.30 million, a PE ratio of -0.61 and a beta of 1.74. The company has a quick ratio of 0.56, a current ratio of 1.15 and a debt-to-equity ratio of 10.73. ChargePoint Holdings, Inc. has a 52 week low of $4.44 and a 52 week high of $16.20.

ChargePoint (NYSE:CHPT) last issued its quarterly 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). The company had revenue of $101.82 million for the quarter, compared to analyst estimates of $95.64 million. ChargePoint had a negative net margin of 49.66% and a negative return on equity of 504.42%. Sell-side analysts forecast that ChargePoint Holdings, Inc. will post -5.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CHPT. Wall Street Zen raised ChargePoint from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ChargePoint in a research note on Monday, April 20th. TD Cowen reissued a “hold” rating and issued a $7.50 price objective (up from $7.00) on shares of ChargePoint in a report on Wednesday, June 17th. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $6.50 target price on shares of ChargePoint in a report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ChargePoint presently has an average rating of “Reduce” and a consensus target price of $8.31.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pilgrim Partners Asia Pte Ltd boosted its holdings in ChargePoint by 56.4% in the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company’s stock valued at $57,000 after purchasing an additional 3,100 shares during the last quarter. Rothschild Investment LLC lifted its holdings in shares of ChargePoint by 233.3% in the 4th quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock valued at $33,000 after buying an additional 3,500 shares during the period. Hsbc Holdings PLC lifted 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 buying an additional 4,352 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of ChargePoint by 26.8% in the third quarter. BNP Paribas Financial Markets now owns 43,534 shares of the company’s stock worth $475,000 after buying an additional 9,208 shares during the last quarter. Finally, EFG International AG purchased a new stake in shares of ChargePoint in the fourth quarter worth about $72,000. 37.77% of the stock is currently owned by institutional investors and hedge funds.

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.