Bloom Energy Co. (NYSE:BE) Shares Sold by California Public Employees Retirement System

Posted by on May 18th, 2023

California Public Employees Retirement System trimmed its position in Bloom Energy Co. (NYSE:BE – Get Rating) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 310,941 shares of the company’s stock after selling 14,786 shares during the quarter. California Public Employees Retirement System owned approximately 0.16% of Bloom Energy worth $5,945,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Swiss National Bank grew its position in shares of Bloom Energy by 10.6% in the 4th quarter. Swiss National Bank now owns 425,700 shares of the company’s stock valued at $8,139,000 after buying an additional 40,700 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Bloom Energy by 9.3% in the 4th quarter. Russell Investments Group Ltd. now owns 104,918 shares of the company’s stock valued at $2,006,000 after buying an additional 8,903 shares during the last quarter. Arizona State Retirement System grew its position in shares of Bloom Energy by 12.7% in the 4th quarter. Arizona State Retirement System now owns 49,746 shares of the company’s stock valued at $951,000 after buying an additional 5,622 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Bloom Energy during the 4th quarter worth $600,000. Finally, Handelsbanken Fonder AB grew its position in Bloom Energy by 2.1% during the 4th quarter. Handelsbanken Fonder AB now owns 2,035,022 shares of the company’s stock worth $38,910,000 after purchasing an additional 42,759 shares during the last quarter. 79.55% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Stock Up 5.1 %

Shares of NYSE BE opened at $13.79 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.61 and a debt-to-equity ratio of 1.88. Bloom Energy Co. has a 52 week low of $12.33 and a 52 week high of $31.47. The firm has a 50-day moving average price of $17.57 and a 200 day moving average price of $20.29. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of -8.84 and a beta of 2.85.

Analysts Set New Price Targets

Several brokerages have issued reports on BE. Jefferies Financial Group lowered their price objective on shares of Bloom Energy from $30.00 to $25.00 in a research report on Monday. Credit Suisse Group reissued an “outperform” rating and set a $32.00 price objective on shares of Bloom Energy in a research report on Monday, February 13th. Robert W. Baird lowered their price objective on shares of Bloom Energy from $25.00 to $21.00 in a research report on Thursday, May 11th. Piper Sandler raised their price objective on shares of Bloom Energy from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Monday, April 17th. Finally, Raymond James downgraded shares of Bloom Energy from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $29.00 to $25.00 in a report on Wednesday, April 5th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.63.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Sharelynn Faye Moore sold 2,016 shares of Bloom Energy stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $18.52, for a total transaction of $37,336.32. Following the completion of the transaction, the insider now owns 162,175 shares in the company, valued at $3,003,481. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Bloom Energy news, insider Sharelynn Faye Moore sold 2,016 shares of Bloom Energy stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $18.52, for a total transaction of $37,336.32. Following the completion of the transaction, the insider now owns 162,175 shares in the company, valued at $3,003,481. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Guillermo Brooks sold 3,187 shares of Bloom Energy stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $22.15, for a total transaction of $70,592.05. Following the transaction, the executive vice president now owns 103,981 shares of the company’s stock, valued at approximately $2,303,179.15. The disclosure for this sale can be found here. Insiders sold 344,572 shares of company stock worth $6,345,545 over the last 90 days. Company insiders own 8.81% of the company’s stock.

Bloom Energy Company Profile

(Get Rating)

Bloom Energy Corp. engages in the manufacture and installation of a solid oxide fuel-cell based power generation platform. Its product, Bloom Energy Server, converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion. The company was founded by K.

Featured Articles

Want to see what other hedge funds are holding BE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bloom Energy Co. (NYSE:BE – Get Rating).

Institutional Ownership by Quarter for Bloom Energy (NYSE:BE)

Receive News & Ratings for Bloom Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bloom Energy and related companies with MarketBeat.com's FREE daily email newsletter.