Franklin Resources Inc. Purchases 89,299 Shares of Sunrun Inc. (NASDAQ:RUN)

Franklin Resources Inc. lifted its position in Sunrun Inc. (NASDAQ:RUN - Free Report) by 180.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 138,891 shares of the energy company's stock after purchasing an additional 89,299 shares during the quarter. Franklin Resources Inc. owned 0.06% of Sunrun worth $1,285,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RUN. MML Investors Services LLC grew its holdings in Sunrun by 9.3% during the 3rd quarter. MML Investors Services LLC now owns 43,313 shares of the energy company's stock worth $782,000 after acquiring an additional 3,689 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Sunrun by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company's stock valued at $96,019,000 after purchasing an additional 30,549 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Sunrun in the third quarter valued at approximately $482,000. Wilmington Savings Fund Society FSB bought a new position in Sunrun in the 3rd quarter worth approximately $44,000. Finally, Principal Financial Group Inc. lifted its holdings in Sunrun by 33.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company's stock worth $26,385,000 after buying an additional 367,835 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

Sunrun Stock Up 4.9 %

RUN stock traded up $0.32 during midday trading on Friday, hitting $6.85. The company's stock had a trading volume of 11,271,349 shares, compared to its average volume of 10,749,613. The company's fifty day moving average price is $7.00 and its 200 day moving average price is $9.90. Sunrun Inc. has a twelve month low of $5.45 and a twelve month high of $22.26. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The stock has a market capitalization of $1.55 billion, a P/E ratio of -3.76 and a beta of 2.74.

Insider Activity at Sunrun

In other news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.10, for a total value of $455,000.00. Following the completion of the transaction, the director now owns 941,753 shares of the company's stock, valued at $8,569,952.30. This trade represents a 5.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Paul S. Dickson sold 19,343 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $130,371.82. Following the completion of the sale, the executive now directly owns 399,729 shares in the company, valued at approximately $2,694,173.46. The trade was a 4.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 138,540 shares of company stock valued at $1,050,944. Insiders own 3.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RUN shares. BNP Paribas upgraded Sunrun from a "neutral" rating to an "outperform" rating and set a $16.00 target price for the company in a research report on Tuesday, January 7th. Wells Fargo & Company cut their target price on shares of Sunrun from $15.00 to $12.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Susquehanna dropped their price target on shares of Sunrun from $13.00 to $10.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Citigroup reaffirmed a "neutral" rating and set a $7.00 target price on shares of Sunrun in a report on Thursday. Finally, Barclays reduced their price target on Sunrun from $18.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Sunrun presently has an average rating of "Hold" and an average price target of $16.01.

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.