Canada Pension Plan Investment Board purchased a new stake in Sunrun Inc. (NASDAQ:RUN – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 152,300 shares of the energy company’s stock, valued at approximately $2,038,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Allworth Financial LP purchased a new position in shares of Sunrun during the 2nd quarter valued at about $25,000. Farther Finance Advisors LLC boosted its stake in shares of Sunrun by 156.9% in the fourth quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock worth $27,000 after buying an additional 885 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Sunrun during the fourth quarter worth about $27,000. Hantz Financial Services Inc. grew its holdings in Sunrun by 59.1% during the fourth quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock worth $28,000 after acquiring an additional 564 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in Sunrun during the fourth quarter valued at approximately $30,000. 91.69% of the stock is owned by institutional investors and hedge funds.
Sunrun Stock Performance
NASDAQ RUN opened at $8.78 on Monday. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 5.93 and a beta of 2.36. The stock has a 50-day moving average of $11.08 and a 200 day moving average of $13.05. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34. Sunrun Inc. has a twelve month low of $8.61 and a twelve month high of $22.44.
Insider Activity
In related news, insider Jeanna Steele sold 9,897 shares of Sunrun stock in a transaction on Monday, July 6th. The shares were sold at an average price of $13.19, for a total value of $130,541.43. Following the sale, the insider owned 461,715 shares of the company’s stock, valued at approximately $6,090,020.85. This trade represents a 2.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $9.96, for a total transaction of $498,000.00. Following the completion of the sale, the director directly owned 367,405 shares of the company’s stock, valued at approximately $3,659,353.80. The trade was a 11.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 173,045 shares of company stock worth $2,138,835. Insiders own 3.55% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. Wall Street Zen raised Sunrun from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. TD Cowen cut their target price on shares of Sunrun from $21.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Mizuho set a $18.00 target price on shares of Sunrun in a research note on Thursday, August 6th. Oppenheimer reissued an “outperform” rating and set a $20.00 price target on shares of Sunrun in a report on Thursday, August 6th. Finally, Zacks Research lowered shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $16.81.
Check Out Our Latest Analysis on Sunrun
Sunrun Profile
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.
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