Geode Capital Management LLC Cuts Stock Holdings in Bloom Energy Co. (NYSE:BE)

Geode Capital Management LLC reduced its stake in shares of Bloom Energy Co. (NYSE:BE) by 2.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,602,434 shares of the company’s stock after selling 103,905 shares during the quarter. Geode Capital Management LLC’s holdings in Bloom Energy were worth $48,611,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Millburn Ridgefield Corp grew its stake in shares of Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after acquiring an additional 528 shares during the last quarter. Quest Partners LLC grew its stake in shares of Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after purchasing an additional 3,475 shares during the period. Emerald Mutual Fund Advisers Trust purchased a new position in Bloom Energy in the third quarter valued at $74,000. Gilliland Jeter Wealth Management LLC increased its stake in shares of Bloom Energy by 97.7% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 8,500 shares of the company’s stock valued at $90,000 after purchasing an additional 4,200 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Bloom Energy during the 2nd quarter worth approximately $103,000. 77.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Bloom Energy news, CEO Kr Sridhar sold 46,697 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total value of $1,167,425.00. Following the transaction, the chief executive officer now owns 1,822,496 shares in the company, valued at approximately $45,562,400. This represents a 2.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the transaction, the insider now owns 168,561 shares in the company, valued at $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,975 shares of company stock worth $3,045,019 in the last ninety days. 8.81% of the stock is currently owned by corporate insiders.

Bloom Energy Price Performance

Shares of BE opened at $24.20 on Tuesday. Bloom Energy Co. has a one year low of $8.41 and a one year high of $28.70. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of -43.21 and a beta of 3.04. The stock’s fifty day moving average is $18.55 and its 200-day moving average is $14.35. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Wall Street Analyst Weigh In

BE has been the subject of a number of research analyst reports. Susquehanna raised their target price on Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a research report on Friday, December 6th. Truist Financial cut their price target on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a report on Wednesday, October 16th. Morgan Stanley upped their price target on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Roth Capital raised shares of Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Finally, UBS Group lifted their target price on Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $22.45.

Bloom Energy Company 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.