Essex Investment Management Co. LLC decreased its position in Sunrun Inc. (NASDAQ:RUN – Get Rating) by 54.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 136,148 shares of the energy company's stock after selling 159,686 shares during the quarter. Essex Investment Management Co. LLC's holdings in Sunrun were worth $3,180,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Advisor Group LLC increased its position in shares of Sunrun by 12.4% in the second quarter. Private Advisor Group LLC now owns 22,247 shares of the energy company's stock valued at $520,000 after acquiring an additional 2,461 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Sunrun by 28.0% in the second quarter. Advisors Asset Management Inc. now owns 43,664 shares of the energy company's stock valued at $1,020,000 after acquiring an additional 9,549 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Sunrun by 27.2% in the second quarter. Van ECK Associates Corp now owns 232,185 shares of the energy company's stock valued at $5,424,000 after acquiring an additional 49,713 shares during the last quarter. Xponance Inc. increased its position in Sunrun by 8.0% during the second quarter. Xponance Inc. now owns 24,689 shares of the energy company's stock worth $577,000 after buying an additional 1,819 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its position in Sunrun by 2.3% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 35,170 shares of the energy company's stock worth $822,000 after buying an additional 789 shares during the last quarter. Institutional investors and hedge funds own 90.85% of the company's stock.
Get Sunrun alerts:Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on RUN shares. Deutsche Bank Aktiengesellschaft started coverage on Sunrun in a research report on Monday, November 14th. They set a "buy" rating and a $36.00 price target on the stock. Northland Securities started coverage on Sunrun in a research report on Wednesday, September 28th. They set an "outperform" rating and a $60.00 price target on the stock. Royal Bank of Canada lowered their price target on Sunrun from $48.00 to $42.00 and set an "outperform" rating on the stock in a research report on Friday, November 11th. Piper Sandler boosted their price target on Sunrun from $29.00 to $30.00 and gave the stock a "neutral" rating in a research report on Thursday, August 4th. Finally, Morgan Stanley reduced their price objective on Sunrun from $79.00 to $72.00 and set an "overweight" rating for the company in a report on Thursday, November 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $44.39.
Sunrun Price Performance
Shares of RUN stock traded up $0.13 during trading on Tuesday, hitting $30.59. The company had a trading volume of 127,117 shares, compared to its average volume of 10,098,314. Sunrun Inc. has a one year low of $16.80 and a one year high of $56.96. The firm has a market capitalization of $6.52 billion, a P/E ratio of 105.04 and a beta of 2.10. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.19 and a current ratio of 1.74. The stock's 50-day moving average price is $27.33 and its 200 day moving average price is $27.44.Sunrun (NASDAQ:RUN – Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The energy company reported $0.96 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.97. Sunrun had a net margin of 3.35% and a return on equity of 1.23%. The business had revenue of $631.91 million during the quarter, compared to the consensus estimate of $542.20 million. Equities analysts expect that Sunrun Inc. will post 0.39 EPS for the current fiscal year.
Insider Buying and Selling at Sunrun
In other Sunrun news, Director Lynn Michelle Jurich sold 4,664 shares of the business's stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $37.61, for a total transaction of $175,413.04. Following the completion of the transaction, the director now directly owns 1,453,452 shares in the company, valued at $54,664,329.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Edward Harris Fenster sold 6,172 shares of the company's stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $34.27, for a total transaction of $211,514.44. Following the completion of the transaction, the insider now directly owns 1,578,012 shares in the company, valued at $54,078,471.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lynn Michelle Jurich sold 4,664 shares of the company's stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $37.61, for a total transaction of $175,413.04. Following the transaction, the director now owns 1,453,452 shares of the company's stock, valued at $54,664,329.72. The disclosure for this sale can be found here. Insiders sold a total of 243,327 shares of company stock worth $7,313,106 over the last three months. Corporate insiders own 4.29% of the company's stock.
Sunrun Profile
(Get Rating)
Sunrun, Inc engages in the design, development, installation, sale, ownership and maintenance of residential solar energy systems. It sells solar service offerings and installs solar energy systems for homeowners. Customers can access its products through three channels: direct-to-consumer, solar partnerships, and strategic partnerships.
Further Reading
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