Pinebridge Investments L.P. lessened its stake in Sunrun Inc. (NASDAQ:RUN - Free Report) by 65.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 174,654 shares of the energy company's stock after selling 329,119 shares during the quarter. Pinebridge Investments L.P. owned about 0.08% of Sunrun worth $1,616,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new position in Sunrun in the fourth quarter valued at about $402,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Sunrun during the 4th quarter valued at approximately $18,500,000. Charles Schwab Investment Management Inc. grew its position in shares of Sunrun by 7.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,325,562 shares of the energy company's stock worth $21,511,000 after buying an additional 155,311 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Sunrun in the fourth quarter worth $403,000. Finally, Principal Financial Group Inc. raised its holdings in Sunrun by 33.7% in the third quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company's stock valued at $26,385,000 after acquiring an additional 367,835 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.
Sunrun Trading Up 4.8 %
RUN stock opened at $7.39 on Monday. Sunrun Inc. has a 52 week low of $5.45 and a 52 week high of $22.26. The company has a market capitalization of $1.67 billion, a PE ratio of -4.06 and a beta of 2.74. The company's 50-day simple moving average is $6.83 and its 200 day simple moving average is $9.47. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. UBS Group reduced their price target 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. Roth Capital set a $20.00 target price on Sunrun in a research note on Friday, February 28th. TD Cowen lowered their target price on Sunrun from $18.00 to $14.00 and set a "buy" rating for the company in a report on Friday, February 28th. Morgan Stanley reissued an "equal weight" rating and issued a $11.00 price target on shares of Sunrun in a report on Wednesday, April 23rd. Finally, Barclays lowered their price objective on Sunrun from $18.00 to $15.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Sunrun presently has an average rating of "Hold" and an average target price of $14.92.
Check Out Our Latest Report on RUN
Insider Activity at Sunrun
In related news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $9.10, for a total transaction of $455,000.00. Following the sale, the director now directly owns 941,753 shares in the company, valued at $8,569,952.30. This trade represents a 5.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Danny Abajian sold 16,927 shares of the business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $114,087.98. Following the completion of the sale, the chief financial officer now directly owns 231,279 shares in the company, valued at approximately $1,558,820.46. This represents a 6.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 138,540 shares of company stock valued at $1,050,944 over the last quarter. 3.77% of the stock is owned by corporate insiders.
About Sunrun
(
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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