Bloom Energy Corporation $BE Shares Sold by Family CFO Inc

Key Points

• Family CFO Inc cut its Bloom Energy stake by 26.2% in Q3, selling 37,000 shares and now holds 104,173 shares valued at $8.81 million (4.1% of its portfolio, its 9th largest holding).
• Bloom Energy beat Q3 estimates with $0.15 EPS vs. $0.08 expected and revenue of $519.1M (up 57.1% YoY), though analysts still forecast -$0.23 EPS for the current year.
• Insiders have sold about 120,410 shares (~$16.6M) over the past three months, institutional ownership is 77.04%, and the stock carries a consensus "Hold" rating with a $96 target amid a high PE (~741) and $33B market cap.

Family CFO Inc decreased its holdings in Bloom Energy Corporation (NYSE:BE - Free Report) by 26.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,173 shares of the company's stock after selling 37,000 shares during the period. Bloom Energy comprises 4.1% of Family CFO Inc's portfolio, making the stock its 9th largest holding. Family CFO Inc's holdings in Bloom Energy were worth $8,810,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bayforest Capital Ltd acquired a new stake in shares of Bloom Energy in the first quarter worth about $2,055,000. AQR Capital Management LLC acquired a new stake in Bloom Energy during the first quarter worth about $1,820,000. NewEdge Advisors LLC increased its position in shares of Bloom Energy by 674.7% during the first 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 during the period. Goldman Sachs Group Inc. raised its stake in shares of Bloom Energy by 50.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company's stock valued at $49,127,000 after buying an additional 836,810 shares in the last quarter. Finally, Focus Partners Wealth lifted its stake in Bloom Energy by 30.7% during 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 and hedge funds own 77.04% of the company's stock.

Bloom Energy Trading Up 4.4%

BE opened at $139.32 on Friday. The firm's fifty day moving average is $105.35 and its two-hundred day moving average is $78.45. The firm has a market cap of $32.95 billion, a PE ratio of 741.44, a price-to-earnings-growth ratio of 11.24 and a beta of 3.01. Bloom Energy Corporation has a twelve month low of $15.15 and a twelve month high of $147.86. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40.

Bloom Energy (NYSE:BE - Get Free Report) last posted its earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.07. The firm had revenue of $519.05 million for the quarter, compared to analyst estimates of $425.18 million. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The company's revenue for the quarter was up 57.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) earnings per share. Equities research analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

Analyst Ratings Changes

BE has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Bloom Energy to $115.00 and gave the stock a "buy" rating in a report on Tuesday, October 14th. Jefferies Financial Group reiterated an "underperform" rating and issued a $53.00 price objective on shares of Bloom Energy in a research report on Friday, October 31st. HSBC upgraded Bloom Energy from a "hold" rating to a "buy" rating and set a $150.00 target price on the stock in a report on Wednesday, October 29th. Truist Financial set a $68.00 price target on Bloom Energy in a report on Friday, January 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Bloom Energy to $129.00 and gave the stock an "overweight" rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $96.00.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 36,666 shares of the company's stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $141.00, for a total value of $5,169,906.00. Following the completion of the transaction, the insider directly owned 225,949 shares of the company's stock, valued at approximately $31,858,809. This represents a 13.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Maciej Kurzymski sold 13,105 shares of Bloom Energy stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $144.09, for a total value of $1,888,299.45. Following the completion of the sale, the insider directly owned 93,269 shares in the company, valued at $13,439,130.21. This represents a 12.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 120,410 shares of company stock valued at $16,557,185. 3.60% of the stock is owned by corporate insiders.

About Bloom Energy

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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