Legal & General Group Plc Buys 144,616 Shares of Bloom Energy Co. (NYSE:BE)

Legal & General Group Plc grew its position in shares of Bloom Energy Co. (NYSE:BE) by 7.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,133,318 shares of the company’s stock after buying an additional 144,616 shares during the quarter. Legal & General Group Plc owned 0.93% of Bloom Energy worth $47,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of BE. Mainstream Capital Management LLC purchased a new stake in shares of Bloom Energy during the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC grew its position in Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after buying an additional 934 shares during the period. Jones Financial Companies Lllp increased its holdings in Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after buying an additional 812 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Bloom Energy during the 3rd quarter worth $34,000. Finally, Avior Wealth Management LLC bought a new stake in shares of Bloom Energy during the 4th quarter valued at $40,000. Institutional investors own 77.04% of the company’s stock.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the transaction, the insider now owns 171,040 shares in the company, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Satish Chitoori sold 1,020 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the sale, the insider now directly owns 178,656 shares of the company’s stock, valued at $4,482,479.04. The trade was a 0.57 % decrease in their position. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BE. JPMorgan Chase & Co. lifted their target price on Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Mizuho began coverage on shares of Bloom Energy in a report on Tuesday, March 18th. They issued a “neutral” rating and a $28.00 target price on the stock. Bank of America reduced 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. Piper Sandler lowered their price target on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, Morgan Stanley boosted their price objective on shares of Bloom Energy from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.29.

Bloom Energy Stock Performance

Shares of BE opened at $17.63 on Friday. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The firm has a market cap of $4.06 billion, a PE ratio of -31.48 and a beta of 3.27. Bloom Energy Co. has a 12 month low of $9.02 and a 12 month high of $29.83. The stock has a fifty day moving average price of $22.56 and a 200-day moving average price of $20.37.

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.