Bloom Energy Corporation $BE Shares Sold by Family CFO Inc

Family CFO Inc lessened its holdings in shares of Bloom Energy Corporation (NYSE:BE) by 28.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 48,350 shares of the company’s stock after selling 19,650 shares during the period. Bloom Energy comprises 5.2% of Family CFO Inc’s portfolio, making the stock its 6th largest holding. Family CFO Inc’s holdings in Bloom Energy were worth $13,392,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in BE. Putney Financial Group LLC acquired a new position in Bloom Energy during the 3rd quarter worth about $46,000. Oregon Public Employees Retirement Fund bought a new position in shares of Bloom Energy in the third quarter worth about $10,027,000. IPG Investment Advisors LLC acquired a new position in shares of Bloom Energy during the third quarter worth approximately $314,000. Torray Investment Partners LLC lifted its position in shares of Bloom Energy by 9.8% during the third quarter. Torray Investment Partners LLC now owns 57,702 shares of the company’s stock worth $15,982,000 after purchasing an additional 5,137 shares in the last quarter. Finally, Gerber Kawasaki Wealth & Investment Management lifted its position in shares of Bloom Energy by 30.0% during the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 36,839 shares of the company’s stock worth $10,204,000 after purchasing an additional 8,512 shares in the last quarter. Institutional investors own 77.04% of the company’s stock.

Key Bloom Energy News

Here are the key news stories impacting Bloom Energy this week:

• Positive Sentiment: Bloom and California Resources Corporation, including its Carbon TerraVault business, signed a non-binding MOU to evaluate at least 1 gigawatt of Bloom solid-oxide fuel-cell power paired with carbon capture and storage. The proposed projects could serve utilities, data centers and industrial customers, opening a sizable commercial opportunity. California Resources Corporation Announces Strategic Collaboration with Bloom Energy
• Positive Sentiment: Barclays upgraded Bloom to Overweight from Equal Weight, citing prospects for firm, on-site power, including demand from AI data centers. The analyst’s $289 price target still implies substantial potential upside from the price cited in the coverage, although it was reduced from $316. Bloom Energy Stock Upgrade Points to Staying Power for AI Data Centers
• Positive Sentiment: Recent operating results provide support for the growth story: Bloom reported third-quarter revenue of $1.24 billion, up 138% year over year, and raised its full-year revenue guidance to $4.4 billion–$4.6 billion. Why Did Bloom Energy Stock Jump Today?
• Neutral Sentiment: Director John Chambers sold 8,828 shares for about $1.8 million, reducing his stake by 4.24%; he still owned 199,505 shares after the transaction. SEC ownership filing
• Negative Sentiment: The California initiative remains an evaluation-stage, non-binding MOU, so the proposed capacity is not yet a firm order. Bloom’s elevated valuation also leaves the shares vulnerable if projects are delayed or fail to convert into revenue-generating contracts.

Insiders Place Their Bets

In other Bloom Energy news, CAO Maciej Kurzymski sold 2,295 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $268.42, for a total transaction of $616,023.90. Following the transaction, the chief accounting officer owned 77,391 shares in the company, valued at approximately $20,773,292.22. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Satish Chitoori sold 2,870 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $270.06, for a total value of $775,072.20. Following the transaction, the insider owned 202,494 shares of the company’s stock, valued at $54,685,529.64. The trade was a 1.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 83,526 shares of company stock valued at $20,492,938 in the last ninety days. 3.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on BE. Royal Bank Of Canada reissued an “outperform” rating and issued a $335.00 price target on shares of Bloom Energy in a report on Friday, October 23rd. Oppenheimer reaffirmed a “market perform” rating on shares of Bloom Energy in a report on Friday, October 23rd. Wall Street Zen lowered Bloom Energy from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Zacks Research downgraded Bloom Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $242.00 price target on shares of Bloom Energy in a report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Bloom Energy presently has a consensus rating of “Hold” and an average target price of $263.05.

Bloom Energy Trading Up 9.1%

Shares of NYSE BE opened at $214.05 on Wednesday. Bloom Energy Corporation has a fifty-two week low of $75.70 and a fifty-two week high of $351.28. The firm has a market capitalization of $63.28 billion, a P/E ratio of 102.75, a P/E/G ratio of 1.98 and a beta of 3.63. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.74 and a quick ratio of 3.08. The company’s 50 day simple moving average is $248.26 and its 200 day simple moving average is $220.48.

Bloom Energy (NYSE:BE) last released its earnings results on Thursday, October 22nd. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.25. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 EPS. On average, analysts predict that Bloom Energy Corporation will post 2.61 EPS for the current year.

Bloom Energy Company 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.