Bank of New York Mellon Corp Has $13.67 Million Holdings in Sunrun Inc. (NASDAQ:RUN)

Bank of New York Mellon Corp trimmed its position in Sunrun Inc. (NASDAQ:RUN - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,477,307 shares of the energy company's stock after selling 81,492 shares during the period. Bank of New York Mellon Corp owned approximately 0.66% of Sunrun worth $13,665,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc lifted its holdings in shares of Sunrun by 5.8% in the fourth quarter. CIBC Asset Management Inc now owns 24,774 shares of the energy company's stock valued at $229,000 after purchasing an additional 1,360 shares in the last quarter. Drive Wealth Management LLC increased its position in shares of Sunrun by 4.5% in the third quarter. Drive Wealth Management LLC now owns 43,327 shares of the energy company's stock valued at $782,000 after acquiring an additional 1,884 shares during the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of Sunrun by 133.3% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company's stock valued at $32,000 after acquiring an additional 2,000 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sunrun in the third quarter valued at about $44,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Sunrun by 1.1% in the third quarter. The Manufacturers Life Insurance Company now owns 233,551 shares of the energy company's stock valued at $4,218,000 after acquiring an additional 2,441 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

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Sunrun Price Performance

Shares of RUN stock traded up $0.29 during trading on Friday, hitting $6.50. The company had a trading volume of 9,994,201 shares, compared to its average volume of 10,711,957. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The firm has a market capitalization of $1.47 billion, a P/E ratio of -3.57 and a beta of 2.84. The stock's 50-day moving average price is $8.64 and its 200 day moving average price is $12.15. Sunrun Inc. has a one year low of $5.93 and a one year high of $22.26.

Insider Activity at Sunrun

In other Sunrun news, CFO Danny Abajian sold 3,734 shares of the company's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $41,746.12. Following the completion of the sale, the chief financial officer now directly owns 257,969 shares in the company, valued at $2,884,093.42. This represents a 1.43 % 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. Also, Director Edward Harris Fenster bought 150,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of $6.80 per share, with a total value of $1,020,000.00. Following the completion of the purchase, the director now directly owns 1,358,182 shares of the company's stock, valued at approximately $9,235,637.60. The trade was a 12.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 171,466 shares of company stock worth $1,607,397. Company insiders own 3.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RUN shares. Royal Bank of Canada lowered their target price on Sunrun from $17.00 to $14.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Truist Financial reaffirmed a "hold" rating and issued a $9.00 target price (down previously from $12.00) on shares of Sunrun in a research report on Monday, March 3rd. BNP Paribas raised Sunrun from a "neutral" rating to an "outperform" rating and set a $16.00 price target on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company lowered their price target on Sunrun from $15.00 to $12.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Finally, UBS Group lowered their price target on Sunrun from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Sunrun presently has an average rating of "Moderate Buy" and a consensus price target of $17.20.

Sunrun Profile

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.