ChargePoint Holdings, Inc. (NYSE:CHPT) Shares Acquired by River Global Investors LLP

River Global Investors LLP increased its position in ChargePoint Holdings, Inc. (NYSE:CHPT) by 198.1% in the fourth quarter, Holdings Channel reports. The firm owned 157,242 shares of the company’s stock after purchasing 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 SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CHPT. Pinnacle Associates Ltd. bought a new position in shares of ChargePoint in the 3rd quarter worth about $65,000. Raymond James Financial Services Advisors Inc. raised its position in shares of ChargePoint by 49.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 210,005 shares of the company’s stock worth $1,044,000 after purchasing an additional 69,852 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of ChargePoint by 3.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 963,808 shares of the company’s stock worth $4,790,000 after purchasing an additional 34,884 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in ChargePoint by 20.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,243 shares of the company’s stock valued at $230,000 after purchasing an additional 7,961 shares during the period. Finally, SCP Investment LP grew its stake in ChargePoint by 105.3% during the 3rd quarter. SCP Investment LP now owns 46,800 shares of the company’s stock worth $233,000 after buying an additional 24,000 shares during the last quarter. 37.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CHPT shares. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 price target (down previously from $3.50) on shares of ChargePoint in a report on Wednesday, March 6th. DA Davidson restated a “buy” rating and issued a $4.00 price target on shares of ChargePoint in a research note on Wednesday, March 6th. Oppenheimer reiterated a “market perform” rating on shares of ChargePoint in a research report on Wednesday, March 6th. R. F. Lafferty lowered their target price on ChargePoint from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday, March 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $3.00 price target on shares of ChargePoint in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.46.

ChargePoint Stock Performance

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

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

ChargePoint 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.