Bloom Energy exec sells over $20k in company stock By Investing.com

Shawn Marie Soderberg, the Chief Legal Officer and Corporate Secretary of Bloom Energy Corp (NYSE:), has recently engaged in transactions involving the company’s stock, according to the latest SEC filings. Soderberg sold a total of 2,160 shares of Class A Common Stock at an average price of $9.31, netting a total of $20,109.

The transactions took place on March 18th, with the sale prices ranging from $9.17 to $9.51 per share. This sale was executed to cover tax withholding obligations that arose from the settlement of performance stock units, as part of a prearranged Rule 10b5-1 trading plan established on February 24, 2023.

In addition to the sales, Soderberg also acquired 75,000 shares of Class A Common Stock on March 1st as restricted stock units under the company’s 2018 Equity Incentive Plan. These units are set to vest partially in February 2025, with the remainder vesting in quarterly installments over the following two years, conditional upon Soderberg’s continued service.

Furthermore, on March 15th, Soderberg acquired 6,063 shares through the exercise of performance stock units, which were granted based on the achievement of certain financial performance criteria. These shares were acquired at no cost, and they increased Soderberg’s direct holdings to 155,009 shares of Class A Common Stock. The performance stock units represent a contingent right to receive shares of the company’s stock upon settlement.

It’s also noted that Soderberg holds an indirect interest in 396,731 shares of Class A Common Stock through The Shawn M. Soderberg 2005 Trust, where they serve as the trustee.

Investors and market watchers often look to insider transactions such as these for insights into executive sentiment about the company’s future prospects. Bloom Energy Corp, specializing in electrical industrial apparatus, is known for its innovative energy solutions and continues to be a significant player in the sustainable energy industry.

InvestingPro Insights

As market participants analyze the recent insider transactions of Shawn Marie Soderberg at Bloom Energy Corp (NYSE:BE), it’s vital to consider the company’s financial health and stock performance for a fuller picture. With a market capitalization of $2.13 billion, Bloom Energy’s valuation and stock dynamics offer additional context to Soderberg’s activities.

One of the InvestingPro Tips for Bloom Energy notes that the company’s net income is expected to grow this year, which might provide a positive outlook on the company’s future profitability and could be a factor in Soderberg’s decision to acquire additional shares. Meanwhile, another tip points out that the stock price has been quite volatile, with a significant drop of over 31% in the past three months and a decline of about 45% from its 52-week high, which might have influenced the timing of Soderberg’s transactions.

From the InvestingPro Data, we can see that Bloom Energy is trading at a high Price/Book multiple of 4.24 as of the last twelve months ending in Q4 2023. Despite the company’s revenue growth of 11.2% during the same period, the quarterly revenue saw a decline of 22.84% in Q1 2023. Additionally, the company’s Price/Earnings (P/E) ratio stands at -6.63, reflecting challenges in profitability over the last twelve months.

For investors seeking a deeper dive into Bloom Energy’s financials and stock performance, InvestingPro offers a comprehensive suite of tools and additional tips. Readers can use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which includes access to a total of 11 InvestingPro Tips for Bloom Energy. These tips can provide valuable insights for making informed investment decisions.

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