MGO Private Wealth LLC Takes $36,000 Position in ChargePoint Holdings, Inc. (NYSE:CHPT)

MGO Private Wealth LLC purchased a new stake in ChargePoint Holdings, Inc. (NYSE:CHPT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,555 shares of the company’s stock, valued at approximately $36,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. RWA Wealth Partners LLC bought a new position in ChargePoint in the fourth quarter valued at approximately $31,000. Ingalls & Snyder LLC bought a new stake in shares of ChargePoint during the fourth quarter worth $33,000. Sigma Planning Corp bought a new stake in shares of ChargePoint during the fourth quarter worth $33,000. Ballentine Partners LLC bought a new stake in shares of ChargePoint during the fourth quarter worth $34,000. Finally, Jeppson Wealth Management LLC bought a new stake in shares of ChargePoint during the fourth quarter worth $40,000. 37.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Richard Wilmer sold 25,376 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,359,462 shares of the company’s stock, valued at $4,412,193.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other ChargePoint news, CFO Mansi Khetani sold 19,035 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1.87, for a total value of $35,595.45. Following the completion of the sale, the chief financial officer now directly owns 421,500 shares of the company’s stock, valued at approximately $788,205. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard Wilmer sold 25,376 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1.87, for a total transaction of $47,453.12. Following the completion of the sale, the chief executive officer now directly owns 2,359,462 shares of the company’s stock, valued at $4,412,193.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 154,846 shares of company stock worth $296,562. Company insiders own 12.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on CHPT shares. DA Davidson reaffirmed a “buy” rating and set a $4.00 target price on shares of ChargePoint in a research note on Wednesday, March 6th. Benchmark reaffirmed a “buy” rating and set a $4.25 target price on shares of ChargePoint in a research note on Wednesday, March 6th. Oppenheimer reiterated a “market perform” rating on shares of ChargePoint in a report on Wednesday, March 6th. Royal Bank of Canada reiterated 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. Finally, R. F. Lafferty cut their price target on shares of ChargePoint from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.46.

ChargePoint Stock Performance

Shares of NYSE CHPT traded up $0.01 during trading on Friday, hitting $1.27. 9,948,668 shares of the company traded hands, compared to its average volume of 11,374,403. The business’s fifty day moving average is $1.77 and its 200 day moving average is $2.16. ChargePoint Holdings, Inc. has a fifty-two week low of $1.21 and a fifty-two week 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.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $115.83 million for the quarter, compared to analyst estimates of $126.48 million. On average, equities research analysts forecast that ChargePoint Holdings, Inc. will post -0.63 EPS 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.