Arizona State Retirement System Raises Stock Holdings in Bloom Energy Corporation $BE

Arizona State Retirement System raised its position in shares of Bloom Energy Corporation (NYSE:BE) by 7.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,283 shares of the company’s stock after purchasing an additional 4,739 shares during the quarter. Arizona State Retirement System’s holdings in Bloom Energy were worth $5,521,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Resona Asset Management Co. Ltd. purchased a new stake in shares of Bloom Energy during the second quarter worth about $108,000. Mizuho Markets Americas LLC lifted its holdings in Bloom Energy by 29.9% in the 2nd quarter. Mizuho Markets Americas LLC now owns 395,490 shares of the company’s stock worth $9,460,000 after purchasing an additional 90,980 shares in the last quarter. Udine Wealth Management Inc. boosted its stake in Bloom Energy by 27.8% in the 3rd quarter. Udine Wealth Management Inc. now owns 62,967 shares of the company’s stock worth $5,325,000 after purchasing an additional 13,684 shares during the period. Straight Path Wealth Management purchased a new stake in Bloom Energy during the 3rd quarter valued at approximately $1,099,000. Finally, Huntleigh Advisors Inc. purchased a new stake in Bloom Energy during the 3rd quarter valued at approximately $766,000. 77.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BE shares. Wedbush set a $39.00 target price on shares of Bloom Energy in a report on Tuesday, November 25th. Jefferies Financial Group reiterated an “underperform” rating and issued a $92.00 price target on shares of Bloom Energy in a research note on Monday, January 26th. Wells Fargo & Company increased their price objective on shares of Bloom Energy to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Susquehanna raised their price objective on Bloom Energy to $157.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. boosted their target price on Bloom Energy to $129.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $109.83.

Insider Transactions at Bloom Energy

In other news, insider Aman Joshi sold 4,543 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $109.13, for a total transaction of $495,777.59. Following the transaction, the insider owned 219,818 shares of the company’s stock, valued at approximately $23,988,738.34. The trade was a 2.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Maciej Kurzymski sold 13,105 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $144.09, for a total value of $1,888,299.45. Following the sale, the insider owned 93,269 shares in the company, valued at $13,439,130.21. The trade was a 12.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 120,410 shares of company stock worth $16,557,185. 3.50% of the stock is currently owned by corporate insiders.

Bloom Energy Stock Up 3.7%

Shares of NYSE:BE opened at $156.97 on Monday. The company has a 50-day moving average price of $113.51 and a 200 day moving average price of $88.94. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. Bloom Energy Corporation has a 12 month low of $15.15 and a 12 month high of $167.57. The company has a market cap of $37.13 billion, a price-to-earnings ratio of 840.94, a PEG ratio of 12.75 and a beta of 3.07.

Bloom Energy Profile

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.