SPX Gestao de Recursos Ltda Sells 84,500 Shares of Sunrun Inc. $RUN

SPX Gestao de Recursos Ltda trimmed its position in Sunrun Inc. (NASDAQ:RUN) by 84.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,500 shares of the energy company’s stock after selling 84,500 shares during the period. SPX Gestao de Recursos Ltda’s holdings in Sunrun were worth $268,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Optiver Holding B.V. bought a new position in Sunrun in the third quarter worth approximately $31,000. Smartleaf Asset Management LLC increased its holdings in shares of Sunrun by 181.0% during the second quarter. Smartleaf Asset Management LLC now owns 4,130 shares of the energy company’s stock valued at $34,000 after acquiring an additional 2,660 shares in the last quarter. Spire Wealth Management increased its holdings in shares of Sunrun by 960.0% during the second quarter. Spire Wealth Management now owns 5,300 shares of the energy company’s stock valued at $43,000 after acquiring an additional 4,800 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Sunrun by 87.1% during the second quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the energy company’s stock worth $47,000 after purchasing an additional 2,700 shares during the period. Finally, Federated Hermes Inc. bought a new position in shares of Sunrun in the 3rd quarter worth $49,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Sunrun

In related news, CFO Danny Abajian sold 4,193 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $12.33, for a total transaction of $51,699.69. Following the completion of the sale, the chief financial officer directly owned 576,244 shares of the company’s stock, valued at approximately $7,105,088.52. This trade represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Maria Barak sold 1,630 shares of Sunrun stock in a transaction on Friday, January 9th. The stock was sold at an average price of $18.55, for a total value of $30,236.50. Following the sale, the chief accounting officer owned 85,643 shares in the company, valued at $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. In the last 90 days, insiders have sold 402,726 shares of company stock worth $7,359,546. Company insiders own 3.37% of the company’s stock.

Wall Street Analysts Forecast Growth

RUN has been the subject of a number of recent research reports. Freedom Capital lowered shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Zacks Research raised shares of Sunrun from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 26th. Morgan Stanley lifted their price objective 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. Mizuho decreased their target price on shares of Sunrun from $25.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday, March 2nd. Finally, Raymond James Financial assumed coverage on shares of Sunrun in a research report on Monday, January 12th. They issued a “market perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.84.

Sunrun Stock Performance

NASDAQ RUN opened at $11.34 on Friday. The company has a fifty day moving average price of $18.30 and a 200-day moving average price of $18.28. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 6.63 and a beta of 2.43. The company has a debt-to-equity ratio of 3.38, a current ratio of 1.66 and a quick ratio of 1.27. Sunrun Inc. has a 1 year low of $5.38 and a 1 year high of $22.44.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Thursday, February 26th. The energy company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.46. Sunrun had a net margin of 15.22% and a return on equity of 11.72%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $610.29 million. During the same period last year, the firm earned $1.41 earnings per share. The firm’s revenue was up 123.5% on a year-over-year basis. As a group, equities research analysts predict that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Sunrun Company Profile

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.