LPL Financial LLC Has $2.39 Million Stock Holdings in Bloom Energy Corporation $BE

Key Points

• LPL Financial LLC reduced its holdings in Bloom Energy Corporation by 31.9%, now owning 121,311 shares valued at approximately $2.39 million.
• Several analysts have a mixed outlook on Bloom Energy, with target price changes ranging from $19.00 to $38.00, and an average rating of "Moderate Buy."
• Insider transactions include significant sales, with one insider selling 20,000 shares for $900,000, indicating potential profit-taking ahead of expected financial forecasts.

LPL Financial LLC lessened its holdings in Bloom Energy Corporation (NYSE:BE - Free Report) by 31.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 121,311 shares of the company's stock after selling 56,758 shares during the quarter. LPL Financial LLC owned 0.05% of Bloom Energy worth $2,385,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of BE. Quarry LP acquired a new stake in shares of Bloom Energy during the 4th quarter valued at $35,000. ORG Wealth Partners LLC acquired a new stake in shares of Bloom Energy during the 1st quarter valued at $41,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Bloom Energy during the 4th quarter valued at $49,000. CWM LLC boosted its holdings in shares of Bloom Energy by 23.7% during the 1st quarter. CWM LLC now owns 3,360 shares of the company's stock valued at $66,000 after acquiring an additional 644 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Bloom Energy by 47.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,373 shares of the company's stock valued at $66,000 after acquiring an additional 1,081 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BE shares. Truist Financial cut their target price on Bloom Energy from $22.00 to $19.00 and set a "hold" rating on the stock in a report on Monday, April 21st. JPMorgan Chase & Co. raised Bloom Energy from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $18.00 to $33.00 in a report on Wednesday, July 9th. Susquehanna lifted their target price on Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a report on Monday, July 21st. Mizuho lifted their target price on Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Finally, Wells Fargo & Company lifted their price objective on Bloom Energy from $22.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Bloom Energy has an average rating of "Moderate Buy" and a consensus target price of $26.39.

Insider Buying and Selling

In related news, insider Satish Chitoori sold 20,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $45.00, for a total transaction of $900,000.00. Following the completion of the transaction, the insider directly owned 234,493 shares in the company, valued at $10,552,185. The trade was a 7.86% 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, insider Shawn Marie Soderberg sold 45,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $43.31, for a total value of $1,948,950.00. Following the transaction, the insider owned 229,682 shares of the company's stock, valued at approximately $9,947,527.42. The trade was a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,057 shares of company stock valued at $3,512,484 in the last ninety days. 3.50% of the stock is owned by company insiders.

Bloom Energy Stock Performance

Shares of BE opened at $46.57 on Tuesday. The firm has a market cap of $10.90 billion, a PE ratio of 1,164.54 and a beta of 3.28. The stock's fifty day moving average price is $29.07 and its two-hundred day moving average price is $23.70. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21. Bloom Energy Corporation has a 1 year low of $9.02 and a 1 year high of $47.21.

Bloom Energy (NYSE:BE - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.08. The firm had revenue of $401.24 million for the quarter, compared to analyst estimates of $382.23 million. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%. The business's revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) earnings per share. On average, equities research analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current 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.

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