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 dated Monday, December 23rd. The stock was 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 of the company’s stock, valued at $1,402,547.70. This trade represents a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

ChargePoint Price Performance

CHPT traded down $0.11 during midday trading on Monday, hitting $1.13. 25,534,674 shares of the company traded hands, compared to its average volume of 13,939,353. The business has a 50 day simple moving average of $1.23 and a two-hundred day simple moving average of $1.52. ChargePoint Holdings, Inc. has a 52-week low of $1.05 and a 52-week high of $2.68. The company has a market capitalization of $499.85 million, a price-to-earnings ratio of -1.53 and a beta of 1.69. The company has a current ratio of 1.94, a quick ratio of 1.32 and a debt-to-equity ratio of 1.65.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. CIBC Asset Management Inc increased its stake in ChargePoint by 50.7% during the 2nd quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock worth $26,000 after buying an additional 5,770 shares in the last quarter. Financial Advocates Investment Management acquired a new stake in shares of ChargePoint in the third quarter worth approximately $29,000. Delap Wealth Advisory LLC purchased a new stake in shares of ChargePoint during the second quarter worth approximately $31,000. Perennial Investment Advisors LLC raised its stake in ChargePoint by 74.4% in the 2nd quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company’s stock valued at $37,000 after purchasing an additional 10,400 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in ChargePoint by 152.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,462 shares of the company’s stock valued at $38,000 after purchasing an additional 15,358 shares in the last quarter. 37.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. JPMorgan Chase & Co. downgraded shares of ChargePoint from an “overweight” rating to an “underweight” rating in a report on Thursday, October 3rd. Wolfe Research began coverage on ChargePoint in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. TD Cowen cut ChargePoint from a “buy” rating to a “hold” rating and decreased their price objective for the company from $3.00 to $2.00 in a report on Thursday, September 5th. The Goldman Sachs Group dropped their target price on ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a report on Friday, September 6th. Finally, Evercore ISI decreased their price target on ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.46.

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.