Stephens Investment Management Group LLC Takes $41.81 Million Position in Bloom Energy Corporation $BE

Stephens Investment Management Group LLC acquired a new position in Bloom Energy Corporation (NYSE:BE) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 494,427 shares of the company’s stock, valued at approximately $41,814,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Resona Asset Management Co. Ltd. acquired a new stake in Bloom Energy in the second quarter worth about $108,000. Mizuho Markets Americas LLC raised its position in shares of Bloom Energy by 29.9% during the 2nd quarter. Mizuho Markets Americas LLC now owns 395,490 shares of the company’s stock worth $9,460,000 after buying an additional 90,980 shares in the last quarter. Udine Wealth Management Inc. lifted its stake in shares of 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 acquiring an additional 13,684 shares during the period. Harbor Capital Advisors Inc. bought a new position in shares of Bloom Energy in the third quarter valued at approximately $1,106,000. Finally, Jump Financial LLC increased its stake in shares of Bloom Energy by 137.8% during the second quarter. Jump Financial LLC now owns 332,722 shares of the company’s stock valued at $7,959,000 after acquiring an additional 192,790 shares during the period. Institutional investors own 77.04% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on BE. Mizuho set a $89.00 target price on Bloom Energy in a research report on Wednesday, October 29th. JPMorgan Chase & Co. upped their price objective on Bloom Energy to $129.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Morgan Stanley raised their target price on Bloom Energy to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Roth Capital reaffirmed a “neutral” rating and set a $103.00 target price on shares of Bloom Energy in a report on Wednesday, October 29th. Finally, Evercore ISI restated an “outperform” rating on shares of Bloom Energy in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $96.00.

Insider Buying and Selling

In other news, insider Shawn Marie Soderberg sold 36,666 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $141.00, for a total transaction of $5,169,906.00. Following the sale, the insider owned 225,949 shares in the company, valued at $31,858,809. The trade was a 13.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Aman Joshi sold 4,543 shares of the firm’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 completion of the transaction, the insider directly owned 219,818 shares of the company’s stock, valued at $23,988,738.34. This represents a 2.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 120,410 shares of company stock valued at $16,557,185. Company insiders own 3.60% of the company’s stock.

Bloom Energy Stock Performance

Shares of NYSE BE opened at $149.30 on Friday. The stock’s fifty day simple moving average is $105.62 and its 200 day simple moving average is $79.32. The stock has a market capitalization of $35.31 billion, a price-to-earnings ratio of 773.17, a PEG ratio of 11.72 and a beta of 3.01. The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98. Bloom Energy Corporation has a 52-week low of $15.15 and a 52-week high of $150.84.

Bloom Energy (NYSE:BE) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The business had revenue of $519.05 million during the quarter, compared to analyst estimates of $425.18 million. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.Bloom Energy’s revenue for the quarter was up 57.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.01) EPS. As a group, sell-side analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

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.