Family CFO Inc Lowers Stock Position in Bloom Energy Corporation $BE

Key Points

• Family CFO Inc has reduced its stake in Bloom Energy Corporation by 4.1%, owning 141,173 shares worth approximately $3.38 million, which now represents 1.7% of the company's holdings.
• Several hedge funds, including Public Investment Fund and Goldman Sachs Group Inc., have increased their positions in Bloom Energy, indicating strong institutional interest in the stock.
• Bloom Energy's stock price saw an increase in target estimates from multiple analysts, with JPMorgan Chase raising its target from $40 to $90, reflecting growing optimism about the company's potential.

Family CFO Inc cut its holdings in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 141,173 shares of the company's stock after selling 6,000 shares during the period. Bloom Energy accounts for about 1.7% of Family CFO Inc's holdings, making the stock its 13th biggest position. Family CFO Inc owned approximately 0.06% of Bloom Energy worth $3,377,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Public Investment Fund grew its position in Bloom Energy by 16.8% in the 1st quarter. Public Investment Fund now owns 3,803,770 shares of the company's stock valued at $74,782,000 after buying an additional 546,372 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Bloom Energy by 29.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,611,925 shares of the company's stock valued at $71,010,000 after buying an additional 821,814 shares during the last quarter. Goldman Sachs Group Inc. grew its position in 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 during the last quarter. Northern Trust Corp grew its position in Bloom Energy by 3.2% in the 1st quarter. Northern Trust Corp now owns 1,916,535 shares of the company's stock valued at $37,679,000 after buying an additional 60,141 shares during the last quarter. Finally, Tree Line Advisors Hong Kong Ltd. purchased a new position in Bloom Energy in the 1st quarter valued at $22,609,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on BE. Robert W. Baird lifted their price objective on shares of Bloom Energy from $45.00 to $61.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. Susquehanna lifted their price objective on shares of Bloom Energy from $26.00 to $30.00 and gave the company a "positive" rating in a research report on Monday, July 21st. UBS Group reiterated an "underperform" rating on shares of Bloom Energy in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Bloom Energy from $40.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Mizuho lowered shares of Bloom Energy from an "outperform" rating to a "neutral" rating and boosted their target price for the stock from $48.00 to $79.00 in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $43.82.

Bloom Energy Price Performance

Bloom Energy stock opened at $87.99 on Friday. Bloom Energy Corporation has a 52 week low of $9.02 and a 52 week high of $92.16. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. The firm's 50-day simple moving average is $55.41 and its 200 day simple moving average is $32.76. The firm has a market capitalization of $20.59 billion, a PE ratio of 2,200.30 and a beta of 3.48.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.10 EPS for the quarter, topping 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 business had revenue of $401.24 million for the quarter, compared to analyst estimates of $382.23 million. During the same period in the previous year, the firm earned ($0.06) EPS. The business's revenue for the quarter was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Maciej Kurzymski sold 2,474 shares of the business's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $70.47, for a total value of $174,342.78. Following the sale, the insider directly owned 106,374 shares in the company, valued at $7,496,175.78. The trade was a 2.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Satish Chitoori sold 400 shares of the company's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $71.16, for a total transaction of $28,464.00. Following the completion of the transaction, the insider owned 231,965 shares in the company, valued at approximately $16,506,629.40. This trade represents a 0.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 302,205 shares of company stock worth $14,919,283. 3.60% of the stock is owned by company insiders.

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.

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