Clearbridge Investments LLC Sells 166,842 Shares of Bloom Energy Co. (NYSE:BE)

Clearbridge Investments LLC cut its holdings in shares of Bloom Energy Co. (NYSE:BE) by 4.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,488,955 shares of the company’s stock after selling 166,842 shares during the quarter. Clearbridge Investments LLC’s holdings in Bloom Energy were worth $77,490,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BE. DnB Asset Management AS acquired a new position in Bloom Energy during the 4th quarter worth about $3,779,000. Pictet Asset Management Holding SA lifted its stake in shares of Bloom Energy by 21.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 106,019 shares of the company’s stock worth $2,355,000 after acquiring an additional 18,603 shares during the period. Norges Bank bought a new stake in Bloom Energy in the fourth quarter valued at approximately $93,951,000. Blair William & Co. IL acquired a new stake in Bloom Energy during the 4th quarter valued at approximately $291,000. Finally, Napean Trading & Investment Co Singapore PTE Ltd raised its holdings in Bloom Energy by 11.5% during the 4th quarter. Napean Trading & Investment Co Singapore PTE Ltd now owns 402,688 shares of the company’s stock worth $8,944,000 after purchasing an additional 41,631 shares during the last quarter. 77.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BE shares. Susquehanna increased their price objective on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research report on Friday, December 6th. Mizuho began coverage on Bloom Energy in a report on Tuesday, March 18th. They set a “neutral” rating and a $28.00 price target for the company. Bank of America dropped their price objective on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Roth Mkm assumed coverage on Bloom Energy in a research note on Wednesday, December 11th. They set a “neutral” rating and a $25.00 target price for the company. Finally, BTIG Research lifted their target price on Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $25.06.

Bloom Energy Price Performance

Shares of NYSE BE opened at $19.64 on Tuesday. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of -35.07 and a beta of 3.30. 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 Co. has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. The firm’s 50-day simple moving average is $23.92 and its 200 day simple moving average is $19.90.

Insider Transactions at Bloom Energy

In other news, insider Satish Chitoori sold 1,020 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares in the company, valued at $4,482,479.04. This represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the transaction, the insider now directly owns 171,040 shares in the company, valued at $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.