Franklin Resources Inc. Has $3.91 Million Stock Position in Bloom Energy Corporation $BE

Franklin Resources Inc. increased its position in shares of Bloom Energy Corporation (NYSE:BE) by 10.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 163,569 shares of the company’s stock after buying an additional 15,171 shares during the quarter. Franklin Resources Inc.’s holdings in Bloom Energy were worth $3,913,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Tree Line Advisors Hong Kong Ltd. acquired a new position in Bloom Energy during the 1st quarter worth $22,609,000. Driehaus Capital Management LLC bought a new position in shares of Bloom Energy in the first quarter worth about $21,066,000. Goldman Sachs Group Inc. lifted its position in shares of 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 purchasing an additional 836,810 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in Bloom Energy by 29.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,611,925 shares of the company’s stock valued at $71,010,000 after purchasing an additional 821,814 shares during the period. Finally, Nuveen LLC acquired a new stake in Bloom Energy in the 1st quarter valued at approximately $13,476,000. Institutional investors own 77.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wedbush set a $39.00 price target on Bloom Energy in a report on Tuesday, November 25th. TD Cowen upped their target price on shares of Bloom Energy to $105.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. Robert W. Baird set a $157.00 price target on shares of Bloom Energy in a report on Wednesday, October 29th. Wells Fargo & Company boosted their price objective on shares of Bloom Energy to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Finally, Morgan Stanley upped their price objective on shares of Bloom Energy to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. One investment 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 given a Sell rating to the stock. Based on data from MarketBeat, Bloom Energy currently has a consensus rating of “Hold” and an average target price of $93.77.

Insider Activity

In related news, insider Maciej Kurzymski sold 13,105 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was 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 trade represents a 12.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Aman Joshi sold 4,543 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $109.13, for a total value of $495,777.59. Following the completion of the sale, the insider directly owned 219,818 shares in the company, valued at approximately $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 quarter, insiders have sold 119,589 shares of company stock valued at $16,439,742. 3.50% of the stock is owned by company insiders.

Bloom Energy Stock Up 6.5%

BE opened at $105.36 on Wednesday. The company has a market capitalization of $24.92 billion, a P/E ratio of 549.61, a P/E/G ratio of 62.48 and a beta of 3.00. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88. The firm’s fifty day moving average price is $105.50 and its two-hundred day moving average price is $60.60. Bloom Energy Corporation has a fifty-two week low of $15.15 and a fifty-two week high of $147.86.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The company 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 firm earned ($0.01) EPS. The firm’s revenue for the quarter was up 57.1% compared to the same quarter last year. On average, analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

Bloom Energy Profile

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.