Bloom Energy Corporation (NYSE:BE) Shares Sold by Trivest Advisors Ltd

Key Points

• Trivest Advisors Ltd has decreased its stake in Bloom Energy Corporation by 53.9%, selling 740,600 shares and retaining 634,400 shares, which represent about 1.1% of its investment portfolio.
• Several large institutional investors have made significant changes to their positions in Bloom Energy, with SIR Capital Management L.P. increasing its holdings by 155.1% in the previous quarter.
• Bloom Energy reported a net margin of 0.29% and a revenue increase of 38.5% year-over-year, topping analysts' expectations with $326.02 million in revenue for the quarter.

Trivest Advisors Ltd lessened its holdings in Bloom Energy Corporation (NYSE:BE - Free Report) by 53.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 634,400 shares of the company's stock after selling 740,600 shares during the period. Bloom Energy comprises about 1.1% of Trivest Advisors Ltd's portfolio, making the stock its 13th largest holding. Trivest Advisors Ltd owned 0.28% of Bloom Energy worth $12,472,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Thrivent Financial for Lutherans purchased a new stake in Bloom Energy during the 4th quarter worth approximately $216,000. Teacher Retirement System of Texas acquired a new position in Bloom Energy in the fourth quarter valued at approximately $214,000. KLP Kapitalforvaltning AS acquired a new position in Bloom Energy in the fourth quarter valued at approximately $944,000. Vanguard Group Inc. lifted its stake in Bloom Energy by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company's stock worth $427,194,000 after purchasing an additional 356,317 shares in the last quarter. Finally, Blair William & Co. IL acquired a new position in Bloom Energy during the fourth quarter worth $291,000. Hedge funds and other institutional investors own 77.04% of the company's stock.

Insider Activity at Bloom Energy

In other news, CEO Kr Sridhar sold 42,383 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $19.14, for a total transaction of $811,210.62. Following the completion of the sale, the chief executive officer directly owned 2,724,613 shares of the company's stock, valued at $52,149,092.82. The trade was a 1.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Maciej Kurzymski sold 1,012 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $25.27, for a total transaction of $25,573.24. Following the sale, the insider directly owned 108,848 shares of the company's stock, valued at $2,750,588.96. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,513 shares of company stock worth $1,261,765. 3.60% of the stock is owned by corporate insiders.

Bloom Energy Price Performance

Shares of Bloom Energy stock traded down $0.90 during trading on Friday, hitting $36.49. 15,519,621 shares of the company were exchanged, compared to its average volume of 7,032,712. The company has a quick ratio of 2.39, a current ratio of 3.44 and a debt-to-equity ratio of 2.07. Bloom Energy Corporation has a fifty-two week low of $9.02 and a fifty-two week high of $39.09. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of -729.65 and a beta of 3.22. The firm has a 50 day moving average price of $23.80 and a 200 day moving average price of $22.27.

Bloom Energy (NYSE:BE - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.02 by $0.08. The firm had revenue of $401.24 million during the quarter, compared to analysts' expectations of $382.23 million. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. Bloom Energy's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.06) EPS. On average, equities analysts expect that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BE. HSBC upgraded Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price objective on the stock in a research note on Tuesday, April 8th. Piper Sandler dropped their price objective on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Mizuho raised their price objective on Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Wells Fargo & Company raised their price target on Bloom Energy from $22.00 to $38.00 and gave the stock an "equal weight" rating in a report on Friday. Finally, UBS Group raised their price target on Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.39.

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.