River Global Investors LLP Buys 104,486 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

River Global Investors LLP grew its position in ChargePoint Holdings, Inc. (NYSE:CHPT) by 198.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 157,242 shares of the company’s stock after acquiring an additional 104,486 shares during the quarter. River Global Investors LLP’s holdings in ChargePoint were worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in CHPT. TCG Advisory Services LLC purchased a new stake in ChargePoint in the fourth quarter valued at approximately $33,000. M&T Bank Corp raised its position in shares of ChargePoint by 484.7% during the 4th quarter. M&T Bank Corp now owns 73,396 shares of the company’s stock valued at $172,000 after buying an additional 60,843 shares during the period. Victory Capital Management Inc. boosted its position in shares of ChargePoint by 30.9% during the 4th quarter. Victory Capital Management Inc. now owns 38,112 shares of the company’s stock worth $89,000 after purchasing an additional 8,992 shares during the period. MGO Private Wealth LLC acquired a new position in ChargePoint in the 4th quarter valued at about $36,000. Finally, Core Wealth Management Inc. boosted its holdings in ChargePoint by 46.8% in the fourth quarter. Core Wealth Management Inc. now owns 20,015 shares of the company’s stock valued at $47,000 after purchasing an additional 6,380 shares during the period. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on CHPT. Needham & Company LLC reiterated a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research note on Thursday, April 4th. The Goldman Sachs Group reissued a “sell” rating and issued a $1.50 price objective (down from $2.00) on shares of ChargePoint in a research report on Tuesday, April 9th. Oppenheimer restated a “market perform” rating on shares of ChargePoint in a report on Wednesday, March 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price objective (down previously from $3.50) on shares of ChargePoint in a research report on Wednesday, March 6th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $4.00 price objective on shares of ChargePoint in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.46.

Insider Transactions at ChargePoint

In other ChargePoint news, Director Michael Linse sold 100,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $1.94, for a total transaction of $194,000.00. Following the completion of the transaction, the director now owns 1,209,867 shares of the company’s stock, valued at approximately $2,347,141.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Michael Linse sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $1.94, for a total transaction of $194,000.00. Following the completion of the sale, the director now directly owns 1,209,867 shares of the company’s stock, valued at approximately $2,347,141.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard Wilmer sold 25,376 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $47,453.12. Following the transaction, the chief executive officer now owns 2,359,462 shares in the company, valued at $4,412,193.94. The disclosure for this sale can be found here. Insiders sold 154,846 shares of company stock worth $296,562 in the last three months. Corporate insiders own 12.90% of the company’s stock.

ChargePoint Trading Up 4.0 %

Shares of NYSE:CHPT traded up $0.07 on Monday, hitting $1.73. The company had a trading volume of 10,740,648 shares, compared to its average volume of 13,975,396. ChargePoint Holdings, Inc. has a 1 year low of $1.21 and a 1 year high of $10.10. The firm has a market capitalization of $721.98 million, a price-to-earnings ratio of -1.35 and a beta of 1.69. The firm’s 50-day simple moving average is $1.71 and its two-hundred day simple moving average is $2.08. The company has a quick ratio of 1.65, a current ratio of 2.25 and a debt-to-equity ratio of 0.87.

ChargePoint (NYSE:CHPT) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.01. The company had revenue of $115.83 million for the quarter, compared to analysts’ expectations of $126.48 million. ChargePoint had a negative return on equity of 125.19% and a negative net margin of 90.32%. Equities analysts anticipate that ChargePoint Holdings, Inc. will post -0.63 earnings per share for the current fiscal year.

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.