Bloom Energy Corporation $BE Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its holdings in shares of Bloom Energy Corporation (NYSE:BE) by 24.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,783 shares of the company’s stock after selling 19,717 shares during the quarter. Teacher Retirement System of Texas’ holdings in Bloom Energy were worth $5,140,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Bloom Energy in the second quarter worth about $57,821,000. Man Group plc raised its holdings in Bloom Energy by 177.4% in the 2nd quarter. Man Group plc now owns 2,392,915 shares of the company’s stock valued at $57,239,000 after acquiring an additional 1,530,167 shares during the last quarter. Elemental Capital Partners LLC purchased a new position in Bloom Energy in the 3rd quarter worth approximately $101,720,000. Goldman Sachs Group Inc. boosted its holdings in shares of Bloom Energy by 50.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock worth $49,127,000 after purchasing an additional 836,810 shares during the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Bloom Energy during the 2nd quarter worth approximately $18,808,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bloom Energy news, insider Maciej Kurzymski sold 3,264 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $86.48, for a total value of $282,270.72. Following the sale, the insider owned 90,005 shares of the company’s stock, valued at $7,783,632.40. The trade was a 3.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shawn Marie Soderberg sold 1,583 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $105.97, for a total value of $167,750.51. Following the transaction, the insider owned 221,633 shares in the company, valued at $23,486,449.01. This trade represents a 0.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 120,410 shares of company stock worth $16,557,185. Insiders own 3.50% of the company’s stock.

Bloom Energy Stock Performance

NYSE BE opened at $139.07 on Tuesday. The stock has a fifty day simple moving average of $108.94 and a 200-day simple moving average of $85.25. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. The stock has a market cap of $32.89 billion, a PE ratio of 804.94, a P/E/G ratio of 12.20 and a beta of 3.01. Bloom Energy Corporation has a twelve month low of $15.15 and a twelve month high of $155.87.

Bloom Energy (NYSE:BE) last posted its earnings results on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The company had revenue of $519.05 million for the quarter, compared to analysts’ expectations of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. Bloom Energy’s revenue for the quarter was up 57.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.01) earnings per share. Equities analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Truist Financial set a $68.00 price objective on Bloom Energy in a research report on Friday, January 9th. Zacks Research downgraded Bloom Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Royal Bank Of Canada set a $143.00 price target on Bloom Energy in a report on Tuesday, January 20th. BTIG Research raised their price objective on shares of Bloom Energy to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, BMO Capital Markets set a $136.00 target price on shares of Bloom Energy in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Bloom Energy has a consensus rating of “Hold” and a consensus target price of $102.43.

Bloom Energy Company Profile

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.