Invesco Ltd. Acquires 1,035,096 Shares of Sunrun Inc. (NASDAQ:RUN)

Invesco Ltd. raised its position in Sunrun Inc. (NASDAQ:RUN - Free Report) by 20.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,008,879 shares of the energy company's stock after purchasing an additional 1,035,096 shares during the period. Invesco Ltd. owned 2.68% of Sunrun worth $55,582,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new position in Sunrun in the fourth quarter worth $29,000. Newbridge Financial Services Group Inc. lifted its position in Sunrun by 133.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company's stock worth $32,000 after buying an additional 2,000 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Sunrun during the 3rd quarter valued at $44,000. Summit Securities Group LLC purchased a new stake in shares of Sunrun in the 4th quarter worth about $53,000. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Sunrun during the 4th quarter valued at about $56,000. Institutional investors own 91.69% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on RUN. Barclays cut their price objective 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. Citigroup reaffirmed a "neutral" rating and issued a $7.00 target price on shares of Sunrun in a research report on Thursday. The Goldman Sachs Group cut their price objective on shares of Sunrun from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Roth Capital set a $20.00 price target on Sunrun in a research note on Friday, February 28th. Finally, Royal Bank of Canada dropped their target price on Sunrun from $17.00 to $14.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $15.68.

Insiders Place Their Bets

In other Sunrun news, CFO Danny Abajian sold 16,927 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $114,087.98. Following the sale, the chief financial officer now directly owns 231,279 shares of the company's stock, valued at $1,558,820.46. This trade represents a 6.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $9.10, for a total value of $455,000.00. Following the sale, the director now owns 941,753 shares of the company's stock, valued at $8,569,952.30. This represents a 5.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 138,540 shares of company stock worth $1,050,944 over the last quarter. 3.77% of the stock is currently owned by corporate insiders.

Sunrun Stock Performance

Shares of Sunrun stock traded down $0.47 on Monday, hitting $6.39. 1,147,636 shares of the company's stock were exchanged, compared to its average volume of 10,698,125. 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 stock has a market capitalization of $1.44 billion, a PE ratio of -3.51 and a beta of 2.74. Sunrun Inc. has a 1 year low of $5.45 and a 1 year high of $22.26. The company has a 50-day simple moving average of $7.00 and a 200-day simple moving average of $9.80.

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.