Gerber Kawasaki Wealth & Investment Management lifted its holdings in shares of Bloom Energy Corporation (NYSE:BE – Free Report) by 30.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,839 shares of the company’s stock after buying an additional 8,512 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in Bloom Energy were worth $10,204,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Jennison Associates LLC lifted its stake in Bloom Energy by 20,074.4% during the 1st quarter. Jennison Associates LLC now owns 2,687,029 shares of the company’s stock valued at $364,066,000 after acquiring an additional 2,673,710 shares during the period. Bank of America Corp DE grew its stake in shares of Bloom Energy by 6.1% in the first quarter. Bank of America Corp DE now owns 2,211,880 shares of the company’s stock worth $299,688,000 after acquiring an additional 126,649 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Bloom Energy by 78.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,327,549 shares of the company’s stock worth $401,849,000 after acquiring an additional 583,135 shares during the period. Elemental Capital Partners LLC grew its stake in shares of Bloom Energy by 2.5% in the third quarter. Elemental Capital Partners LLC now owns 1,039,031 shares of the company’s stock worth $287,791,000 after acquiring an additional 25,625 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Bloom Energy during the second quarter valued at approximately $296,413,000. 77.04% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several brokerages recently issued reports on BE. Sanford C. Bernstein raised their target price on shares of Bloom Energy from $282.00 to $306.00 and gave the stock a “market perform” rating in a report on Friday, October 23rd. Evercore reaffirmed an “outperform” rating on shares of Bloom Energy in a research report on Monday, October 26th. Wells Fargo & Company boosted their target price on shares of Bloom Energy from $176.00 to $182.00 and gave the company an “equal weight” rating in a research note on Monday, October 26th. Wall Street Zen cut Bloom Energy from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Finally, Susquehanna raised their price target on Bloom Energy from $293.00 to $298.00 and gave the stock a “positive” rating in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $264.33.
View Our Latest Analysis on BE
Bloom Energy Trading Down 3.5%
Bloom Energy stock opened at $196.15 on Tuesday. Bloom Energy Corporation has a 52-week low of $75.70 and a 52-week high of $351.28. The company has a market cap of $57.77 billion, a P/E ratio of 120.34, a P/E/G ratio of 2.36 and a beta of 3.77. The company has a quick ratio of 3.08, a current ratio of 3.74 and a debt-to-equity ratio of 1.33. The business has a 50-day simple moving average of $248.07 and a two-hundred day simple moving average of $220.08.
Bloom Energy (NYSE:BE – Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.25. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Bloom Energy had a net margin of 13.53% and a return on equity of 45.29%. The business’s quarterly revenue was up 138.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 EPS. Analysts predict that Bloom Energy Corporation will post 2.61 EPS for the current year.
Insider Activity at Bloom Energy
In other news, Director Jeffrey R. Immelt sold 30,000 shares of Bloom Energy stock in a transaction on Monday, August 17th. The shares were sold at an average price of $238.91, for a total transaction of $7,167,300.00. Following the transaction, the director owned 201,243 shares in the company, valued at $48,078,965.13. This trade represents a 12.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shawn Soderberg sold 2,870 shares of Bloom Energy stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $270.07, for a total transaction of $775,100.90. Following the transaction, the insider owned 126,500 shares in the company, valued at $34,163,855. This represents a 2.22% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 74,698 shares of company stock valued at $18,697,058 in the last three months. Corporate insiders own 3.00% of the company’s stock.
Bloom Energy Profile
Bloom Energy Corporation develops and manufactures energy systems designed to generate electricity on-site. Its primary product is the Bloom Energy Server, a solid oxide fuel cell platform that converts fuel into electricity through an electrochemical process rather than combustion. The systems are used by businesses, utilities, data centers and other organizations seeking reliable, distributed power.
The company also develops electrolyzers based on its solid oxide technology. These systems are designed to produce hydrogen from electricity and water and support applications related to industrial operations, energy storage and the emerging hydrogen economy.
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