ChargePoint Holdings, Inc. (NYSE:CHPT) CFO Mansi Khetani Sells 26,798 Shares

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) CFO Mansi Khetani sold 26,798 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $0.67, for a total transaction of $17,954.66. Following the transaction, the chief financial officer now owns 2,702,180 shares of the company's stock, valued at $1,810,460.60. The trade was a 0.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

ChargePoint Stock Up 4.9%

Shares of NYSE CHPT traded up $0.03 during trading hours on Tuesday, hitting $0.72. The company had a trading volume of 11,500,029 shares, compared to its average volume of 17,471,305. The company has a current ratio of 1.82, a quick ratio of 1.12 and a debt-to-equity ratio of 2.60. ChargePoint Holdings, Inc. has a 1-year low of $0.51 and a 1-year high of $2.44. The firm's 50 day moving average is $0.68 and its 200-day moving average is $0.81.

ChargePoint (NYSE:CHPT - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). ChargePoint had a negative net margin of 65.79% and a negative return on equity of 131.65%. The business had revenue of $97.64 million during the quarter, compared to the consensus estimate of $100.43 million. During the same quarter last year, the company posted ($0.11) EPS. Analysts predict that ChargePoint Holdings, Inc. will post -0.57 EPS for the current year.

Analyst Ratings Changes

CHPT has been the topic of several analyst reports. The Goldman Sachs Group cut their price target on shares of ChargePoint from $0.75 to $0.50 and set a "sell" rating on the stock in a research report on Thursday, April 10th. Stifel Nicolaus cut their price target on shares of ChargePoint from $2.00 to $1.00 and set a "hold" rating on the stock in a research report on Monday, March 10th. Royal Bank Of Canada reissued a "sector perform" rating and set a $1.00 price target on shares of ChargePoint in a research report on Thursday, June 5th. Evercore ISI cut shares of ChargePoint from an "outperform" rating to an "in-line" rating and cut their price target for the stock from $4.00 to $1.00 in a research report on Monday, March 31st. Finally, Needham & Company LLC reissued a "hold" rating on shares of ChargePoint in a report on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $1.39.

Institutional Investors Weigh In On ChargePoint

A number of large investors have recently added to or reduced their stakes in CHPT. Geode Capital Management LLC increased its position in ChargePoint by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 9,276,632 shares of the company's stock worth $9,929,000 after buying an additional 204,464 shares during the period. Toronto Dominion Bank bought a new position in ChargePoint during the 4th quarter worth $8,746,000. Invesco Ltd. increased its position in ChargePoint by 13.1% during the 4th quarter. Invesco Ltd. now owns 5,029,849 shares of the company's stock worth $5,382,000 after buying an additional 583,761 shares during the period. Goldman Sachs Group Inc. increased its position in ChargePoint by 61.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,790,823 shares of the company's stock worth $2,293,000 after buying an additional 1,448,114 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in ChargePoint by 2.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,423,298 shares of the company's stock worth $2,071,000 after buying an additional 86,753 shares during the period. Institutional investors own 37.77% of the company's stock.

About ChargePoint

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.

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