Sumitomo Mitsui Trust Group Inc. Decreases Holdings in Bloom Energy Corporation $BE

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Bloom Energy Corporation (NYSE:BE) by 64.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,285 shares of the company’s stock after selling 141,148 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Bloom Energy were worth $6,536,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in BE. Elevation Point Wealth Partners LLC purchased a new stake in Bloom Energy during the second quarter valued at $36,000. NewEdge Advisors LLC boosted its stake in shares of Bloom Energy by 674.7% during the first quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock valued at $37,000 after purchasing an additional 1,626 shares during the period. Cranbrook Wealth Management LLC bought a new position in Bloom Energy during the 3rd quarter worth about $39,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Bloom Energy in the 3rd quarter worth $42,000. Finally, ORG Partners LLC purchased a new stake in Bloom Energy during the third quarter valued at approximately $49,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Bank of America upped their target price on shares of Bloom Energy from $26.00 to $39.00 and gave the stock an “underperform” rating in a report on Tuesday, November 25th. UBS Group raised their target price on shares of Bloom Energy to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Susquehanna upped their price target on Bloom Energy to $157.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. BMO Capital Markets set a $136.00 price objective on Bloom Energy in a research report on Wednesday, October 29th. Finally, TD Cowen upped their target price on Bloom Energy to $105.00 and gave the company a “hold” rating in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and a consensus target price of $96.00.

Insider Activity

In other news, insider Aman Joshi sold 4,543 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $109.13, for a total transaction of $495,777.59. Following the completion of the transaction, the insider directly owned 219,818 shares in the company, valued at approximately $23,988,738.34. The trade was a 2.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 1,583 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $105.97, for a total transaction of $167,750.51. Following the transaction, the insider directly owned 221,633 shares in the company, valued at approximately $23,486,449.01. The trade was a 0.71% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 120,410 shares of company stock worth $16,557,185. Insiders own 3.60% of the company’s stock.

Bloom Energy Trading Up 7.3%

Shares of Bloom Energy stock opened at $149.30 on Friday. The company has a market capitalization of $35.31 billion, a P/E ratio of 773.17, a PEG ratio of 12.59 and a beta of 3.01. Bloom Energy Corporation has a 1 year low of $15.15 and a 1 year high of $150.84. The company’s fifty day moving average is $105.62 and its two-hundred day moving average is $79.72. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40.

Bloom Energy (NYSE:BE) last announced its earnings results on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The firm had revenue of $519.05 million for the quarter, compared to analysts’ expectations of $425.18 million. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.Bloom Energy’s quarterly revenue was up 57.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.01) EPS. Analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

About Bloom Energy

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.