Corient Private Wealth LLC Buys 32,364 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

Corient Private Wealth LLC grew its stake in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 96.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,765 shares of the company’s stock after purchasing an additional 32,364 shares during the quarter. Corient Private Wealth LLC’s holdings in ChargePoint were worth $70,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CHPT. Swiss National Bank grew its position in shares of ChargePoint by 2.2% in the fourth quarter. Swiss National Bank now owns 806,400 shares of the company’s stock valued at $863,000 after purchasing an additional 17,600 shares during the last quarter. Marathon Trading Investment Management LLC boosted its stake in ChargePoint by 151.6% in the 4th quarter. Marathon Trading Investment Management LLC now owns 139,400 shares of the company’s stock valued at $149,000 after purchasing an additional 84,000 shares during the period. Prescott Group Capital Management L.L.C. bought a new stake in ChargePoint in the 4th quarter valued at $171,000. Callan Family Office LLC acquired a new position in ChargePoint in the 4th quarter valued at $45,000. Finally, Raymond James Financial Inc. bought a new position in ChargePoint during the 4th quarter worth $354,000. Institutional investors own 37.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CHPT has been the topic of a number of recent research reports. Stifel Nicolaus lowered their price target on shares of ChargePoint from $2.00 to $1.00 and set a “hold” rating on the stock in a research report on Monday, March 10th. UBS Group set a $1.50 price target on shares of ChargePoint in a research report on Wednesday, March 5th. Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a research report on Wednesday, March 5th. The Goldman Sachs Group dropped their price objective on ChargePoint from $1.00 to $0.75 and set a “sell” rating for the company in a report on Thursday, February 20th. Finally, Royal Bank of Canada cut their target price on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $1.66.

ChargePoint Price Performance

CHPT opened at $0.62 on Thursday. ChargePoint Holdings, Inc. has a fifty-two week low of $0.56 and a fifty-two week high of $2.44. The firm has a 50-day moving average of $0.75 and a 200 day moving average of $1.06. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.24 and a current ratio of 1.94. The firm has a market cap of $274.52 million, a P/E ratio of -0.84 and a beta of 1.85.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The firm had revenue of $101.89 million during the quarter, compared to the consensus estimate of $100.99 million. ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. On average, research analysts expect that ChargePoint Holdings, Inc. will post -0.57 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.