Bloom Energy Corporation $BE Shares Purchased by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC significantly increased its stake in Bloom Energy Corporation by 2,076.5% in the second quarter, owning 10,208 shares valued at $244,000.
• Insider Shawn Marie Soderberg sold 45,000 shares at an average price of $43.31, which decreased their holdings by 16.38%.
• Bloom Energy's stock has seen multiple price target upgrades, with Mizuho raising its target from $26.00 to $31.00 and Wells Fargo increasing it from $38.00 to $65.00.

Farther Finance Advisors LLC increased its stake in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 2,076.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,208 shares of the company's stock after purchasing an additional 9,739 shares during the period. Farther Finance Advisors LLC's holdings in Bloom Energy were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Advisors Asset Management Inc. grew its stake in Bloom Energy by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company's stock valued at $1,704,000 after acquiring an additional 26,077 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Bloom Energy by 634.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company's stock valued at $11,763,000 after acquiring an additional 516,833 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Bloom Energy by 662.4% during the 1st quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company's stock valued at $1,445,000 after acquiring an additional 63,875 shares in the last quarter. Comerica Bank grew its stake in Bloom Energy by 5.8% during the 1st quarter. Comerica Bank now owns 88,554 shares of the company's stock valued at $1,741,000 after acquiring an additional 4,885 shares in the last quarter. Finally, Torray Investment Partners LLC purchased a new stake in Bloom Energy during the 1st quarter valued at about $904,000. Hedge funds and other institutional investors own 77.04% of the company's stock.

Insider Buying and Selling

In other Bloom Energy news, insider Shawn Marie Soderberg sold 45,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $43.31, for a total value of $1,948,950.00. Following the completion of the transaction, the insider owned 229,682 shares of the company's stock, valued at $9,947,527.42. This trade represents a 16.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Maciej Kurzymski sold 2,474 shares of Bloom Energy stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $70.47, for a total transaction of $174,342.78. Following the sale, the insider directly owned 106,374 shares of the company's stock, valued at approximately $7,496,175.78. This trade represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 302,205 shares of company stock worth $14,919,283 over the last three months. 3.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BE. Mizuho upped their price objective on shares of Bloom Energy from $26.00 to $31.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Morgan Stanley increased their price target on shares of Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Royal Bank Of Canada set a $75.00 price target on shares of Bloom Energy in a research note on Tuesday. UBS Group increased their price target on shares of Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Wells Fargo & Company increased their price target on shares of Bloom Energy from $38.00 to $65.00 and gave the company an "equal weight" rating in a research note on Friday, September 12th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.29.

Bloom Energy Stock Performance

Shares of BE stock opened at $84.70 on Wednesday. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. Bloom Energy Corporation has a 52 week low of $9.02 and a 52 week high of $86.89. The stock has a market capitalization of $19.82 billion, a PE ratio of 2,118.03 and a beta of 3.28. The firm has a 50 day moving average of $53.04 and a two-hundred day moving average of $31.92.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.02 by $0.08. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The company had revenue of $401.24 million during the quarter, compared to analysts' expectations of $382.23 million. During the same quarter last year, the company posted ($0.06) EPS. The firm's revenue was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. On average, research analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Bloom Energy Company 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.

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 Corporation (NYSE:BE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.