California Public Employees Retirement System trimmed its stake in shares of Sunrun Inc. (NASDAQ:RUN – Get Rating) by 3.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 356,272 shares of the energy company's stock after selling 14,266 shares during the quarter. California Public Employees Retirement System owned 0.17% of Sunrun worth $8,323,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Clearstead Advisors LLC boosted its holdings in shares of Sunrun by 743.6% in the 1st quarter. Clearstead Advisors LLC now owns 928 shares of the energy company's stock worth $28,000 after acquiring an additional 818 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in shares of Sunrun in the 2nd quarter worth approximately $31,000. Meeder Asset Management Inc. acquired a new position in shares of Sunrun in the 1st quarter worth approximately $32,000. Verity Asset Management Inc. acquired a new position in shares of Sunrun in the 1st quarter worth approximately $35,000. Finally, CWM LLC boosted its holdings in shares of Sunrun by 92.0% in the 2nd quarter. CWM LLC now owns 1,622 shares of the energy company's stock worth $38,000 after acquiring an additional 777 shares in the last quarter. 90.85% of the stock is owned by institutional investors and hedge funds.
Get Sunrun alerts:Insider Transactions at Sunrun
In other news, insider Jeanna Steele sold 835 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $37.35, for a total transaction of $31,187.25. Following the completion of the transaction, the insider now directly owns 157,191 shares in the company, valued at approximately $5,871,083.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Jeanna Steele sold 835 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $37.35, for a total transaction of $31,187.25. Following the completion of the transaction, the insider now directly owns 157,191 shares in the company, valued at approximately $5,871,083.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lynn Michelle Jurich sold 75,000 shares of the stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $26.17, for a total transaction of $1,962,750.00. Following the transaction, the director now owns 1,449,459 shares of the company's stock, valued at $37,932,342.03. The disclosure for this sale can be found here. Insiders sold a total of 243,327 shares of company stock worth $7,313,106 in the last three months. Insiders own 4.29% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have issued reports on RUN. Barclays began coverage on Sunrun in a report on Friday, August 5th. They set an "overweight" rating and a $46.00 price objective on the stock. Wolfe Research cut shares of Sunrun from an "outperform" rating to a "peer perform" rating in a research report on Thursday, October 20th. BMO Capital Markets dropped their target price on shares of Sunrun from $40.00 to $39.00 and set an "outperform" rating for the company in a research report on Thursday, November 3rd. The Goldman Sachs Group upped their target price on shares of Sunrun from $36.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, August 4th. Finally, StockNews.com upgraded shares of Sunrun to a "sell" rating in a research report on Friday, November 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $44.39.Sunrun Price Performance
RUN stock opened at $30.96 on Wednesday. The stock has a 50-day moving average price of $27.20 and a two-hundred day moving average price of $27.50. The stock has a market cap of $6.60 billion, a PE ratio of 106.76 and a beta of 2.10. The company has a current ratio of 1.74, a quick ratio of 1.19 and a debt-to-equity ratio of 1.09. Sunrun Inc. has a 1 year low of $16.80 and a 1 year high of $52.95.
Sunrun (NASDAQ:RUN – Get Rating) last released its earnings results on Wednesday, November 2nd. The energy company reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.97. The firm had revenue of $631.91 million during the quarter, compared to analysts' expectations of $542.20 million. Sunrun had a return on equity of 1.23% and a net margin of 3.35%. Equities analysts forecast that Sunrun Inc. will post 0.39 EPS for the current fiscal year.
Sunrun Profile
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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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