Bloom Energy’s chief legal officer sells $427,868 in stock

Shawn Marie Soderberg, Chief Legal Officer and Corporate Secretary at Bloom Energy Corp (NYSE:BE), recently sold shares of the company in two separate transactions. On February 14, Soderberg sold 10,486 shares of Class A Common Stock at a weighted average price of $25.31, totaling approximately $265,400. This sale was made to cover tax withholding obligations from restricted stock unit settlements. The transaction comes as Bloom Energy, currently valued at $6.05 billion, has seen its stock surge 163% over the past year and 17% year-to-date.

A subsequent transaction on February 18 involved the sale of an additional 6,339 shares at an average price of $25.63, amounting to about $162,468. This sale was also executed to cover tax obligations related to restricted and performance stock units, as part of a pre-established trading plan under Rule 10b5-1. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, with significant price volatility noted among its key characteristics.

Following these transactions, Soderberg holds 155,670 shares directly and maintains indirect ownership of 396,731 shares through The Shawn M. Soderberg 2005 Trust. For deeper insights into Bloom Energy’s valuation and 13 additional ProTips, visit InvestingPro.

In other recent news, Bloom Energy has announced a partnership with Chart Industries (NYSE:GTLS) to focus on carbon capture technology using natural gas and fuel cells. This collaboration aims to offer customers near-zero-carbon power generation options, leveraging existing fuel infrastructure. In addition to this development, Piper Sandler raised the price target for Bloom Energy shares to $33, maintaining an Overweight rating, reflecting a positive outlook on the company’s market opportunities and growth potential. Baird also significantly increased its price target for Bloom Energy to $32 from $15, citing strong commercial traction and recent utility deals, particularly with American Electric Power (NASDAQ:AEP).

Meanwhile, Jefferies adjusted its price target for Bloom Energy shares to $21 from $22, maintaining a Hold rating, while projecting a fourth-quarter performance that surpasses forecasts with revenues anticipated to be approximately 6% higher than consensus estimates. Roth/MKM initiated coverage on Bloom Energy with a Neutral rating and set a price target of $25, highlighting the company’s leading role in the hydrogen fuel cell industry. These recent developments underscore Bloom Energy’s strategic moves and analysts’ varied perspectives on its future prospects.

Overall, investors are closely monitoring Bloom Energy’s progress, especially as it continues to secure large-scale contracts and explore carbon capture opportunities. The company’s recent activities and analyst evaluations reflect a dynamic period for Bloom Energy as it navigates the evolving energy landscape.

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