Charles Schwab Investment Management Inc. Sells 32,799 Shares of Bloom Energy Corporation $BE

Key Points

• Charles Schwab Investment Management Inc. reduced its position in Bloom Energy Corporation by 2.0%, owning 1,621,288 shares as of the latest SEC filing.
• Bloom Energy Corporation reported earnings of $0.10 per share, exceeding analysts' estimates significantly and showcasing 19.5% year-over-year revenue growth.
• The majority of Bloom Energy's stock, about 77.04%, is held by institutional investors, indicating strong professional interest in the company.

Charles Schwab Investment Management Inc. lowered its holdings in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,621,288 shares of the company's stock after selling 32,799 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.70% of Bloom Energy worth $31,875,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. XTX Topco Ltd acquired a new stake in shares of Bloom Energy in the 4th quarter valued at about $364,000. Marshall Wace LLP raised its stake in shares of Bloom Energy by 32.7% in the 4th quarter. Marshall Wace LLP now owns 508,240 shares of the company's stock valued at $11,288,000 after purchasing an additional 125,184 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Bloom Energy in the 4th quarter valued at about $113,000. CANADA LIFE ASSURANCE Co raised its stake in shares of Bloom Energy by 41.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 511,716 shares of the company's stock valued at $11,386,000 after purchasing an additional 148,914 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Bloom Energy in the 4th quarter valued at about $2,540,000. Institutional investors and hedge funds own 77.04% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BE. Mizuho raised their price objective on Bloom Energy from $26.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Morgan Stanley raised their price objective on Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Roth Capital raised their price objective on Bloom Energy from $20.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Susquehanna raised their price objective on Bloom Energy from $26.00 to $30.00 and gave the company a "positive" rating in a report on Monday, July 21st. Finally, UBS Group raised their price objective on Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a report on Friday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Bloom Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.39.

Insider Activity

In other Bloom Energy news, insider Aman Joshi sold 4,870 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $43.36, for a total transaction of $211,163.20. Following the completion of the transaction, the insider directly owned 224,361 shares in the company, valued at $9,728,292.96. The trade was a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shawn Marie Soderberg sold 45,000 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $43.31, for a total transaction of $1,948,950.00. Following the sale, the insider directly owned 229,682 shares in the company, valued at approximately $9,947,527.42. The trade was a 16.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,522 shares of company stock valued at $3,580,387 in the last three months. Company insiders own 3.60% of the company's stock.

Bloom Energy Stock Performance

Bloom Energy stock traded up $3.72 during midday trading on Friday, reaching $48.55. 13,911,498 shares of the company's stock were exchanged, compared to its average volume of 12,035,836. Bloom Energy Corporation has a 52 week low of $9.02 and a 52 week high of $48.97. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99. The firm has a market cap of $11.36 billion, a price-to-earnings ratio of 1,214.05 and a beta of 3.28. The stock's 50-day simple moving average is $30.92 and its 200 day simple moving average is $24.30.

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

Bloom Energy 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.