Zevenbergen Capital Investments LLC Sells 5,650 Shares of Bloom Energy Corporation $BE

Key Points

• Zevenbergen Capital Investments LLC has reduced its stake in Bloom Energy Corporation by 4.6%, selling 5,650 shares, bringing its total holdings to 118,200 shares valued at approximately $2.827 million.
• Several analyst firms have raised their price targets for Bloom Energy, with UBS Group setting a new target of $41.00 and Wells Fargo reaching $65.00, indicating positive prospects for the stock.
• Insider selling activity at Bloom Energy has increased, with notable transactions including 8,733 shares sold by insider Maciej Kurzymski and 20,000 shares sold by Satish Chitoori, suggesting potential concerns about the stock’s future performance.

Zevenbergen Capital Investments LLC lowered its position in Bloom Energy Corporation (NYSE:BE - Free Report) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 118,200 shares of the company's stock after selling 5,650 shares during the period. Zevenbergen Capital Investments LLC owned 0.05% of Bloom Energy worth $2,827,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Harbour Investments Inc. raised its position in shares of Bloom Energy by 2,160.0% in the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock worth $31,000 after acquiring an additional 1,512 shares in the last quarter. Banque Transatlantique SA raised its position in shares of Bloom Energy by 227.6% in the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock worth $30,000 after acquiring an additional 1,161 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Bloom Energy by 674.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company's stock worth $37,000 after acquiring an additional 1,626 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of Bloom Energy in the 1st quarter worth approximately $41,000. Finally, Vision Financial Markets LLC bought a new position in shares of Bloom Energy in the 1st quarter worth approximately $39,000. Institutional investors own 77.04% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BE. Roth Capital increased their target price on Bloom Energy from $20.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Mizuho raised their price objective on Bloom Energy from $26.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. raised Bloom Energy from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $18.00 to $33.00 in a research report on Wednesday, July 9th. UBS Group raised their price objective on Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Wells Fargo & Company raised their price objective on Bloom Energy from $38.00 to $65.00 and gave the company an "equal weight" rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Bloom Energy has an average rating of "Moderate Buy" and an average target price of $29.61.

Insiders Place Their Bets

In related news, insider Maciej Kurzymski sold 8,733 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $22.79, for a total value of $199,025.07. Following the sale, the insider directly owned 109,860 shares in the company, valued at approximately $2,503,709.40. The trade was a 7.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $900,000.00. Following the completion of the sale, the insider owned 234,493 shares in the company, valued at $10,552,185. This represents a 7.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 308,477 shares of company stock valued at $14,924,815. Insiders own 3.60% of the company's stock.

Bloom Energy Stock Performance

BE stock opened at $67.13 on Friday. The company has a market cap of $15.71 billion, a P/E ratio of 1,678.67 and a beta of 3.28. Bloom Energy Corporation has a 1 year low of $9.02 and a 1 year high of $68.74. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21. The stock's fifty day moving average price is $40.82 and its 200-day moving average price is $27.52.

Bloom Energy (NYSE:BE - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.08. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The company had revenue of $401.24 million for the quarter, compared to analysts' expectations of $382.23 million. During the same period last year, the firm earned ($0.06) EPS. Bloom Energy'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 analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share 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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