Wellington Management Group LLP Sells 665,744 Shares of Bloom Energy Corporation $BE

Key Points

• Wellington Management Group LLP has significantly reduced its holdings in Bloom Energy by 48.1% during the first quarter, now owning approximately 0.31% of the company worth $14.1 million after selling 665,744 shares.
• Bloom Energy's shares showed strong performance, opening at $50.02, and achieved a market capitalization of $11.70 billion, with a PE ratio of 1,250.81.
• Insider trading activity included significant sales, with one insider selling 45,000 shares at an average price of $43.31, indicating a strategic move amid fluctuating stock performance.

Wellington Management Group LLP trimmed its stake in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 48.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 718,153 shares of the company's stock after selling 665,744 shares during the quarter. Wellington Management Group LLP owned about 0.31% of Bloom Energy worth $14,119,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Northern Trust Corp lifted its position in shares of Bloom Energy by 3.2% during the 1st quarter. Northern Trust Corp now owns 1,916,535 shares of the company's stock valued at $37,679,000 after acquiring an additional 60,141 shares during the period. Voloridge Investment Management LLC lifted its position in shares of Bloom Energy by 323.6% during the 4th quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company's stock worth $31,992,000 after buying an additional 1,100,352 shares during the last quarter. DigitalBridge Group Inc. lifted its position in shares of Bloom Energy by 5.7% during the 4th quarter. DigitalBridge Group Inc. now owns 1,418,257 shares of the company's stock worth $31,499,000 after buying an additional 75,974 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Bloom Energy by 98.6% during the 4th quarter. Two Sigma Advisers LP now owns 1,380,034 shares of the company's stock worth $30,651,000 after buying an additional 685,100 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its position in shares of Bloom Energy by 7.2% during the 1st quarter. Raymond James Financial Inc. now owns 947,522 shares of the company's stock worth $18,628,000 after buying an additional 63,730 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BE shares. Susquehanna upped their price objective on Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a research report on Monday, July 21st. Morgan Stanley upped their price objective on Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Mizuho upped their price objective on Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. UBS Group upped their price objective on Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. upgraded Bloom Energy from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $18.00 to $33.00 in a research report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.39.

Bloom Energy Price Performance

BE traded down $1.80 on Monday, reaching $53.00. The stock had a trading volume of 10,193,037 shares, compared to its average volume of 10,662,528. Bloom Energy Corporation has a fifty-two week low of $9.02 and a fifty-two week high of $55.07. The firm has a 50-day moving average of $33.89 and a 200-day moving average of $25.24. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $12.40 billion, a price-to-earnings ratio of 1,325.33 and a beta of 3.28.

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, topping analysts' consensus estimates of $0.02 by $0.08. The business had revenue of $401.24 million during the quarter, compared to analysts' expectations 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 for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Buying and Selling

In other Bloom Energy news, insider Aman Joshi sold 4,870 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $43.36, for a total value of $211,163.20. Following the transaction, the insider owned 224,361 shares in the company, valued at approximately $9,728,292.96. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Satish Chitoori sold 2,128 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $43.44, for a total value of $92,440.32. Following the completion of the transaction, the insider owned 232,365 shares in the company, valued at approximately $10,093,935.60. The trade was a 0.91% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 308,477 shares of company stock worth $14,924,815. Corporate insiders own 3.60% of the company's stock.

About Bloom Energy

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.