Legal & General Group Plc Purchases 663,660 Shares of Fluence Energy, Inc. $FLNC

Key Points

• Legal & General Group Plc sharply increased its Fluence Energy stake by 882.1% in the fourth quarter, adding 663,660 shares to bring its total holdings to 738,898 shares worth about $14.6 million.
• Other institutional investors have also been active in FLNC, including large increases from Goldman Sachs, UBS, and Voloridge, while institutional ownership overall stands at 53.16%.
• Fluence Energy has seen mixed signals from analysts and insiders: several analysts rate the stock a Hold with an average price target of $19.47, while major shareholder Qatar Investment Authority recently sold 2.87 million shares.

Legal & General Group Plc grew its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 882.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 738,898 shares of the company's stock after buying an additional 663,660 shares during the period. Legal & General Group Plc owned 0.40% of Fluence Energy worth $14,615,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FLNC. Dragoneer Investment Group LLC bought a new stake in Fluence Energy in the 3rd quarter valued at about $65,883,000. Goldman Sachs Group Inc. boosted its position in Fluence Energy by 189.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company's stock worth $15,380,000 after purchasing an additional 2,076,668 shares during the period. UBS Group AG increased its stake in shares of Fluence Energy by 65.2% in the fourth quarter. UBS Group AG now owns 2,625,878 shares of the company's stock worth $51,940,000 after purchasing an additional 1,036,423 shares in the last quarter. Millennium Management LLC increased its stake in shares of Fluence Energy by 11.3% in the third quarter. Millennium Management LLC now owns 2,232,750 shares of the company's stock worth $24,114,000 after purchasing an additional 227,080 shares in the last quarter. Finally, Voloridge Investment Management LLC raised its position in shares of Fluence Energy by 82.6% in the third quarter. Voloridge Investment Management LLC now owns 1,965,083 shares of the company's stock valued at $21,223,000 after purchasing an additional 888,893 shares during the period. Institutional investors own 53.16% of the company's stock.

Insider Buying and Selling at Fluence Energy

In related news, major shareholder Qatar Investment Authority sold 2,867,172 shares of the business's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $21.00, for a total transaction of $60,210,612.00. Following the completion of the transaction, the insider directly owned 11,801,103 shares in the company, valued at $247,823,163. The trade was a 19.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Heynitz Harald Von sold 10,000 shares of the company's stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $16.50, for a total value of $165,000.00. Following the completion of the transaction, the director owned 63,550 shares in the company, valued at $1,048,575. This represents a 13.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.69% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on FLNC. Susquehanna raised their price objective on shares of Fluence Energy from $23.00 to $25.00 and gave the stock a "positive" rating in a report on Friday, May 8th. BMO Capital Markets reissued a "market perform" rating and set a $15.00 target price on shares of Fluence Energy in a report on Wednesday, April 29th. Bank of America set a $32.00 target price on Fluence Energy in a research report on Tuesday, February 3rd. Needham & Company LLC started coverage on Fluence Energy in a report on Friday, March 20th. They issued a "hold" rating for the company. Finally, Jefferies Financial Group set a $24.00 price target on Fluence Energy in a research report on Monday, February 9th. Five research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $19.47.

Fluence Energy Stock Performance

Fluence Energy stock opened at $27.91 on Wednesday. Fluence Energy, Inc. has a 1-year low of $4.40 and a 1-year high of $33.51. The company has a current ratio of 1.43, a quick ratio of 0.91 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $5.14 billion, a PE ratio of -77.53 and a beta of 2.77. The firm's 50 day simple moving average is $16.45 and its 200 day simple moving average is $19.04.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, beating analysts' consensus estimates of ($0.18) by $0.02. The firm had revenue of $464.89 million during the quarter, compared to analyst estimates of $614.93 million. Fluence Energy had a negative net margin of 1.62% and a negative return on equity of 8.29%. The business's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.24) EPS. As a group, analysts expect that Fluence Energy, Inc. will post -0.22 earnings per share for the current fiscal year.

Fluence Energy Profile

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company's core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.

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.