Sumitomo Mitsui Trust Group Inc. Has $4.85 Million Stock Holdings in Bloom Energy Co. (NYSE:BE)

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Bloom Energy Co. (NYSE:BE) by 46.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 218,377 shares of the company’s stock after selling 190,921 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.10% of Bloom Energy worth $4,850,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BE. Elemental Capital Partners LLC acquired a new position in Bloom Energy during the fourth quarter valued at $33,612,000. JAT Capital Mgmt LP raised its position 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 buying an additional 733,363 shares during the period. Erste Asset Management GmbH acquired a new position in Bloom Energy during the third quarter valued at $3,762,000. Edgestream Partners L.P. acquired a new position in Bloom Energy during the third quarter valued at $3,274,000. Finally, Temasek Holdings Private Ltd acquired a new position in Bloom Energy during the third quarter valued at $3,249,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on BE shares. Hsbc Global Res raised Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. Roth Mkm started coverage on Bloom Energy in a research report on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 target price on the stock. Susquehanna upped their target price on Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research report on Friday, December 6th. Bank of America dropped their target price on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. Finally, HSBC lowered Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 target price on the stock. in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.72.

Insider Buying and Selling

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction on Monday, November 18th. The stock was sold at an average price of $24.56, for a total value 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. The trade was a 0.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the completion of the transaction, the chief executive officer now owns 1,869,593 shares of the company’s stock, valued at approximately $46,777,216.86. The trade was a 3.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,528 shares of company stock worth $3,061,501 in the last 90 days. 8.81% of the stock is owned by company insiders.

Bloom Energy Trading Up 4.8 %

Bloom Energy stock opened at $24.60 on Friday. The business has a 50 day moving average price of $24.20 and a two-hundred day moving average price of $17.02. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of -43.93 and a beta of 3.06. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $29.83.

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.