First Trust Advisors LP Purchases 275,338 Shares of Sunrun Inc. (NASDAQ:RUN)

First Trust Advisors LP boosted its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 33.4% during the 4th quarter, Holdings Channel reports. The fund owned 1,100,694 shares of the energy company’s stock after buying an additional 275,338 shares during the period. First Trust Advisors LP’s holdings in Sunrun were worth $10,181,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Sunrun by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 23,749,115 shares of the energy company’s stock worth $219,679,000 after acquiring an additional 343,448 shares in the last quarter. Invesco Ltd. grew its stake in Sunrun by 20.8% during the 4th quarter. Invesco Ltd. now owns 6,008,879 shares of the energy company’s stock worth $55,582,000 after buying an additional 1,035,096 shares during the last quarter. Erste Asset Management GmbH boosted its holdings in Sunrun by 16.3% in the fourth quarter. Erste Asset Management GmbH now owns 4,789,213 shares of the energy company’s stock worth $47,302,000 after acquiring an additional 672,049 shares in the last quarter. Norges Bank acquired a new stake in Sunrun during the 4th quarter worth about $31,022,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Sunrun by 7.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,325,562 shares of the energy company’s stock valued at $21,511,000 after purchasing an additional 155,311 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Stock Performance

NASDAQ:RUN opened at $7.50 on Tuesday. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The company’s 50-day moving average is $6.81 and its two-hundred day moving average is $9.41. Sunrun Inc. has a 1-year low of $5.45 and a 1-year high of $22.26. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -4.12 and a beta of 2.74.

Insider Activity at Sunrun

In related news, Director Edward Harris Fenster acquired 150,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $6.80 per share, for a total transaction of $1,020,000.00. Following the purchase, the director now owns 1,358,182 shares of the company’s stock, valued at $9,235,637.60. This represents a 12.42 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Danny Abajian sold 16,927 shares of Sunrun stock in a transaction on Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $114,087.98. Following the sale, the chief financial officer now directly owns 231,279 shares of the company’s stock, valued at approximately $1,558,820.46. This trade represents a 6.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 138,540 shares of company stock worth $1,050,944. 3.77% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on RUN. Jefferies Financial Group cut Sunrun from a “buy” rating to a “hold” rating and dropped their target price for the company from $14.00 to $8.00 in a research report on Wednesday, March 12th. TD Cowen dropped their price objective on Sunrun from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Royal Bank of Canada reduced their target price on Sunrun from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Roth Capital set a $20.00 price target on shares of Sunrun in a research note on Friday, February 28th. Finally, BNP Paribas upgraded shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price objective for the company in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.92.

About Sunrun

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.