ChargePoint Holdings, Inc. (NYSE:CHPT) CFO Mansi Khetani Sells 22,038 Shares

ChargePoint Holdings, Inc. (NYSE:CHPT) CFO Mansi Khetani sold 22,038 shares of ChargePoint stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total value of $25,123.32. Following the sale, the chief financial officer now directly owns 1,230,305 shares in the company, valued at approximately $1,402,547.70. This trade represents a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

ChargePoint Stock Performance

Shares of NYSE CHPT opened at $1.16 on Wednesday. The stock’s fifty day simple moving average is $1.22 and its 200 day simple moving average is $1.51. The stock has a market capitalization of $513.12 million, a price-to-earnings ratio of -1.57 and a beta of 1.69. The company has a quick ratio of 1.32, a current ratio of 1.94 and a debt-to-equity ratio of 1.65. ChargePoint Holdings, Inc. has a 52-week low of $1.05 and a 52-week high of $2.68.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a research note on Thursday, December 5th. Evercore ISI reduced their price objective on shares of ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Benchmark reissued a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research note on Wednesday, November 20th. TD Cowen lowered shares of ChargePoint from a “buy” rating to a “hold” rating and reduced their price target for the stock from $3.00 to $2.00 in a research note on Thursday, September 5th. Finally, Capital One Financial upgraded shares of ChargePoint to a “strong-buy” rating in a research note on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ChargePoint has an average rating of “Hold” and an average price target of $2.46.

Institutional Trading of ChargePoint

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new position in shares of ChargePoint in the second quarter worth about $13,007,000. Erste Asset Management GmbH purchased a new stake in shares of ChargePoint in the 3rd quarter valued at approximately $2,570,000. AQR Capital Management LLC acquired a new position in ChargePoint in the 2nd quarter worth approximately $1,310,000. Skandinaviska Enskilda Banken AB publ grew its position in ChargePoint by 62.0% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,623,836 shares of the company’s stock worth $2,452,000 after purchasing an additional 621,536 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in ChargePoint by 60.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,298,289 shares of the company’s stock valued at $1,960,000 after purchasing an additional 487,262 shares during the period. Institutional investors and hedge funds own 37.77% of the company’s stock.

ChargePoint Company Profile

ChargePoint Holdings, Inc, together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in the North America and Europe. The company serves commercial, such as retail, workplace, hospitality, parking, recreation, municipal, education, and highway fast charge; fleet, which include delivery, take home, logistics, motor pool, transit, and shared mobility; and residential including single family homes and multi-family apartments and condominiums customers.