SoFi CEO enters prepaid forward contract on 1.5 million shares
ChargePoint Holdings, Inc. (NYSE:CHPT) Chief Financial Officer Mansi Khetani recently sold 11,327 shares of the company’s common stock. The transaction, which took place on March 21, was executed at an average price of $0.6539 per share, amounting to a total value of approximately $7,406. The sale comes as ChargePoint’s stock has declined over 60% in the past year, with the company currently valued at approximately $316 million. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value assessment.
The sale was conducted as part of a mandatory "sell to cover" transaction to meet tax withholding obligations associated with the vesting and settlement of restricted stock units. This type of transaction is required by ChargePoint’s equity incentive plans and does not represent a discretionary trade by Khetani. InvestingPro data reveals that while the company operates with moderate debt levels, it maintains a healthy current ratio of 1.93, indicating strong short-term liquidity.
Following the sale, Khetani retains direct ownership of 1,228,978 shares of ChargePoint’s common stock. Notably, this total includes 10,000 shares acquired through the company’s Employee Stock Purchase Plan earlier in March. Investors seeking deeper insights can access comprehensive analysis and 14 additional ProTips through InvestingPro’s detailed research report, which provides essential metrics and expert analysis for informed decision-making.
In other recent news, ChargePoint Holdings Inc. reported its fourth-quarter fiscal year 2025 revenues, surpassing expectations with $102 million, slightly above the consensus estimate of $101.6 million. The company achieved a notable improvement in gross margins, which increased to 28% from 23% in the previous quarter, driven by a rise in software subscription revenues. ChargePoint’s management has set a target to reach adjusted EBITDA profitability by fiscal year 2026, with ongoing cost reduction measures and improved operating leverage contributing to this goal. Analysts from Benchmark maintained a Buy rating with a price target of $3.00, reflecting confidence in ChargePoint’s growth prospects, while Stifel reiterated a Hold rating with a $2.00 target. Additionally, ChargePoint announced the opening of five new ultra-fast EV charging sites in New York in collaboration with the New York State Energy Research and Development Authority. This expansion aims to enhance EV infrastructure, particularly in underserved communities, and aligns with New York State’s environmental goals. ChargePoint ended the quarter with $225 million in cash, up $5 million from the previous quarter, and reported a significant reduction in cash used for operating activities. Looking ahead, the company provided revenue guidance for the first quarter of fiscal 2026, expecting it to be between $95 million and $105 million.
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