314,626 Shares in Sunrun Inc. $RUN Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Sunrun Inc. (NASDAQ:RUN) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 314,626 shares of the energy company’s stock, valued at approximately $4,210,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Contour Asset Management LLC purchased a new stake in Sunrun during the 4th quarter worth about $98,010,000. Norges Bank acquired a new position in shares of Sunrun during the 4th quarter worth about $62,169,000. Voloridge Investment Management LLC purchased a new position in shares of Sunrun in the 3rd quarter valued at about $40,193,000. Bank of New York Mellon Corp purchased a new position in shares of Sunrun in the 2nd quarter valued at about $18,120,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Sunrun during the 3rd quarter worth about $21,427,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sunrun

In other news, CFO Danny Abajian sold 16,495 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $217,569.05. Following the transaction, the chief financial officer owned 420,318 shares of the company’s stock, valued at approximately $5,543,994.42. The trade was a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $9.96, for a total value of $498,000.00. Following the sale, the director owned 367,405 shares of the company’s stock, valued at $3,659,353.80. This trade represents a 11.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 223,045 shares of company stock worth $2,934,835 in the last ninety days. Company insiders own 3.55% of the company’s stock.

Sunrun Price Performance

Shares of NASDAQ:RUN opened at $9.06 on Friday. Sunrun Inc. has a one year low of $8.61 and a one year high of $22.44. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 6.12 and a beta of 2.35. The company has a 50-day simple moving average of $11.17 and a 200-day simple moving average of $13.13. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.00 and a current ratio of 1.42.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.19. The firm had revenue of $869.99 million for the quarter, compared to analyst estimates of $746.87 million. Sunrun had a return on equity of 9.59% and a net margin of 11.59%.The business’s revenue was up 52.8% on a year-over-year basis. During the same quarter last year, the company posted $1.07 earnings per share. On average, analysts predict that Sunrun Inc. will post 1.18 EPS for the current year.

Wall Street Analysts Forecast Growth

RUN has been the subject of several recent analyst reports. Royal Bank Of Canada decreased their target price on Sunrun from $18.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. UBS Group dropped their price target on shares of Sunrun from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. TD Cowen cut their price objective on shares of Sunrun from $21.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Roth Capital restated a “buy” rating on shares of Sunrun in a report on Thursday, July 9th. Finally, The Goldman Sachs Group dropped their target price on shares of Sunrun from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $16.81.

About Sunrun

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.