Zevenbergen Capital Investments LLC Has $2.92 Million Holdings in Bloom Energy Co. (NYSE:BE)

Zevenbergen Capital Investments LLC lessened its stake in Bloom Energy Co. (NYSE:BE) by 16.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 131,450 shares of the company’s stock after selling 25,400 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in Bloom Energy were worth $2,920,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its holdings in Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after purchasing an additional 934 shares during the last quarter. Mainstream Capital Management LLC bought a new position in Bloom Energy during the 4th quarter worth $28,000. Jones Financial Companies Lllp increased its position in Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after buying an additional 812 shares during the period. Avior Wealth Management LLC bought a new position in Bloom Energy during the 4th quarter worth $40,000. Finally, Millburn Ridgefield Corp increased its position in Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after buying an additional 528 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Stock Performance

Shares of BE stock opened at $23.90 on Monday. The business’s 50-day moving average price is $24.10 and its 200-day moving average price is $19.42. Bloom Energy Co. has a 12 month low of $9.02 and a 12 month high of $29.83. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of -42.68 and a beta of 3.30. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Analyst Ratings Changes

Several research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Robert W. Baird increased their price objective on Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Susquehanna increased their price objective on Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research report on Friday, December 6th. BMO Capital Markets restated a “market perform” rating on shares of Bloom Energy in a research report on Friday, February 28th. Finally, UBS Group raised their price target on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $25.06.

Insider Activity

In other news, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the sale, the insider now directly owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the transaction, the insider now directly owns 171,040 shares in the company, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.81% of the company’s stock.

About Bloom Energy

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.