Bloom Energy Corporation $BE Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc cut its stake in shares of Bloom Energy Corporation (NYSE:BE) by 84.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,667 shares of the company’s stock after selling 352,100 shares during the period. Ensign Peak Advisors Inc’s holdings in Bloom Energy were worth $1,547,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Advisors Asset Management Inc. lifted its stake in Bloom Energy by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company’s stock valued at $1,704,000 after buying an additional 26,077 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Bloom Energy by 634.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company’s stock worth $11,763,000 after acquiring an additional 516,833 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in shares of Bloom Energy during the second quarter valued at approximately $108,000. Mizuho Markets Americas LLC lifted its position in shares of Bloom Energy by 29.9% in the 2nd quarter. Mizuho Markets Americas LLC now owns 395,490 shares of the company’s stock valued at $9,460,000 after acquiring an additional 90,980 shares in the last quarter. Finally, Comerica Bank boosted its stake in Bloom Energy by 5.8% in the 1st quarter. Comerica Bank now owns 88,554 shares of the company’s stock worth $1,741,000 after purchasing an additional 4,885 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.

Insider Transactions at Bloom Energy

In related news, insider Maciej Kurzymski sold 13,105 shares of Bloom Energy stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $144.09, for a total value of $1,888,299.45. Following the completion of the sale, the insider owned 93,269 shares of the company’s stock, valued at approximately $13,439,130.21. The trade was a 12.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Satish Chitoori sold 2,085 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $104.08, for a total transaction of $217,006.80. Following the completion of the sale, the insider owned 229,880 shares of the company’s stock, valued at $23,925,910.40. This represents a 0.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 119,589 shares of company stock valued at $16,439,742. Insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on BE. Jefferies Financial Group reissued an “underperform” rating and set a $53.00 target price on shares of Bloom Energy in a research note on Friday, October 31st. Morgan Stanley upped their price target on Bloom Energy to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. increased their price objective on Bloom Energy to $129.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Wells Fargo & Company lifted their target price on Bloom Energy to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Finally, Evercore ISI reiterated an “outperform” rating on shares of Bloom Energy in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $93.57.

Bloom Energy Stock Performance

Shares of BE stock opened at $101.19 on Friday. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88. Bloom Energy Corporation has a fifty-two week low of $15.15 and a fifty-two week high of $147.86. The stock’s 50-day moving average is $104.18 and its two-hundred day moving average is $58.25. The firm has a market cap of $23.93 billion, a P/E ratio of 561.89, a PEG ratio of 63.88 and a beta of 3.43.

Bloom Energy (NYSE:BE) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.07. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The business had revenue of $519.05 million during the quarter, compared to analyst estimates of $425.18 million. During the same period in the previous year, the company earned ($0.01) EPS. The firm’s revenue was up 57.1% on a year-over-year basis. Analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

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.