DNB Asset Management AS Boosts Stock Holdings in Sunrun Inc. (NASDAQ:RUN)

DNB Asset Management AS boosted its position in shares of Sunrun Inc. (NASDAQ:RUN – Get Rating) by 20.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,108,316 shares of the energy company’s stock after buying an additional 358,420 shares during the period. DNB Asset Management AS owned 0.99% of Sunrun worth $50,642,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in shares of Sunrun in the third quarter valued at approximately $17,270,000. Pathstone Family Office LLC grew its position in shares of Sunrun by 24.0% in the third quarter. Pathstone Family Office LLC now owns 50,137 shares of the energy company’s stock valued at $1,383,000 after purchasing an additional 9,710 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Sunrun in the third quarter valued at approximately $179,000. AlphaCrest Capital Management LLC grew its position in shares of Sunrun by 132.1% in the third quarter. AlphaCrest Capital Management LLC now owns 50,001 shares of the energy company’s stock valued at $1,380,000 after purchasing an additional 28,456 shares in the last quarter. Finally, Integrity Advisory LLC purchased a new stake in shares of Sunrun in the third quarter valued at approximately $219,000. 86.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Morgan Stanley dropped their price target on Sunrun from $72.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, January 10th. Truist Financial decreased their price objective on Sunrun from $52.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, February 21st. Scotiabank assumed coverage on Sunrun in a report on Thursday, March 2nd. They issued a “sector outperform” rating and a $40.00 price objective on the stock. Wells Fargo & Company decreased their price objective on Sunrun from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Friday, February 3rd. Finally, TheStreet upgraded Sunrun from a “d+” rating to a “c-” rating in a report on Thursday, January 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Sunrun currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.89.

Sunrun Stock Down 8.9 %

Shares of NASDAQ RUN traded down $1.69 during mid-day trading on Friday, hitting $17.32. The company had a trading volume of 23,645,213 shares, compared to its average volume of 9,924,726. The company has a market capitalization of $3.71 billion, a PE ratio of 22.49 and a beta of 2.30. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.82 and a quick ratio of 1.14. Sunrun Inc. has a 1-year low of $16.69 and a 1-year high of $39.13. The business’s 50-day simple moving average is $24.49 and its 200 day simple moving average is $26.98.

Sunrun (NASDAQ:RUN – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The energy company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.26. The business had revenue of $609.20 million for the quarter, compared to analysts’ expectations of $588.89 million. Sunrun had a return on equity of 2.37% and a net margin of 7.47%. The company’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.11) earnings per share. On average, analysts predict that Sunrun Inc. will post -0.18 earnings per share for the current year.

Insider Activity

In other news, CEO Mary Powell sold 1,400 shares of the stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $23.73, for a total value of $33,222.00. Following the sale, the chief executive officer now directly owns 187,894 shares in the company, valued at $4,458,724.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Danny Abajian sold 9,839 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $25.51, for a total value of $250,992.89. Following the transaction, the chief financial officer now owns 178,288 shares of the company’s stock, valued at $4,548,126.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mary Powell sold 1,400 shares of the stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $23.73, for a total value of $33,222.00. Following the completion of the transaction, the chief executive officer now directly owns 187,894 shares in the company, valued at approximately $4,458,724.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 275,843 shares of company stock worth $6,813,248. Corporate insiders own 4.29% of the company’s stock.

About Sunrun

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Sunrun, Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems. It sells solar service offerings and installs solar energy systems for homeowners. Customers can access its products through three channels: direct-to-consumer, solar partnerships, and strategic partnerships.