Insider Selling: ChargePoint (NYSE:CHPT) CFO Sells $27,561.57 in Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CFO Mansi Khetani sold 3,943 shares of ChargePoint stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $6.99, for a total transaction of $27,561.57. Following the completion of the transaction, the chief financial officer directly owned 130,363 shares of the company’s stock, valued at $911,237.37. This trade represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

ChargePoint Price Performance

CHPT opened at $7.12 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 8.38. The company’s 50-day moving average price is $9.03 and its 200 day moving average price is $11.00. ChargePoint Holdings, Inc. has a fifty-two week low of $6.90 and a fifty-two week high of $26.00. The firm has a market cap of $168.39 million, a price-to-earnings ratio of -0.69 and a beta of 1.43.

ChargePoint (NYSE:CHPT) last issued its earnings results on Thursday, December 4th. The company reported ($2.23) EPS for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.88). The company had revenue of $105.67 million during the quarter, compared to analyst estimates of $96.51 million. ChargePoint had a negative net margin of 59.54% and a negative return on equity of 209.46%. During the same quarter in the previous year, the firm earned ($1.94) earnings per share. As a group, sell-side analysts expect that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current year.

Institutional Trading of ChargePoint

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of ChargePoint in the 3rd quarter worth approximately $60,000. BNP Paribas Financial Markets raised its holdings in ChargePoint by 26.8% during the third quarter. BNP Paribas Financial Markets now owns 43,534 shares of the company’s stock worth $475,000 after purchasing an additional 9,208 shares in the last quarter. Hsbc Holdings PLC raised its holdings in ChargePoint by 31.2% during the first quarter. Hsbc Holdings PLC now owns 64,567 shares of the company’s stock worth $38,000 after purchasing an additional 15,366 shares in the last quarter. Trueblood Wealth Management LLC lifted its position in ChargePoint by 100.0% in the second quarter. Trueblood Wealth Management LLC now owns 40,000 shares of the company’s stock worth $28,000 after purchasing an additional 20,000 shares during the period. Finally, Corient Private Wealth LLC boosted its stake in ChargePoint by 57.1% during the 2nd quarter. Corient Private Wealth LLC now owns 67,345 shares of the company’s stock valued at $47,000 after purchasing an additional 24,470 shares in the last quarter. 37.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CHPT shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of ChargePoint in a research note on Wednesday, October 8th. JPMorgan Chase & Co. cut their price objective on shares of ChargePoint from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Thursday, September 4th. Roth Capital set a $8.50 target price on shares of ChargePoint and gave the stock a “neutral” rating in a research report on Friday, December 5th. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a research note on Thursday, September 4th. Finally, B. Riley reduced their price objective on ChargePoint from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, December 10th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $12.65.

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.