Mansi Khetani Sells 23,409 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) Stock

ChargePoint Holdings, Inc. (NYSE:CHPT) CFO Mansi Khetani sold 23,409 shares of ChargePoint stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $1.35, for a total value of $31,602.15. Following the completion of the transaction, the chief financial officer now directly owns 849,084 shares of the company’s stock, valued at $1,146,263.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ChargePoint Stock Up 0.7 %

Shares of NYSE CHPT opened at $1.37 on Friday. The firm has a 50 day moving average price of $1.70 and a 200 day moving average price of $1.70. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.32 and a current ratio of 2.03. The stock has a market cap of $591.26 million, a P/E ratio of -1.16 and a beta of 1.70. ChargePoint Holdings, Inc. has a 52-week low of $1.21 and a 52-week high of $5.18.

Hedge Funds Weigh In On ChargePoint

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in ChargePoint during the 2nd quarter worth $138,000. Point72 Asset Management L.P. bought a new stake in shares of ChargePoint in the second quarter worth about $13,007,000. Creative Planning raised its position in shares of ChargePoint by 152.3% during the second quarter. Creative Planning now owns 188,363 shares of the company’s stock worth $284,000 after purchasing an additional 113,699 shares during the period. Algert Global LLC bought a new position in shares of ChargePoint during the 2nd quarter valued at about $58,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of ChargePoint in the 2nd quarter valued at approximately $231,000. Institutional investors and hedge funds own 37.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CHPT. Benchmark reaffirmed a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a research note on Thursday, September 5th. The Goldman Sachs Group dropped their price objective on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a research report on Friday, September 6th. TD Cowen lowered 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 research report on Thursday, September 5th. Capital One Financial upgraded ChargePoint to a “strong-buy” rating in a research report on Tuesday, September 17th. Finally, B. Riley upgraded ChargePoint to a “hold” rating in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ChargePoint currently has an average rating of “Hold” and an average target price of $3.39.

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.