Insider Selling: ChargePoint Holdings, Inc. (NYSE:CHPT) CFO Sells $25,123.32 in Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CFO Mansi Khetani sold 22,038 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 1,230,305 shares in the company, valued at approximately $1,402,547.70. This represents a 1.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

ChargePoint Stock Up 2.7 %

ChargePoint stock opened at $1.16 on Thursday. The firm has a market cap of $513.12 million, a price-to-earnings ratio of -1.57 and a beta of 1.69. ChargePoint Holdings, Inc. has a 52-week low of $1.05 and a 52-week high of $2.68. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.32 and a current ratio of 1.94. The firm has a 50 day moving average price of $1.21 and a two-hundred day moving average price of $1.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. acquired a new stake in ChargePoint in the 3rd quarter valued at $117,000. Geode Capital Management LLC raised its holdings in shares of ChargePoint by 4.6% in the third quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company’s stock valued at $12,432,000 after purchasing an additional 399,070 shares during the last quarter. XTX Topco Ltd lifted its position in shares of ChargePoint by 1,141.0% during the third quarter. XTX Topco Ltd now owns 308,786 shares of the company’s stock valued at $423,000 after purchasing an additional 283,904 shares in the last quarter. State Street Corp boosted its holdings in ChargePoint by 1.4% during the third quarter. State Street Corp now owns 10,297,421 shares of the company’s stock worth $14,107,000 after purchasing an additional 142,767 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of ChargePoint by 15.5% in the 3rd quarter. Stifel Financial Corp now owns 2,055,211 shares of the company’s stock worth $2,816,000 after buying an additional 275,653 shares during the last quarter. 37.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CHPT has been the topic of a number of recent analyst reports. TD Cowen cut ChargePoint from a “buy” rating to a “hold” rating and decreased their target price for the company from $3.00 to $2.00 in a research report on Thursday, September 5th. Evercore ISI lowered their price objective on shares of ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. UBS Group cut their target price on shares of ChargePoint from $1.50 to $1.30 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a report on Thursday, December 5th. Finally, Capital One Financial upgraded ChargePoint to a “strong-buy” rating in a research report on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock 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.