Creative Planning grew its stake in Bloom Energy Co. (NYSE:BE – Get Rating) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,340 shares of the company's stock after buying an additional 1,562 shares during the period. Creative Planning's holdings in Bloom Energy were worth $886,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Patten Group Inc. boosted its holdings in shares of Bloom Energy by 7.4% in the 3rd quarter. Patten Group Inc. now owns 12,936 shares of the company's stock valued at $232,000 after buying an additional 887 shares in the last quarter. Quantbot Technologies LP raised its position in Bloom Energy by 27.8% in the 1st quarter. Quantbot Technologies LP now owns 4,673 shares of the company's stock valued at $112,000 after purchasing an additional 1,017 shares during the last quarter. Defender Capital LLC. raised its position in Bloom Energy by 0.7% in the 2nd quarter. Defender Capital LLC. now owns 152,100 shares of the company's stock valued at $2,510,000 after purchasing an additional 1,100 shares during the last quarter. Banque Cantonale Vaudoise raised its position in Bloom Energy by 3.0% in the 2nd quarter. Banque Cantonale Vaudoise now owns 44,677 shares of the company's stock valued at $737,000 after purchasing an additional 1,314 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Bloom Energy by 19.0% in the 2nd quarter. Renaissance Technologies LLC now owns 10,000 shares of the company's stock valued at $165,000 after purchasing an additional 1,600 shares during the last quarter. Institutional investors and hedge funds own 79.55% of the company's stock.
Get Bloom Energy alerts:Insider Activity at Bloom Energy
In related news, EVP Shawn Marie Soderberg sold 3,254 shares of the stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $22.00, for a total value of $71,588.00. Following the sale, the executive vice president now directly owns 348,123 shares of the company's stock, valued at approximately $7,658,706. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Bloom Energy news, CMO Sharelynn Faye Moore sold 3,963 shares of the firm's stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $25.00, for a total transaction of $99,075.00. Following the sale, the chief marketing officer now directly owns 78,954 shares of the company's stock, valued at approximately $1,973,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Shawn Marie Soderberg sold 3,254 shares of the firm's stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $22.00, for a total transaction of $71,588.00. Following the sale, the executive vice president now directly owns 348,123 shares in the company, valued at $7,658,706. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,387 shares of company stock valued at $1,483,766. Insiders own 2.78% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Bloom Energy in a research report on Wednesday, October 19th. They issued a "buy" rating and a $29.00 price target for the company. KeyCorp reduced their price target on shares of Bloom Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a research report on Thursday, October 20th. Wells Fargo & Company downgraded shares of Bloom Energy from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $27.00 to $22.00 in a research report on Friday, January 6th. UBS Group began coverage on shares of Bloom Energy in a research report on Tuesday, December 13th. They set a "buy" rating and a $35.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of Bloom Energy from $31.00 to $29.00 and set an "overweight" rating for the company in a research report on Thursday, October 20th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $29.93.Bloom Energy Stock Performance
NYSE:BE opened at $24.18 on Tuesday. The company has a quick ratio of 1.81, a current ratio of 2.46 and a debt-to-equity ratio of 4.44. Bloom Energy Co. has a fifty-two week low of $11.47 and a fifty-two week high of $31.47. The stock has a market cap of $4.72 billion, a PE ratio of -15.02 and a beta of 2.84. The firm's fifty day simple moving average is $21.51 and its 200-day simple moving average is $21.55.
Bloom Energy (NYSE:BE – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported ($0.33) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.12). The business had revenue of $292.27 million during the quarter, compared to analyst estimates of $277.53 million. Bloom Energy had a negative net margin of 26.65% and a negative return on equity of 80,741.48%. Analysts expect that Bloom Energy Co. will post -1.15 earnings per share for the current fiscal year.
Bloom Energy Company Profile
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Bloom Energy Corp. engages in the manufacture and installation of on-site distributed power generators. 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. R. Sridhar, John Finn, Jim McElroy, Matthias Gottmann and Dien Nguyen on January 18, 2001 and is headquartered in San Jose, CA.
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