Cetera Investment Advisers lessened its holdings in shares of Bloom Energy Co. (NYSE:BE – Get Rating) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,074 shares of the company's stock after selling 1,308 shares during the quarter. Cetera Investment Advisers' holdings in Bloom Energy were worth $496,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Clearbridge Investments LLC boosted its holdings in shares of Bloom Energy by 21.7% during the 1st quarter. Clearbridge Investments LLC now owns 3,840,712 shares of the company's stock valued at $92,753,000 after purchasing an additional 685,213 shares during the last quarter. Frontier Capital Management Co. LLC purchased a new stake in shares of Bloom Energy in the second quarter worth about $8,143,000. Goldman Sachs Group Inc. boosted its stake in Bloom Energy by 64.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,198,250 shares of the company's stock valued at $28,938,000 after buying an additional 469,679 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in Bloom Energy by 31.5% during the 1st quarter. Handelsbanken Fonder AB now owns 1,435,319 shares of the company's stock valued at $34,663,000 after buying an additional 343,619 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Bloom Energy by 33.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,230,087 shares of the company's stock worth $29,707,000 after acquiring an additional 308,527 shares during the last quarter. 64.19% of the stock is owned by hedge funds and other institutional investors.
Get Bloom Energy alerts:Insider Buying and Selling
In other Bloom Energy news, CEO Kr Sridhar sold 7,424 shares of the business's stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $21.45, for a total value of $159,244.80. Following the completion of the sale, the chief executive officer now directly owns 474,514 shares of the company's stock, valued at approximately $10,178,325.30. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Bloom Energy news, EVP Guillermo Brooks sold 1,398 shares of the company's stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $18.30, for a total value of $25,583.40. Following the completion of the sale, the executive vice president now directly owns 23,992 shares in the company, valued at approximately $439,053.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kr Sridhar sold 7,424 shares of the firm's stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $21.45, for a total value of $159,244.80. Following the transaction, the chief executive officer now owns 474,514 shares in the company, valued at approximately $10,178,325.30. The disclosure for this sale can be found here. Insiders have sold 30,531 shares of company stock valued at $697,417 in the last 90 days. Company insiders own 2.78% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently weighed in on BE shares. Wells Fargo & Company raised their target price on shares of Bloom Energy from $30.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, August 11th. Morgan Stanley upped their target price on shares of Bloom Energy from $21.00 to $37.00 and gave the company an "equal weight" rating in a research report on Thursday, August 18th. Bank of America reaffirmed a "buy" rating and issued a $34.00 price target on shares of Bloom Energy in a report on Thursday, August 25th. KeyCorp decreased their price objective on Bloom Energy from $33.00 to $31.00 and set an "overweight" rating on the stock in a research report on Thursday, October 20th. Finally, Raymond James lifted their target price on Bloom Energy from $23.00 to $29.00 in a report on Wednesday, August 10th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Bloom Energy presently has an average rating of "Moderate Buy" and a consensus price target of $30.50.Bloom Energy Stock Up 1.1 %
NYSE:BE opened at $21.52 on Friday. The company has a market cap of $4.20 billion, a price-to-earnings ratio of -13.37 and a beta of 2.87. Bloom Energy Co. has a twelve month low of $11.47 and a twelve month high of $31.47. The company has a current ratio of 2.46, a quick ratio of 1.81 and a debt-to-equity ratio of 4.44. The stock has a fifty day simple moving average of $19.51 and a 200-day simple moving average of $20.18.
Bloom Energy Profile
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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 power generation platform that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels, into electricity through an electrochemical process without combustion.
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