Zevenbergen Capital Investments LLC Sells 25,400 Shares of Bloom Energy Co. (NYSE:BE)

Zevenbergen Capital Investments LLC reduced its position in Bloom Energy Co. (NYSE:BE) by 16.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,450 shares of the company’s stock after selling 25,400 shares during the quarter. Zevenbergen Capital Investments LLC owned approximately 0.06% of Bloom Energy worth $2,920,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millburn Ridgefield Corp lifted its holdings in shares of Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after acquiring an additional 528 shares during the period. Mainstream Capital Management LLC bought a new position in shares of Bloom Energy during the fourth quarter valued at $28,000. Smartleaf Asset Management LLC lifted its holdings in shares of Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after acquiring an additional 934 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after buying an additional 812 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Bloom Energy in the third quarter valued at about $34,000. 77.04% of the stock is owned by institutional investors.

Insider Activity

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the transaction, the insider now owns 171,040 shares of the company’s stock, valued at $4,005,756.80. This represents a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Satish Chitoori sold 1,020 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the transaction, the insider now directly owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by company insiders.

Bloom Energy Trading Down 5.9 %

NYSE:BE opened at $23.90 on Monday. Bloom Energy Co. has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The stock has a market capitalization of $5.51 billion, a PE ratio of -42.68 and a beta of 3.30. The business’s 50-day simple moving average is $24.10 and its 200-day simple moving average is $19.42.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their price target on Bloom Energy from $28.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday. Piper Sandler cut their price target on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Friday, February 28th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bloom Energy in a report on Friday, February 28th. Truist Financial lifted their price target on Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Finally, Mizuho began coverage on Bloom Energy in a report on Tuesday, March 18th. They issued a “neutral” rating and a $28.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $25.06.

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.