Bloom Energy Corporation $BE Stock Acquired by ProShare Advisors LLC

ProShare Advisors LLC boosted its holdings in Bloom Energy Corporation (NYSE:BE - Free Report) by 5,260.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 46,423 shares of the company's stock after purchasing an additional 45,557 shares during the quarter. ProShare Advisors LLC's holdings in Bloom Energy were worth $12,858,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BE. Vise Technologies Inc. bought a new stake in shares of Bloom Energy in the 3rd quarter valued at $1,709,000. Global Assets Advisory LLC boosted its stake in Bloom Energy by 5.2% during the third quarter. Global Assets Advisory LLC now owns 1,877 shares of the company's stock worth $542,000 after acquiring an additional 92 shares in the last quarter. Marin Bay Wealth Advisors LLC bought a new position in Bloom Energy during the third quarter worth $346,000. Gilliland Jeter Wealth Management LLC boosted its stake in Bloom Energy by 32.9% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 11,565 shares of the company's stock worth $3,203,000 after acquiring an additional 2,865 shares in the last quarter. Finally, Americana Partners LLC boosted its stake in Bloom Energy by 1.9% during the third quarter. Americana Partners LLC now owns 14,100 shares of the company's stock worth $3,905,000 after acquiring an additional 263 shares in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Satish Chitoori sold 2,870 shares of Bloom Energy stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $270.06, for a total transaction of $775,072.20. Following the transaction, the insider directly owned 202,494 shares of the company's stock, valued at $54,685,529.64. The trade was a 1.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Chambers sold 15,000 shares of Bloom Energy stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $250.00, for a total transaction of $3,750,000.00. Following the transaction, the director directly owned 208,333 shares in the company, valued at $52,083,250. This represents a 6.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 83,526 shares of company stock worth $20,492,938. 3.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

BE has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Bloom Energy from a "buy" rating to a "hold" rating in a research note on Saturday, October 24th. Citigroup upped their price objective on shares of Bloom Energy from $281.00 to $284.00 and gave the company a "neutral" rating in a report on Thursday, October 29th. JPMorgan Chase & Co. cut their price objective on shares of Bloom Energy from $314.00 to $292.00 and set an "overweight" rating on the stock in a research report on Friday, October 23rd. Robert W. Baird raised their target price on Bloom Energy from $310.00 to $351.00 and gave the company an "outperform" rating in a research note on Thursday, October 15th. Finally, Evercore reaffirmed an "outperform" rating on shares of Bloom Energy in a research report on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $263.05.

Key Headlines Impacting Bloom Energy

Here are the key news stories impacting Bloom Energy this week:

• Positive Sentiment: Bloom and California Resources Corporation, including its Carbon TerraVault business, signed a non-binding MOU to evaluate at least 1 gigawatt of Bloom solid-oxide fuel-cell power paired with carbon capture and storage. The proposed projects could serve utilities, data centers and industrial customers, opening a sizable commercial opportunity. California Resources Corporation Announces Strategic Collaboration with Bloom Energy
• Positive Sentiment: Barclays upgraded Bloom to Overweight from Equal Weight, citing prospects for firm, on-site power, including demand from AI data centers. The analyst’s $289 price target still implies substantial potential upside from the price cited in the coverage, although it was reduced from $316. Bloom Energy Stock Upgrade Points to Staying Power for AI Data Centers
• Positive Sentiment: Recent operating results provide support for the growth story: Bloom reported third-quarter revenue of $1.24 billion, up 138% year over year, and raised its full-year revenue guidance to $4.4 billion–$4.6 billion. Why Did Bloom Energy Stock Jump Today?
• Neutral Sentiment: Director John Chambers sold 8,828 shares for about $1.8 million, reducing his stake by 4.24%; he still owned 199,505 shares after the transaction. SEC ownership filing
• Negative Sentiment: The California initiative remains an evaluation-stage, non-binding MOU, so the proposed capacity is not yet a firm order. Bloom’s elevated valuation also leaves the shares vulnerable if projects are delayed or fail to convert into revenue-generating contracts.

Bloom Energy Stock Performance

Shares of BE opened at $214.05 on Wednesday. The firm has a market capitalization of $63.28 billion, a P/E ratio of 131.32, a P/E/G ratio of 1.98 and a beta of 3.63. Bloom Energy Corporation has a 52 week low of $75.70 and a 52 week high of $351.28. The stock has a 50 day moving average price of $248.26 and a two-hundred day moving average price of $220.48. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.08 and a current ratio of 3.74.

Bloom Energy (NYSE:BE - Get Free Report) last posted its earnings results on Thursday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.25. Bloom Energy had a return on equity of 45.29% and a net margin of 13.53%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company earned $0.15 earnings per share. The company's revenue for the quarter was up 138.1% on a year-over-year basis. Equities analysts forecast that Bloom Energy Corporation will post 2.61 earnings per share for the current fiscal year.

About Bloom Energy

Bloom Energy Corporation develops and manufactures energy systems designed to generate electricity on-site. Its primary product is the Bloom Energy Server, a solid oxide fuel cell platform that converts fuel into electricity through an electrochemical process rather than combustion. The systems are used by businesses, utilities, data centers and other organizations seeking reliable, distributed power.

The company also develops electrolyzers based on its solid oxide technology. These systems are designed to produce hydrogen from electricity and water and support applications related to industrial operations, energy storage and the emerging hydrogen economy.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.