DnB Asset Management AS lowered its stake in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 10.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,889,581 shares of the energy company's stock after selling 215,695 shares during the quarter. DnB Asset Management AS owned about 0.84% of Sunrun worth $17,479,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of Sunrun by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,170,251 shares of the energy company's stock worth $39,195,000 after buying an additional 107,391 shares during the period. Cerity Partners LLC boosted its holdings in Sunrun by 34.9% during the third quarter. Cerity Partners LLC now owns 40,545 shares of the energy company's stock valued at $732,000 after acquiring an additional 10,497 shares during the period. The Manufacturers Life Insurance Company grew 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 purchasing an additional 2,441 shares during the last quarter. FMR LLC grew its position in shares of Sunrun by 83.6% in the third quarter. FMR LLC now owns 3,430,327 shares of the energy company's stock valued at $61,952,000 after purchasing an additional 1,562,163 shares during the last quarter. Finally, Townsquare Capital LLC increased its stake in shares of Sunrun by 26.8% in the third quarter. Townsquare Capital LLC now owns 182,857 shares of the energy company's stock worth $3,302,000 after purchasing an additional 38,675 shares during the period. Institutional investors and hedge funds own 91.69% of the company's stock.
Sunrun Price Performance
NASDAQ:RUN traded up $0.31 on Wednesday, reaching $6.80. The stock had a trading volume of 7,167,455 shares, compared to its average volume of 10,601,559. The company has a market capitalization of $1.54 billion, a P/E ratio of -3.74 and a beta of 2.74. The stock has a fifty day moving average price of $7.77 and a 200-day moving average price of $11.02. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. Sunrun Inc. has a 1-year low of $5.55 and a 1-year high of $22.26.
Insider Buying and Selling
In other news, CFO Danny Abajian sold 3,734 shares of the business'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 owns 257,969 shares in the company, valued at $2,884,093.42. The trade was a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Paul S. Dickson sold 2,968 shares of Sunrun stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $33,182.24. Following the sale, the executive now directly owns 418,492 shares of the company's stock, valued at $4,678,740.56. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,466 shares of company stock worth $1,136,397 in the last three months. Insiders own 3.77% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have issued reports on RUN. Barclays lowered their target price on Sunrun from $18.00 to $15.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 28th. UBS Group dropped their target price on shares of Sunrun from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Jefferies Financial Group cut shares of Sunrun from a "buy" rating to a "hold" rating and cut their target price for the company from $14.00 to $8.00 in a research note on Wednesday, March 12th. Roth Capital set a $20.00 price target on shares of Sunrun in a research report on Friday, February 28th. Finally, BMO Capital Markets cut their price objective on shares of Sunrun from $11.00 to $9.00 and set a "market perform" rating for the company in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $17.20.
Check Out Our Latest Report on Sunrun
Sunrun Company Profile
(
Free Report)
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.
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