Sunday, 19 May 2024


Bloom Energy CEO Sridhar sells stock worth over $478,000 By

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Bloom Energy Corp ‘s (NYSE:) Chairman and CEO, Sridhar KR, has recently sold a significant number of shares in the company. The transactions, which took place over a series of trades, resulted in a total sale worth $478,536.

The shares were sold at prices ranging from $11.28 to $12.28, with the weighted average sale price per share coming in at $11.93. This sale was part of a planned transaction set up under a Rule 10b5-1 trading plan, which allows company insiders to sell stocks at predetermined times to avoid any accusations of insider trading.

The CEO’s sale of 40,112 shares on May 13th reduced his direct ownership in the company but still left him with a substantial stake. Following the sale, Sridhar KR directly owns 2,742,496 shares of Bloom Energy’s Class A Common Stock. Additionally, there are shares held indirectly by trusts for which Sridhar is a trustee, amounting to 721,106 shares, and others for the benefit of his children, totaling 537,487 shares. Another 503,052 shares are held by trusts with Sridhar as a trustee.

These transactions come as part of Sridhar KR’s financial planning and do not necessarily indicate a lack of confidence in the company’s future. Investors often monitor insider buying and selling as it can provide insights into the leadership’s view of the company’s valuation and prospects.

For those interested in the broader context of the CEO’s holdings, it should be noted that these sales are just a portion of his overall investment in Bloom Energy. The company, known for its electrical industrial apparatus manufacturing, remains a significant player in its sector, and executive movements like these are commonplace in the corporate world.

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InvestingPro Insights

Amidst the news of the CEO’s recent stock sale, Bloom Energy Corp’s (NYSE:BE) financials and market performance offer additional context for investors. According to InvestingPro data, Bloom Energy has a market capitalization of $2.83 billion. The company has been trading at a high Price / Book multiple of 6.07 as of the last twelve months leading up to Q1 2024. Despite a slight revenue growth of 1.59% during the same period, Bloom Energy has faced challenges, with its revenue declining by 14.5% in Q1 2024 compared to the previous quarter.

Investors may find interest in the company’s stock price movements, which have shown significant volatility. The InvestingPro Tips highlight…

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