Wellington Management Group LLP Raises Holdings in Bloom Energy Co. (NYSE:BE)

Wellington Management Group LLP raised its stake in shares of Bloom Energy Co. (NYSE:BE) by 306.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,383,897 shares of the company’s stock after buying an additional 1,043,326 shares during the quarter. Wellington Management Group LLP’s holdings in Bloom Energy were worth $30,736,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BE. Vanguard Group Inc. raised its position in shares of Bloom Energy by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company’s stock valued at $427,194,000 after buying an additional 356,317 shares during the last quarter. Norges Bank purchased a new stake in Bloom Energy in the 4th quarter worth approximately $93,951,000. Charles Schwab Investment Management Inc. raised its holdings in Bloom Energy by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company’s stock valued at $36,737,000 after acquiring an additional 10,265 shares during the last quarter. Elemental Capital Partners LLC acquired a new stake in shares of Bloom Energy during the fourth quarter worth $33,612,000. Finally, Trivest Advisors Ltd purchased a new stake in shares of Bloom Energy in the fourth quarter valued at $30,539,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Insider Buying and Selling at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the transaction, the insider now owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following 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 disclosure for this sale can be found here. 8.81% of the stock is owned by corporate insiders.

Bloom Energy Price Performance

BE stock opened at $16.65 on Monday. The stock has a 50-day simple moving average of $23.31 and a 200-day simple moving average of $20.17. The firm has a market cap of $3.84 billion, a P/E ratio of -29.73 and a beta of 3.27. 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 1 year low of $9.02 and a 1 year high of $29.83.

Wall Street Analyst Weigh In

BE has been the subject of several analyst reports. Roth Capital upgraded Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. Morgan Stanley increased their price objective on shares of Bloom Energy from $28.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Piper Sandler decreased their target price on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. BTIG Research increased their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Mizuho initiated coverage on shares of Bloom Energy in a report on Tuesday, March 18th. They issued a “neutral” rating and a $28.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $25.06.

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.