Bloom Energy Co. (NYSE:BE) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in Bloom Energy Co. (NYSE:BE - Free Report) by 94.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,305 shares of the company's stock after selling 306,204 shares during the period. Principal Financial Group Inc.'s holdings in Bloom Energy were worth $193,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of BE. B. Riley Wealth Advisors Inc. raised its stake in shares of Bloom Energy by 21.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 21,404 shares of the company's stock worth $226,000 after purchasing an additional 3,824 shares during the last quarter. Franklin Resources Inc. raised its position in Bloom Energy by 62.4% during the 3rd quarter. Franklin Resources Inc. now owns 125,598 shares of the company's stock worth $1,314,000 after buying an additional 48,258 shares during the last quarter. Peapack Gladstone Financial Corp raised its position in Bloom Energy by 4.4% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 271,924 shares of the company's stock worth $2,871,000 after buying an additional 11,525 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Bloom Energy during the 3rd quarter valued at approximately $34,000. Finally, Duff & Phelps Investment Management Co. purchased a new stake in shares of Bloom Energy in the 3rd quarter valued at $517,000. Hedge funds and other institutional investors own 77.04% of the company's stock.

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the transaction, the insider now owns 168,561 shares of the company's stock, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kr Sridhar sold 46,697 shares of the firm's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the sale, the chief executive officer now owns 1,822,496 shares of the company's stock, valued at approximately $45,562,400. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 122,975 shares of company stock worth $3,045,019 in the last ninety days. Insiders own 8.81% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Morgan Stanley increased their price target on Bloom Energy from $20.00 to $28.00 and gave the stock an "overweight" rating in a research report on Monday, November 18th. Truist Financial reduced their price target on Bloom Energy from $13.00 to $12.00 and set a "hold" rating for the company in a research report on Wednesday, October 16th. Roth Capital upgraded Bloom Energy to a "hold" rating in a research report on Tuesday, December 10th. Hsbc Global Res raised shares of Bloom Energy to a "hold" rating in a report on Wednesday, November 20th. Finally, Susquehanna increased their price target on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a "positive" rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $22.45.

Bloom Energy Price Performance

Shares of NYSE:BE traded down $0.47 during midday trading on Tuesday, hitting $25.01. The company's stock had a trading volume of 4,841,231 shares, compared to its average volume of 5,519,090. The company has a market cap of $5.72 billion, a P/E ratio of -44.66 and a beta of 3.06. Bloom Energy Co. has a 12-month low of $8.41 and a 12-month high of $28.70. The business's 50 day simple moving average is $21.60 and its 200 day simple moving average is $15.08. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

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.