California Public Employees Retirement System Has $54.62 Million Holdings in Bloom Energy Corporation $BE

Key Points

• California Public Employees Retirement System increased its Bloom Energy stake by 6.1% in the first quarter, holding 403,159 shares valued at about $54.6 million.
• Bloom Energy reported a strong first-quarter earnings beat, posting $0.44 EPS versus the $0.12 estimate and revenue of $751.1 million, up 130.4% year over year.
• Analyst sentiment remains mixed: Bloom Energy has an average rating of “Hold”, even though several firms raised price targets, while insiders have recently sold shares.

California Public Employees Retirement System grew its stake in Bloom Energy Corporation (NYSE:BE - Free Report) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 403,159 shares of the company's stock after acquiring an additional 23,171 shares during the period. California Public Employees Retirement System owned 0.14% of Bloom Energy worth $54,624,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of BE. Strs Ohio increased its holdings in shares of Bloom Energy by 24.8% in the fourth quarter. Strs Ohio now owns 41,200 shares of the company's stock worth $3,580,000 after acquiring an additional 8,200 shares in the last quarter. Fortem Financial Group LLC bought a new position in shares of Bloom Energy during the 4th quarter valued at about $369,000. Norges Bank bought a new position in shares of Bloom Energy during the 4th quarter valued at about $239,683,000. Cidel Asset Management Inc. acquired a new position in shares of Bloom Energy in the 1st quarter valued at approximately $445,000. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of Bloom Energy in the 1st quarter valued at approximately $8,468,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bloom Energy

In related news, insider Aman Joshi sold 8,343 shares of the company's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $300.37, for a total transaction of $2,505,986.91. Following the sale, the insider owned 163,807 shares in the company, valued at approximately $49,202,708.59. This represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Maciej Kurzymski sold 6,229 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $293.36, for a total value of $1,827,339.44. Following the transaction, the chief accounting officer directly owned 81,945 shares of the company's stock, valued at $24,039,385.20. This trade represents a 7.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 153,617 shares of company stock worth $44,003,909. Corporate insiders own 3.00% of the company's stock.

Analyst Upgrades and Downgrades

BE has been the subject of a number of research reports. Royal Bank Of Canada reissued an "outperform" rating and set a $335.00 target price on shares of Bloom Energy in a research note on Wednesday, June 10th. Sanford C. Bernstein initiated coverage on shares of Bloom Energy in a report on Tuesday, June 16th. They issued a "market perform" rating and a $276.00 price target for the company. BTIG Research upped their price target on shares of Bloom Energy to $295.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. UBS Group increased their price objective on shares of Bloom Energy from $322.00 to $350.00 and gave the stock a "buy" rating in a research report on Wednesday, July 1st. Finally, Zacks Research lowered shares of Bloom Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $250.41.

Bloom Energy Stock Performance

Shares of BE stock opened at $197.80 on Tuesday. The company's fifty day simple moving average is $276.65 and its 200-day simple moving average is $203.99. The company has a quick ratio of 4.10, a current ratio of 5.03 and a debt-to-equity ratio of 2.90. The firm has a market cap of $56.26 billion, a PE ratio of -3,955.21 and a beta of 3.73. Bloom Energy Corporation has a 12 month low of $24.39 and a 12 month high of $351.28.

Bloom Energy (NYSE:BE - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.12 by $0.32. Bloom Energy had a net margin of 0.25% and a return on equity of 21.05%. The business had revenue of $751.05 million during the quarter, compared to analysts' expectations of $539.94 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The firm's revenue was up 130.4% on a year-over-year basis. Bloom Energy has set its FY 2026 guidance at 1.850-2.250 EPS. Equities research analysts expect that Bloom Energy Corporation will post 1.43 EPS 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.

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