90,925 Shares in Sunrun Inc. $RUN Bought by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new stake in Sunrun Inc. (NASDAQ:RUN) during the 2nd quarter, Holdings Channel reports. The fund acquired 90,925 shares of the energy company’s stock, valued at approximately $1,225,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RUN. Dimensional Fund Advisors LP raised its stake in Sunrun by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company’s stock worth $88,375,000 after acquiring an additional 165,196 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Sunrun by 26.6% in the 4th quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock valued at $107,975,000 after purchasing an additional 1,231,628 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Sunrun by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company’s stock valued at $104,220,000 after purchasing an additional 205,627 shares during the last quarter. Contour Asset Management LLC bought a new stake in shares of Sunrun during the 4th quarter valued at approximately $98,010,000. Finally, Voloridge Investment Management LLC grew its holdings in shares of Sunrun by 47.3% during the 4th quarter. Voloridge Investment Management LLC now owns 3,425,297 shares of the energy company’s stock valued at $63,025,000 after purchasing an additional 1,100,666 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Sunrun Stock Down 2.5%

Shares of NASDAQ:RUN opened at $8.56 on Tuesday. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 5.78 and a beta of 2.36. The company has a quick ratio of 1.00, a current ratio of 1.42 and a debt-to-equity ratio of 3.34. Sunrun Inc. has a 12-month low of $8.49 and a 12-month high of $22.44. The business’s 50 day moving average is $10.98 and its 200 day moving average is $12.97.

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

Insider Activity

In related news, CFO Danny Abajian sold 16,495 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $13.19, for a total transaction of $217,569.05. Following the sale, the chief financial officer directly owned 420,318 shares in the company, valued at approximately $5,543,994.42. This represents a 3.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 firm’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 transaction of $498,000.00. Following the completion of the transaction, the director directly owned 367,405 shares of the company’s stock, valued at approximately $3,659,353.80. This trade represents a 11.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 173,045 shares of company stock worth $2,138,835. 3.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RUN has been the subject of several research reports. Mizuho set a $18.00 price objective on shares of Sunrun in a research note on Thursday, August 6th. UBS Group decreased their target price 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 lowered their price target on shares of Sunrun from $21.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Glj Research reiterated a “sell” rating and issued a $4.63 price target on shares of Sunrun in a research note on Monday, August 17th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $17.00 price objective on shares of Sunrun in a report on Friday, May 8th. Twelve investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.