Geode Capital Management LLC Lowers Stock Position in Bloom Energy Co. (NYSE:BE)

Geode Capital Management LLC lessened its stake in shares of Bloom Energy Co. (NYSE:BE) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,540,118 shares of the company’s stock after selling 62,316 shares during the period. Geode Capital Management LLC’s holdings in Bloom Energy were worth $100,859,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BE. Kovitz Investment Group Partners LLC increased its holdings in Bloom Energy by 3.9% during the third quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock worth $374,000 after buying an additional 1,349 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Bloom Energy during the third quarter worth about $34,000. Peapack Gladstone Financial Corp increased its holdings in Bloom Energy by 4.4% during the third quarter. Peapack Gladstone Financial Corp now owns 271,924 shares of the company’s stock worth $2,871,000 after buying an additional 11,525 shares during the last quarter. Franklin Resources Inc. increased its holdings in Bloom Energy by 62.4% during the third quarter. Franklin Resources Inc. now owns 125,598 shares of the company’s stock worth $1,314,000 after buying an additional 48,258 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its holdings in Bloom Energy by 21.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 21,404 shares of the company’s stock worth $226,000 after buying an additional 3,824 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insider Buying and Selling

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the transaction, the insider now directly owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Satish Chitoori sold 1,020 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the transaction, the insider now directly owns 178,656 shares in the company, valued at approximately $4,482,479.04. The trade was a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BE shares. Royal Bank of Canada reiterated an “outperform” rating on shares of Bloom Energy in a research note on Tuesday, April 1st. Bank of America reduced their target price on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. lifted their target price on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Piper Sandler cut their price objective on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Finally, Morgan Stanley raised their price objective on shares of Bloom Energy from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Bloom Energy has a consensus rating of “Hold” and a consensus price target of $24.29.

Bloom Energy Stock Up 5.3 %

Shares of NYSE BE opened at $17.92 on Thursday. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83. The firm’s fifty day moving average is $22.80 and its 200 day moving average is $20.27. The company has a market cap of $4.13 billion, a price-to-earnings ratio of -32.00 and a beta of 3.27.

Bloom Energy Profile

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.