Bloom Energy Co. (NYSE:BE) Stock Holdings Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in shares of Bloom Energy Co. (NYSE:BE) by 94.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,305 shares of the company’s stock after selling 306,204 shares during the quarter. Principal Financial Group Inc.’s holdings in Bloom Energy were worth $193,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Electron Capital Partners LLC grew its position in shares of Bloom Energy by 131.5% in the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after acquiring an additional 1,790,733 shares in the last quarter. JAT Capital Mgmt LP increased its stake in Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after purchasing an additional 733,363 shares during the last quarter. DigitalBridge Group Inc. raised its holdings in shares of Bloom Energy by 66.3% during the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after purchasing an additional 462,581 shares during the period. Pier Capital LLC bought a new position in shares of Bloom Energy in the 2nd quarter worth about $5,602,000. Finally, Erste Asset Management GmbH acquired a new position in shares of Bloom Energy in the 3rd quarter valued at about $3,762,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BE has been the topic of several research reports. Bank of America increased their price objective on shares of Bloom Energy from $7.00 to $20.00 and gave the stock an “underperform” rating in a research note on Monday, December 9th. Morgan Stanley raised their price target on Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. BTIG Research upped their price objective on Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Jefferies Financial Group raised their target price on Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada upped their price target on shares of Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. One 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $22.45.

Insider Activity at Bloom Energy

In other news, CEO Kr Sridhar sold 46,697 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total value of $1,167,425.00. Following the completion of the sale, the chief executive officer now owns 1,822,496 shares of the company’s stock, valued at $45,562,400. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Shawn Marie Soderberg sold 1,289 shares of the company’s stock in a transaction that occurred 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 approximately $4,139,858.16. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,975 shares of company stock valued at $3,045,019 over the last ninety days. Insiders own 8.81% of the company’s stock.

Bloom Energy Stock Performance

NYSE:BE opened at $25.41 on Tuesday. The company has a 50-day moving average of $21.30 and a 200-day moving average of $14.99. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of -45.37 and a beta of 3.06. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a twelve month low of $8.41 and a twelve month high of $28.70.

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.