Bloom Energy Corporation $BE Shares Purchased by Udine Wealth Management Inc.

Key Points

• Udine Wealth Management boosted its stake in Bloom Energy by 27.8% to 62,967 shares (worth $5.33M), and several large institutions — including Geode, Goldman Sachs, Man Group, Norges Bank and Elemental Capital — also added or opened sizable positions, leaving institutional ownership at 77.04%.
• Bloom posted a quarterly beat with EPS of $0.15 vs. $0.08 expected and revenue of $519.1M (up 57.1% YoY), but analysts still forecast a fiscal-year EPS of -0.23 and the stock trades at a very high forward multiple (PE ~760) while shares were recently down 4.6%.
• Corporate insiders sold a total of 120,410 shares (~$16.56M) in the last quarter, including large transactions by Director Jim H. Snabe and Maciej Kurzymski, leaving insiders with roughly 3.6% ownership.

Udine Wealth Management Inc. boosted its stake in Bloom Energy Corporation (NYSE:BE - Free Report) by 27.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 62,967 shares of the company's stock after purchasing an additional 13,684 shares during the period. Bloom Energy comprises approximately 2.6% of Udine Wealth Management Inc.'s portfolio, making the stock its 11th largest position. Udine Wealth Management Inc.'s holdings in Bloom Energy were worth $5,325,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Bloom Energy by 2.1% during the second quarter. Geode Capital Management LLC now owns 4,756,516 shares of the company's stock worth $113,790,000 after buying an additional 95,990 shares during the period. Goldman Sachs Group Inc. lifted its stake in Bloom Energy by 50.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company's stock worth $49,127,000 after acquiring an additional 836,810 shares in the last quarter. Norges Bank purchased a new position in Bloom Energy during the 2nd quarter valued at about $57,821,000. Man Group plc boosted its holdings in Bloom Energy by 177.4% during the 2nd quarter. Man Group plc now owns 2,392,915 shares of the company's stock valued at $57,239,000 after acquiring an additional 1,530,167 shares during the period. Finally, Elemental Capital Partners LLC acquired a new position in Bloom Energy in the 3rd quarter valued at about $101,720,000. Hedge funds and other institutional investors own 77.04% of the company's stock.

Bloom Energy Trading Down 4.6%

Shares of NYSE:BE opened at $133.31 on Thursday. Bloom Energy Corporation has a 52 week low of $15.15 and a 52 week high of $147.86. The company's 50 day moving average is $105.31 and its two-hundred day moving average is $78.02. The company has a market cap of $31.53 billion, a PE ratio of 760.39, a P/E/G ratio of 11.77 and a beta of 3.01. 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 (NYSE:BE - Get Free Report) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.07. The business had revenue of $519.05 million during the quarter, compared to analysts' expectations of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The company's revenue for the quarter was up 57.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.01) EPS. Equities analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on BE. Jefferies Financial Group reissued an "underperform" rating and set a $53.00 price target on shares of Bloom Energy in a research report on Friday, October 31st. Bank of America increased their target price on shares of Bloom Energy from $26.00 to $39.00 and gave the stock an "underperform" rating in a report on Tuesday, November 25th. HSBC raised shares of Bloom Energy from a "hold" rating to a "buy" rating and set a $150.00 price target for the company in a research report on Wednesday, October 29th. Mizuho set a $89.00 price objective on Bloom Energy in a research report on Wednesday, October 29th. Finally, BMO Capital Markets set a $136.00 target price on Bloom Energy in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $96.00.

Insider Buying and Selling at Bloom Energy

In related news, Director Jim H. Snabe sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $143.04, for a total transaction of $2,860,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Maciej Kurzymski sold 13,105 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $144.09, for a total transaction of $1,888,299.45. Following the completion of the transaction, the insider owned 93,269 shares in the company, valued at $13,439,130.21. This represents a 12.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 120,410 shares of company stock worth $16,557,185. Corporate insiders own 3.60% of the company's stock.

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.

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