Mirae Asset Global Investments Co. Ltd. Invests $1.30 Million in Sunrun Inc. $RUN

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Sunrun Inc. (NASDAQ:RUNFree Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 75,000 shares of the energy company’s stock, valued at approximately $1,297,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of Sunrun by 5.1% during the 1st quarter. Royal Bank of Canada now owns 626,536 shares of the energy company’s stock worth $3,672,000 after purchasing an additional 30,175 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in Sunrun by 47.8% in the first quarter. Integrated Wealth Concepts LLC now owns 32,767 shares of the energy company’s stock worth $192,000 after buying an additional 10,598 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Sunrun by 2.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 238,360 shares of the energy company’s stock valued at $1,397,000 after acquiring an additional 5,882 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Sunrun by 511.0% in the first quarter. Jones Financial Companies Lllp now owns 27,026 shares of the energy company’s stock valued at $158,000 after acquiring an additional 22,603 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Sunrun by 45.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company’s stock worth $13,518,000 after acquiring an additional 718,955 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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Sunrun Trading Up 12.2%

Sunrun stock opened at $20.73 on Thursday. Sunrun Inc. has a 52 week low of $5.38 and a 52 week high of $22.44. The company has a debt-to-equity ratio of 3.67, a quick ratio of 1.06 and a current ratio of 1.46. The firm has a market capitalization of $4.81 billion, a PE ratio of -1.85 and a beta of 2.36. The business’s 50-day simple moving average is $18.73 and its 200-day simple moving average is $17.32.

Sunrun (NASDAQ:RUNGet Free Report) last released its earnings results on Thursday, November 6th. The energy company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Sunrun had a positive return on equity of 19.34% and a negative net margin of 106.50%.The firm had revenue of $724.56 million for the quarter, compared to analyst estimates of $601.15 million. During the same quarter last year, the firm posted ($0.37) EPS. The company’s revenue was up 34.9% on a year-over-year basis. Equities research analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Mary Powell sold 8,754 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $17.80, for a total transaction of $155,821.20. Following the transaction, the chief executive officer owned 864,946 shares of the company’s stock, valued at approximately $15,396,038.80. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Maria Barak sold 1,630 shares of the stock in a transaction on Friday, January 9th. The shares were sold at an average price of $18.55, for a total transaction of $30,236.50. Following the completion of the sale, the chief accounting officer directly owned 85,643 shares of the company’s stock, valued at approximately $1,588,677.65. This trade represents a 1.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 354,956 shares of company stock valued at $6,634,832 in the last 90 days. 3.37% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on RUN shares. Morgan Stanley raised their price target on shares of Sunrun from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, December 2nd. Susquehanna raised their target price on Sunrun from $13.00 to $23.00 and gave the company a “positive” rating in a report on Monday, October 13th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Sunrun in a research report on Wednesday, December 17th. Oppenheimer increased their price objective on Sunrun from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Finally, BMO Capital Markets set a $19.00 target price on Sunrun and gave the stock a “market perform” rating in a report on Wednesday, October 15th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.99.

Check Out Our Latest Stock Report on RUN

About Sunrun

(Free Report)

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.

Further Reading

Institutional Ownership by Quarter for Sunrun (NASDAQ:RUN)

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