Erste Asset Management GmbH Makes New Investment in Sunrun Inc. (NASDAQ:RUN)

Erste Asset Management GmbH purchased a new stake in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,117,164 shares of the energy company's stock, valued at approximately $76,152,000. Sunrun makes up about 0.9% of Erste Asset Management GmbH's investment portfolio, making the stock its 23rd biggest position. Erste Asset Management GmbH owned 1.84% of Sunrun as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Greenvale Capital LLP raised its position in shares of Sunrun by 20.5% during the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company's stock valued at $139,355,000 after buying an additional 2,000,000 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Sunrun by 20.0% in the second quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company's stock worth $52,025,000 after purchasing an additional 729,633 shares during the last quarter. FMR LLC raised its stake in Sunrun by 83.6% during 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 in the last quarter. Handelsbanken Fonder AB lifted its position in Sunrun by 0.6% during the third quarter. Handelsbanken Fonder AB now owns 3,123,059 shares of the energy company's stock valued at $56,402,000 after purchasing an additional 18,000 shares during the last quarter. Finally, Sylebra Capital LLC purchased a new position in shares of Sunrun in the 2nd quarter worth $35,387,000. 91.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sunrun

In related news, CEO Mary Powell sold 2,148 shares of the company's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.79, for a total value of $40,360.92. Following the completion of the transaction, the chief executive officer now owns 579,193 shares of the company's stock, valued at approximately $10,883,036.47. This represents a 0.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $9.94, for a total value of $497,000.00. Following the completion of the sale, the director now owns 1,092,446 shares of the company's stock, valued at $10,858,913.24. This trade represents a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 196,795 shares of company stock valued at $3,071,225. 3.77% of the stock is owned by company insiders.

Sunrun Stock Performance

NASDAQ RUN traded down $0.02 during trading hours on Friday, reaching $11.53. The stock had a trading volume of 4,635,149 shares, compared to its average volume of 13,152,142. The stock has a fifty day moving average of $14.07 and a 200 day moving average of $15.38. The stock has a market cap of $2.59 billion, a P/E ratio of -6.34 and a beta of 2.61. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. Sunrun Inc. has a 52-week low of $9.23 and a 52-week high of $22.26.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Glj Research reaffirmed a "sell" rating and set a $7.78 price objective on shares of Sunrun in a research note on Thursday, November 7th. BMO Capital Markets dropped their price target on shares of Sunrun from $20.00 to $11.00 and set a "market perform" rating for the company in a research note on Monday, November 11th. Guggenheim lowered shares of Sunrun from a "buy" rating to a "neutral" rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on shares of Sunrun from $19.00 to $22.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $20.00 target price on shares of Sunrun in a research note on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, Sunrun has a consensus rating of "Hold" and a consensus target price of $19.28.

Sunrun Company 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.