Robertson Stephens Wealth Management LLC Has $241,000 Position in Bloom Energy Co. (NYSE:BE)

Robertson Stephens Wealth Management LLC lifted its position in shares of Bloom Energy Co. (NYSE:BE) by 22.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 16,293 shares of the company’s stock after buying an additional 3,000 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Bloom Energy were worth $241,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tsfg LLC raised its stake in Bloom Energy by 11.1% during the fourth quarter. Tsfg LLC now owns 10,006 shares of the company’s stock worth $148,000 after buying an additional 1,000 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Bloom Energy by 17.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock worth $102,000 after acquiring an additional 1,117 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Bloom Energy by 7.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 34,725 shares of the company’s stock valued at $460,000 after purchasing an additional 2,270 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Bloom Energy by 4.2% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 58,517 shares of the company’s stock worth $906,000 after purchasing an additional 2,379 shares during the period. Finally, Millburn Ridgefield Corp bought a new stake in Bloom Energy in the third quarter worth approximately $33,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Robert W. Baird upgraded shares of Bloom Energy from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $16.00 to $22.00 in a research report on Wednesday, January 10th. Bank of America lowered Bloom Energy from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $16.00 to $10.00 in a report on Monday, January 29th. Morgan Stanley restated an “overweight” rating and set a $22.00 price objective on shares of Bloom Energy in a report on Monday, March 25th. KeyCorp cut Bloom Energy from an “overweight” rating to a “sector weight” rating in a report on Friday, February 16th. Finally, Truist Financial upgraded shares of Bloom Energy from a “sell” rating to a “hold” rating and upped their price objective for the stock from $9.00 to $11.00 in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.69.

Insider Buying and Selling at Bloom Energy

In other news, EVP Shawn Marie Soderberg sold 13,120 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $9.34, for a total transaction of $122,540.80. Following the completion of the transaction, the executive vice president now owns 73,946 shares in the company, valued at approximately $690,655.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Kr Sridhar sold 50,746 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $9.74, for a total transaction of $494,266.04. Following the sale, the chief executive officer now directly owns 2,702,608 shares in the company, valued at approximately $26,323,401.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Shawn Marie Soderberg sold 13,120 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $9.34, for a total transaction of $122,540.80. Following the completion of the transaction, the executive vice president now directly owns 73,946 shares of the company’s stock, valued at $690,655.64. The disclosure for this sale can be found here. Insiders have sold a total of 74,989 shares of company stock worth $725,292 over the last ninety days. 8.81% of the stock is currently owned by company insiders.

Bloom Energy Stock Performance

BE opened at $11.80 on Friday. Bloom Energy Co. has a fifty-two week low of $8.41 and a fifty-two week high of $18.76. The firm has a 50-day moving average of $10.32 and a 200 day moving average of $11.67. The company has a debt-to-equity ratio of 2.41, a quick ratio of 2.53 and a current ratio of 3.60.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.11. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. The company had revenue of $356.92 million during the quarter, compared to analyst estimates of $481.90 million. As a group, sell-side analysts forecast that Bloom Energy Co. will post -0.16 EPS for the current fiscal year.

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.