Principal Financial Group Inc. Has $193,000 Stake in Bloom Energy Co. (NYSE:BE)

Principal Financial Group Inc. cut its stake in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 94.4% in the third quarter, according to its most recent disclosure with the SEC. The firm 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 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC grew its holdings in Bloom Energy by 1,490.8% in the 3rd quarter. International Assets Investment Management LLC now owns 185,328 shares of the company's stock valued at $19,570,000 after buying an additional 173,678 shares in the last quarter. Van ECK Associates Corp raised its stake in Bloom Energy by 13.1% during the third quarter. Van ECK Associates Corp now owns 661,932 shares of the company's stock worth $6,990,000 after purchasing an additional 76,536 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Bloom Energy by 762.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 504,591 shares of the company's stock valued at $5,712,000 after purchasing an additional 446,074 shares during the last quarter. DigitalBridge Group Inc. grew its stake in shares of Bloom Energy by 66.3% in the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company's stock valued at $14,203,000 after buying an additional 462,581 shares during the period. Finally, Artemis Investment Management LLP increased its holdings in shares of Bloom Energy by 20.5% during the 3rd quarter. Artemis Investment Management LLP now owns 738,673 shares of the company's stock worth $7,800,000 after buying an additional 125,757 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on BE. UBS Group boosted their target price on Bloom Energy from $21.00 to $33.00 and gave the stock a "buy" rating in a research note on Tuesday. HSBC lowered shares of Bloom Energy from a "buy" rating to a "hold" rating and set a $24.50 target price on the stock. in a research note on Wednesday, November 20th. BTIG Research increased their price objective on shares of Bloom Energy from $16.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Bank of America lowered their target price on shares of Bloom Energy from $8.00 to $7.00 and set an "underperform" rating for the company in a research note on Thursday, November 7th. Finally, Piper Sandler raised their price target on Bloom Energy from $20.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $19.18.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the company's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $24.56, for a total value 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. This represents a 0.76 % 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, CEO Kr Sridhar sold 46,697 shares of Bloom Energy stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total value of $1,167,425.00. Following the completion of the transaction, the chief executive officer now owns 1,822,496 shares in the company, valued at $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. Over the last quarter, insiders sold 122,975 shares of company stock valued at $3,045,019. 3.50% of the stock is currently owned by corporate insiders.

Bloom Energy Stock Performance

Shares of BE stock traded up $0.23 during trading hours on Tuesday, reaching $26.18. The stock had a trading volume of 8,646,151 shares, compared to its average volume of 6,532,877. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The firm has a 50-day simple moving average of $12.54 and a 200-day simple moving average of $12.82. The firm has a market capitalization of $5.98 billion, a PE ratio of -46.20 and a beta of 2.71. Bloom Energy Co. has a twelve month low of $8.41 and a twelve month high of $26.92.

Bloom Energy Company 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.