13,000 Shares in Bloom Energy Corporation $BE Purchased by Straight Path Wealth Management

Key Points

• Straight Path Wealth Management established a new institutional stake in Bloom Energy by purchasing 13,000 shares during Q3, valued at about $1.10 million, as part of a market where ~77% of the stock is held by hedge funds and other institutions.
• Company insiders collectively sold 120,410 shares worth roughly $16.56 million over the last quarter, leaving insiders with about 3.5% ownership.
• Analysts are mixed—Bloom has an average rating of "Hold" with an average target price of $102.43 (individual targets range from $68 to $157); the stock trades near $139 with a market cap of ~$32.9 billion and an elevated P/E of ~805.

Straight Path Wealth Management purchased a new stake in shares of Bloom Energy Corporation (NYSE:BE - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 13,000 shares of the company's stock, valued at approximately $1,099,000.

A number of other hedge funds have also recently made changes to their positions in BE. CWM LLC increased its position in shares of Bloom Energy by 3.3% in the third quarter. CWM LLC now owns 5,111 shares of the company's stock worth $432,000 after purchasing an additional 162 shares during the last quarter. Seelaus Asset Management LLC raised its holdings in Bloom Energy by 2.4% during the 3rd quarter. Seelaus Asset Management LLC now owns 11,420 shares of the company's stock valued at $966,000 after buying an additional 270 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Bloom Energy by 250.9% during the third quarter. Parkside Financial Bank & Trust now owns 393 shares of the company's stock worth $33,000 after purchasing an additional 281 shares during the period. Prospera Financial Services Inc increased its stake in shares of Bloom Energy by 0.3% during the second quarter. Prospera Financial Services Inc now owns 95,532 shares of the company's stock valued at $2,285,000 after buying an additional 313 shares during the period. Finally, GAMMA Investing LLC boosted its position in Bloom Energy by 14.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,708 shares of the company's stock valued at $229,000 after acquiring an additional 335 shares in the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BE. Robert W. Baird set a $157.00 price objective on Bloom Energy in a research note on Wednesday, October 29th. Oppenheimer reissued a "market perform" rating on shares of Bloom Energy in a report on Wednesday, October 29th. Hsbc Global Res raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 29th. Royal Bank Of Canada set a $143.00 target price on shares of Bloom Energy in a research report on Tuesday, January 20th. Finally, Truist Financial set a $68.00 target price on Bloom Energy in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Bloom Energy presently has an average rating of "Hold" and an average target price of $102.43.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Aman Joshi sold 4,543 shares of the firm's stock in a transaction dated 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. This trade represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,583 shares of the firm's stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $105.97, for a total value of $167,750.51. Following the transaction, the insider directly owned 221,633 shares in the company, valued at approximately $23,486,449.01. This represents a 0.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 120,410 shares of company stock worth $16,557,185 over the last quarter. 3.50% of the stock is currently owned by insiders.

Bloom Energy Stock Performance

Bloom Energy stock opened at $139.07 on Tuesday. Bloom Energy Corporation has a 1-year low of $15.15 and a 1-year high of $155.87. The firm has a 50 day simple moving average of $108.94 and a 200-day simple moving average of $85.25. The stock has a market cap of $32.89 billion, a price-to-earnings ratio of 804.94, a price-to-earnings-growth ratio of 12.20 and a beta of 3.01. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.07. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The firm had revenue of $519.05 million during the quarter, compared to the consensus estimate of $425.18 million. During the same period last year, the company earned ($0.01) EPS. The company's quarterly revenue was up 57.1% on a year-over-year basis. On average, analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current year.

Bloom Energy Company 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.

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