BI Asset Management Fondsmaeglerselskab A S Sells 55,454 Shares of Bloom Energy Corporation $BE

Key Points

• BI Asset Management sharply reduced its Bloom Energy stake in the first quarter, selling 55,454 shares and cutting its position by 91.1% to 5,417 shares worth about $734,000.
• Insider selling has also been notable, including sales by Satish Chitoori and Director John T. Chambers; insiders have sold 230,274 shares worth about $58.7 million over the last 90 days.
• Bloom Energy reported strong quarterly results, beating EPS and revenue estimates, while analysts currently hold a consensus rating of Moderate Buy with an average target price of $224.36.

BI Asset Management Fondsmaeglerselskab A S decreased its stake in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 91.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,417 shares of the company's stock after selling 55,454 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Bloom Energy were worth $734,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Bayforest Capital Ltd purchased a new position in Bloom Energy during the first quarter valued at approximately $2,055,000. AQR Capital Management LLC bought a new position in Bloom Energy in the 1st quarter valued at $1,820,000. NewEdge Advisors LLC grew its position in shares of Bloom Energy by 674.7% during the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company's stock valued at $37,000 after purchasing an additional 1,626 shares in the last quarter. Goldman Sachs Group Inc. grew its position 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 valued at $49,127,000 after purchasing an additional 836,810 shares in the last quarter. Finally, Focus Partners Wealth increased its holdings in shares of Bloom Energy by 30.7% in the first quarter. Focus Partners Wealth now owns 20,063 shares of the company's stock worth $394,000 after purchasing an additional 4,716 shares during the period. Institutional investors own 77.04% of the company's stock.

Insider Buying and Selling

In related news, insider Satish Chitoori sold 2,837 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $289.11, for a total value of $820,205.07. Following the completion of the sale, the insider owned 207,417 shares in the company, valued at $59,966,328.87. The trade was a 1.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Chambers sold 55,000 shares of Bloom Energy stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $297.69, for a total transaction of $16,372,950.00. Following the transaction, the director directly owned 238,333 shares in the company, valued at $70,949,350.77. This trade represents a 18.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 230,274 shares of company stock worth $58,696,472 over the last ninety days. Corporate insiders own 3.00% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on BE. Sanford C. Bernstein assumed coverage on Bloom Energy in a research report on Tuesday, June 16th. They issued a "market perform" rating and a $276.00 price objective on the stock. Morgan Stanley restated an "overweight" rating and set a $310.00 target price on shares of Bloom Energy in a research report on Wednesday, April 29th. BMO Capital Markets restated an "outperform" rating on shares of Bloom Energy in a research note on Tuesday, June 9th. Roth Mkm set a $225.00 price target on Bloom Energy in a report on Wednesday, April 29th. Finally, Citigroup reiterated a "neutral" rating on shares of Bloom Energy in a research report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $224.36.

Bloom Energy Stock Down 5.5%

Shares of NYSE:BE opened at $308.37 on Friday. The firm has a market capitalization of $87.71 billion, a PE ratio of -6,166.13 and a beta of 3.73. The company has a debt-to-equity ratio of 2.90, a quick ratio of 4.10 and a current ratio of 5.03. Bloom Energy Corporation has a 52-week low of $21.50 and a 52-week high of $351.28. The firm has a fifty day moving average of $273.94 and a 200 day moving average of $184.71.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.32. Bloom Energy had a return on equity of 21.05% and a net margin of 0.25%.The firm had revenue of $751.05 million during the quarter, compared to analyst estimates of $539.94 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company's revenue was up 130.4% compared to the same quarter last year. Bloom Energy has set its FY 2026 guidance at 1.850-2.250 EPS. As a group, research analysts anticipate that Bloom Energy Corporation will post 1.31 EPS for the current fiscal year.

Bloom Energy 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.

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