DekaBank Deutsche Girozentrale cut its holdings in shares of Sunrun Inc. (NASDAQ:RUN – Free Report) by 12.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 41,694 shares of the energy company’s stock after selling 5,675 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Sunrun were worth $737,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Salem Investment Counselors Inc. raised its position in Sunrun by 3,750.0% during the 1st quarter. Salem Investment Counselors Inc. now owns 1,540 shares of the energy company’s stock worth $47,000 after buying an additional 1,500 shares during the last quarter. Belpointe Asset Management LLC raised its position in Sunrun by 735.2% during the 1st quarter. Belpointe Asset Management LLC now owns 2,113 shares of the energy company’s stock worth $43,000 after buying an additional 1,860 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Sunrun by 40.0% during the 1st quarter. Exchange Traded Concepts LLC now owns 3,075 shares of the energy company’s stock valued at $62,000 after purchasing an additional 879 shares in the last quarter. C M Bidwell & Associates Ltd. increased its holdings in shares of Sunrun by 49.5% during the 1st quarter. C M Bidwell & Associates Ltd. now owns 5,049 shares of the energy company’s stock valued at $102,000 after purchasing an additional 1,672 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Sunrun by 46.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 6,321 shares of the energy company’s stock valued at $127,000 after purchasing an additional 2,017 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, CEO Mary Powell sold 1,744 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $15.79, for a total transaction of $27,537.76. Following the transaction, the chief executive officer now owns 410,900 shares of the company’s stock, valued at approximately $6,488,111. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Sunrun news, CEO Mary Powell sold 1,744 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $15.79, for a total value of $27,537.76. Following the transaction, the chief executive officer now owns 410,900 shares of the company’s stock, valued at $6,488,111. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lynn Michelle Jurich sold 1,836 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $15.15, for a total transaction of $27,815.40. Following the completion of the transaction, the director now directly owns 1,405,360 shares in the company, valued at approximately $21,291,204. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,457 shares of company stock valued at $287,987. 3.76% of the stock is currently owned by insiders.
Sunrun Trading Down 2.4 %
Sunrun (NASDAQ:RUN – Get Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The energy company reported $0.25 earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.59. The firm had revenue of $590.20 million for the quarter, compared to analysts’ expectations of $627.73 million. Sunrun had a net margin of 3.66% and a return on equity of 1.18%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) EPS. As a group, equities analysts predict that Sunrun Inc. will post -0.88 earnings per share for the current year.
Analyst Ratings Changes
Several research firms have recently weighed in on RUN. Barclays cut their target price on shares of Sunrun from $31.00 to $27.00 in a report on Thursday, July 13th. Citigroup raised shares of Sunrun from a “neutral” rating to a “buy” rating and cut their target price for the company from $25.00 to $21.00 in a report on Wednesday, August 30th. Susquehanna cut their target price on shares of Sunrun from $33.00 to $26.00 and set a “positive” rating for the company in a report on Monday, October 2nd. Janney Montgomery Scott raised shares of Sunrun from a “neutral” rating to a “buy” rating in a report on Thursday, August 3rd. Finally, Guggenheim boosted their price target on shares of Sunrun from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.11.
About Sunrun
Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.
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