Bloom Energy Co. (NYSE:BE) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in Bloom Energy Co. (NYSE:BE - Free Report) by 46.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 218,377 shares of the company's stock after selling 190,921 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.10% of Bloom Energy worth $4,850,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Millburn Ridgefield Corp raised its stake in shares of Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company's stock valued at $25,000 after acquiring an additional 528 shares during the period. GAMMA Investing LLC raised its stake in shares of Bloom Energy by 26.8% in the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company's stock valued at $60,000 after acquiring an additional 569 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Bloom Energy by 2.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 47,400 shares of the company's stock valued at $1,053,000 after acquiring an additional 1,000 shares during the period. Kovitz Investment Group Partners LLC raised its stake in shares of Bloom Energy by 3.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company's stock valued at $374,000 after acquiring an additional 1,349 shares during the period. Finally, Avior Wealth Management LLC purchased a new stake in shares of Bloom Energy in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 77.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. BMO Capital Markets upped their price target on shares of Bloom Energy from $12.00 to $19.50 and gave the stock a "market perform" rating in a report on Friday, November 15th. Truist Financial upped their price target on shares of Bloom Energy from $11.00 to $22.00 and gave the stock a "hold" rating in a report on Thursday, January 16th. Jefferies Financial Group increased their target price on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a "hold" rating in a report on Friday, November 22nd. Royal Bank of Canada increased their target price on shares of Bloom Energy from $15.00 to $28.00 and gave the stock an "outperform" rating in a report on Monday, November 18th. Finally, Piper Sandler increased their target price on shares of Bloom Energy from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $24.18.

Bloom Energy Stock Up 3.1 %

Shares of Bloom Energy stock traded up $0.76 on Monday, reaching $25.47. The stock had a trading volume of 4,474,430 shares, compared to its average volume of 7,184,791. The company has a 50 day moving average price of $24.12 and a 200 day moving average price of $17.30. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a 1 year low of $8.41 and a 1 year high of $29.83. The stock has a market capitalization of $5.82 billion, a P/E ratio of -45.48 and a beta of 3.06.

Insider Buying and Selling

In related news, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the completion of the sale, the chief executive officer now directly owns 1,869,593 shares in the company, valued at $46,777,216.86. This trade represents a 3.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the sale, the insider now owns 171,040 shares of the company's stock, valued at $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,239 shares of company stock worth $3,029,843 in the last three months. Corporate insiders own 8.81% 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.