California Public Employees Retirement System Purchases 23,171 Shares of Bloom Energy Corporation $BE

California Public Employees Retirement System raised its position in Bloom Energy Corporation (NYSE:BE) by 6.1% in the first quarter, HoldingsChannel.com reports. The fund owned 403,159 shares of the company’s stock after purchasing an additional 23,171 shares during the quarter. California Public Employees Retirement System’s holdings in Bloom Energy were worth $54,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Assetmark Inc. increased its stake in shares of Bloom Energy by 6,709.9% during the 1st quarter. Assetmark Inc. now owns 18,523 shares of the company’s stock worth $2,510,000 after purchasing an additional 18,251 shares during the last quarter. Bessemer Group Inc. lifted its stake in Bloom Energy by 228.0% in the 1st quarter. Bessemer Group Inc. now owns 587,947 shares of the company’s stock valued at $79,660,000 after purchasing an additional 408,687 shares during the last quarter. Jag Capital Management LLC lifted its stake in Bloom Energy by 55.6% in the 1st quarter. Jag Capital Management LLC now owns 4,763 shares of the company’s stock valued at $645,000 after purchasing an additional 1,701 shares during the last quarter. SteelPeak Wealth LLC bought a new position in Bloom Energy during the first quarter worth about $2,260,000. Finally, Independent Financial Group LLC bought a new position in Bloom Energy during the first quarter worth about $620,000. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Performance

NYSE:BE opened at $197.80 on Tuesday. The stock has a 50 day simple moving average of $276.65 and a 200 day simple moving average of $203.99. The stock has a market cap of $56.26 billion, a P/E ratio of -3,955.21 and a beta of 3.73. Bloom Energy Corporation has a 1-year low of $24.39 and a 1-year high of $351.28. The company has a current ratio of 5.03, a quick ratio of 4.10 and a debt-to-equity ratio of 2.90.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.32. The firm had revenue of $751.05 million for the quarter, compared to analyst estimates of $539.94 million. Bloom Energy had a return on equity of 21.05% and a net margin of 0.25%.The company’s revenue for the quarter was up 130.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. Bloom Energy has set its FY 2026 guidance at 1.850-2.250 EPS. Research analysts anticipate that Bloom Energy Corporation will post 1.43 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Maciej Kurzymski sold 2,259 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $288.62, for a total value of $651,992.58. Following the transaction, the chief accounting officer directly owned 79,686 shares in the company, valued at approximately $22,998,973.32. This represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Aman Joshi sold 8,343 shares of the firm’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 transaction, the insider directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 153,617 shares of company stock valued at $44,003,909 in the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BE has been the topic of several research analyst reports. Robert W. Baird restated an “outperform” rating and issued a $310.00 price objective on shares of Bloom Energy in a research note on Thursday, July 9th. Susquehanna lifted their target price on Bloom Energy from $293.00 to $298.00 and gave the stock a “positive” rating in a research note on Friday, July 10th. UBS Group boosted their target price on Bloom Energy from $322.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Weiss Ratings restated a “hold (c)” rating on shares of Bloom Energy in a research note on Friday, April 24th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Bloom Energy in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $250.41.

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.