Norges Bank acquired a new position in shares of Sunrun Inc. (NASDAQ:RUN – Free Report) in the 4th quarter, Holdings Channel.com reports. The firm acquired 3,378,770 shares of the energy company’s stock, valued at approximately $62,169,000.
Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Sunrun by 1.2% during the third quarter. Vanguard Group Inc. now owns 24,193,170 shares of the energy company’s stock worth $418,300,000 after purchasing an additional 288,945 shares during the period. Geode Capital Management LLC lifted its holdings in Sunrun by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company’s stock worth $104,220,000 after purchasing an additional 205,627 shares during the last quarter. Erste Asset Management GmbH boosted its stake in Sunrun by 62.7% in the 3rd quarter. Erste Asset Management GmbH now owns 3,082,234 shares of the energy company’s stock valued at $54,778,000 after purchasing an additional 1,188,092 shares during the period. Robeco Schweiz AG boosted its stake in Sunrun by 37.8% in the 4th quarter. Robeco Schweiz AG now owns 2,946,776 shares of the energy company’s stock valued at $54,221,000 after purchasing an additional 808,585 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Sunrun by 132.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,821,106 shares of the energy company’s stock valued at $48,777,000 after buying an additional 1,609,803 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on RUN. Zacks Research cut shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Oppenheimer lifted their price target on shares of Sunrun from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Wall Street Zen cut Sunrun from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. The Goldman Sachs Group reissued a “buy” rating and set a $18.00 price target on shares of Sunrun in a research report on Thursday, May 7th. Finally, Weiss Ratings cut Sunrun from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 7th. Twelve equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $18.48.
Insider Buying and Selling at Sunrun
In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $14.07, for a total transaction of $703,500.00. Following the completion of the sale, the director directly owned 557,947 shares in the company, valued at $7,850,314.29. This represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeanna Steele sold 76,478 shares of the firm’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $13.25, for a total value of $1,013,333.50. Following the completion of the sale, the insider directly owned 384,538 shares in the company, valued at approximately $5,095,128.50. This represents a 16.59% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 692,786 shares of company stock valued at $9,339,291. 3.55% of the stock is currently owned by insiders.
Sunrun Price Performance
RUN stock opened at $13.35 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 3.44. Sunrun Inc. has a 12 month low of $5.38 and a 12 month high of $22.44. The firm has a market cap of $3.18 billion, a P/E ratio of 6.27 and a beta of 2.32. The company’s 50-day moving average price is $13.61 and its two-hundred day moving average price is $16.20.
Sunrun (NASDAQ:RUN – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.67. The company had revenue of $722.23 million during the quarter, compared to the consensus estimate of $688.50 million. Sunrun had a net margin of 17.88% and a return on equity of 14.06%. The firm’s quarterly revenue was up 43.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.20 EPS. On average, analysts anticipate that Sunrun Inc. will post 1.09 earnings per share for the current fiscal year.
About Sunrun
Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.
Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.
Featured Stories
- Five stocks we like better than Sunrun
- Samsara Just Answered The AI Question—Is Wall Street Ready To Listen?
- IREN’s 800MW Bet Flips the AI Power Switch
- CrowdStrike Earnings Beat Sparks Selloff—Buy the Dip?
- Tesla’s EV Rebound Leaves Rivian and Lucid Facing a Tougher Investor Test
Want to see what other hedge funds are holding RUN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sunrun Inc. (NASDAQ:RUN – Free Report).
Receive News & Ratings for Sunrun Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunrun and related companies with MarketBeat.com's FREE daily email newsletter.
