California Public Employees Retirement System Sells 25,532 Shares of Bloom Energy Co. (NYSE:BE)

California Public Employees Retirement System lowered its stake in shares of Bloom Energy Co. (NYSE:BE) by 8.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 263,224 shares of the company’s stock after selling 25,532 shares during the quarter. California Public Employees Retirement System owned about 0.12% of Bloom Energy worth $3,896,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its holdings in shares of Bloom Energy by 6.2% during the third quarter. Deutsche Bank AG now owns 971,194 shares of the company’s stock worth $12,878,000 after buying an additional 57,090 shares during the last quarter. FMR LLC lifted its holdings in shares of Bloom Energy by 168.8% during the third quarter. FMR LLC now owns 3,524,361 shares of the company’s stock worth $46,733,000 after buying an additional 2,213,167 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in shares of Bloom Energy during the third quarter worth approximately $1,567,000. Vanguard Group Inc. lifted its holdings in shares of Bloom Energy by 9.3% during the third quarter. Vanguard Group Inc. now owns 19,221,174 shares of the company’s stock worth $254,873,000 after buying an additional 1,635,738 shares during the last quarter. Finally, Natixis Advisors L.P. lifted its holdings in shares of Bloom Energy by 41.2% during the third quarter. Natixis Advisors L.P. now owns 41,208 shares of the company’s stock worth $546,000 after buying an additional 12,017 shares during the last quarter. Institutional investors own 77.04% of the company’s stock.

Analysts Set New Price Targets

BE has been the subject of a number of recent research reports. Evercore ISI initiated coverage on Bloom Energy in a research note on Monday, April 1st. They issued an “outperform” rating and a $21.00 target price for the company. Redburn Atlantic initiated coverage on Bloom Energy in a research note on Tuesday, February 6th. They issued a “neutral” rating and a $12.50 target price for the company. Morgan Stanley restated an “overweight” rating and issued a $22.00 target price on shares of Bloom Energy in a research note on Monday, March 25th. BMO Capital Markets cut their target price on Bloom Energy from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Friday, February 16th. Finally, Truist Financial upgraded Bloom Energy from a “sell” rating to a “hold” rating and upped their target price for the company from $9.00 to $11.00 in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Bloom Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.69.

Insider Activity at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 8,963 shares of Bloom Energy stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $9.86, for a total transaction of $88,375.18. Following the transaction, the insider now directly owns 168,003 shares of the company’s stock, valued at $1,656,509.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $9.74, for a total transaction of $494,266.04. Following the completion of the sale, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at approximately $26,323,401.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 8,963 shares of Bloom Energy stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $9.86, for a total transaction of $88,375.18. Following the completion of the transaction, the insider now directly owns 168,003 shares in the company, valued at approximately $1,656,509.58. The disclosure for this sale can be found here. Insiders sold 74,989 shares of company stock valued at $725,292 over the last ninety days. 8.81% of the stock is owned by insiders.

Bloom Energy Stock Performance

Bloom Energy stock opened at $11.80 on Monday. The stock has a 50-day simple moving average of $10.32 and a 200 day simple moving average of $11.66. The company has a quick ratio of 2.53, a current ratio of 3.60 and a debt-to-equity ratio of 2.41. Bloom Energy Co. has a 12-month low of $8.41 and a 12-month high of $18.76. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -8.14 and a beta of 2.77.

Bloom Energy (NYSE:BE) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. Bloom Energy had a negative return on equity of 23.88% and a negative net margin of 22.66%. The business had revenue of $356.92 million during the quarter, compared to analysts’ expectations of $481.90 million. On average, research analysts anticipate that Bloom Energy Co. will post -0.16 earnings per share for the current fiscal year.

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.