ChargePoint (NYSE:CHPT) CFO Mansi Khetani Sells 1,302 Shares

Key Points

• Mansi Khetani, CFO of ChargePoint, sold 1,302 shares at an average price of $11.27, reducing her ownership by 0.96% to approximately 134,306 shares valued at about $1.5 million.
• ChargePoint stock recently traded at $11.10, showing a 2% increase, though analysts have lowered the stock's target price significantly from highs of $30.00 to around $10.00.
• Institutional investors and hedge funds currently hold 37.77% of ChargePoint's shares, with notable acquisitions from several firms indicating growing confidence in the company despite recent stock price fluctuations.

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) CFO Mansi Khetani sold 1,302 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $11.27, for a total value of $14,673.54. Following the sale, the chief financial officer directly owned 134,306 shares of the company's stock, valued at approximately $1,513,628.62. This trade represents a 0.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

ChargePoint Stock Up 2.0%

ChargePoint stock traded up $0.22 on Wednesday, hitting $11.10. 380,101 shares of the stock traded hands, compared to its average volume of 506,440. ChargePoint Holdings, Inc. has a 1 year low of $8.55 and a 1 year high of $30.00. The company has a current ratio of 1.67, a quick ratio of 1.00 and a debt-to-equity ratio of 4.38. The business's fifty day simple moving average is $11.03 and its 200 day simple moving average is $12.57. The firm has a market cap of $259.19 million, a P/E ratio of -0.95 and a beta of 2.29.

Wall Street Analyst Weigh In

CHPT has been the topic of several analyst reports. TD Cowen cut their target price on ChargePoint from $30.00 to $11.00 and set a "hold" rating on the stock in a research report on Thursday, September 4th. Royal Bank Of Canada decreased their price target on ChargePoint from $20.00 to $10.00 and set a "sector perform" rating for the company in a research note on Thursday, September 4th. Needham & Company LLC reissued a "hold" rating on shares of ChargePoint in a report on Thursday, September 4th. Benchmark dropped their target price on ChargePoint from $40.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, September 5th. Finally, Roth Capital set a $11.00 price objective on ChargePoint and gave the company a "neutral" rating in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $13.56.

Institutional Investors Weigh In On ChargePoint

A number of institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in ChargePoint during the 4th quarter valued at $268,000. Millennium Management LLC raised its position in ChargePoint by 13,605.0% in the fourth quarter. Millennium Management LLC now owns 2,857,349 shares of the company's stock valued at $3,057,000 after purchasing an additional 2,836,500 shares during the period. Pallas Capital Advisors LLC purchased a new position in ChargePoint in the first quarter valued at about $72,000. Ameriprise Financial Inc. grew its stake in shares of ChargePoint by 213.6% during the fourth quarter. Ameriprise Financial Inc. now owns 57,359 shares of the company's stock valued at $61,000 after acquiring an additional 39,070 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in ChargePoint in the first quarter worth about $109,000. Institutional investors and hedge funds 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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