State of Alaska Department of Revenue raised its position in Sunrun Inc. (NASDAQ:RUN – Get Rating) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,151 shares of the energy company's stock after purchasing an additional 1,020 shares during the quarter. State of Alaska Department of Revenue's holdings in Sunrun were worth $704,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in RUN. State Street Corp increased its stake in shares of Sunrun by 3.8% in the fourth quarter. State Street Corp now owns 6,644,379 shares of the energy company's stock valued at $227,902,000 after buying an additional 244,354 shares during the period. Cushing Asset Management LP lifted its position in shares of Sunrun by 4.6% during the 4th quarter. Cushing Asset Management LP now owns 262,103 shares of the energy company's stock valued at $8,990,000 after acquiring an additional 11,477 shares during the period. CIBC World Markets Inc. boosted its stake in Sunrun by 42.7% during the fourth quarter. CIBC World Markets Inc. now owns 24,171 shares of the energy company's stock worth $829,000 after acquiring an additional 7,229 shares in the last quarter. Mirova grew its holdings in Sunrun by 7.0% in the fourth quarter. Mirova now owns 1,789,834 shares of the energy company's stock worth $61,391,000 after purchasing an additional 116,314 shares during the period. Finally, Marshall Wace LLP grew its stake in Sunrun by 2,776.2% in the fourth quarter. Marshall Wace LLP now owns 983,057 shares of the energy company's stock valued at $33,719,000 after acquiring an additional 948,878 shares during the period. 90.85% of the stock is currently owned by institutional investors.
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Sunrun Price Performance
RUN stock opened at $27.59 on Friday. The firm has a 50 day moving average of $32.98 and a 200-day moving average of $27.90. The company has a current ratio of 1.73, a quick ratio of 1.17 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $5.85 billion, a P/E ratio of -49.27 and a beta of 2.26. Sunrun Inc. has a 12 month low of $16.80 and a 12 month high of $60.60.
Sunrun (NASDAQ:RUN – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The energy company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.20) by $0.14. The firm had revenue of $584.58 million during the quarter, compared to analyst estimates of $485.04 million. Sunrun had a negative net
margin of 5.86% and a negative return on equity of 1.39%. As a group, sell-side analysts predict that Sunrun Inc. will post -0.72 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Sunrun news, insider Lynn Michelle Jurich sold 75,000 shares of the firm's stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $37.63, for a total value of $2,822,250.00. Following the sale, the insider now owns 1,458,116 shares of the company's stock, valued at approximately $54,868,905.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Edward Harris Fenster sold 6,172 shares of the stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $34.27, for a total transaction of $211,514.44. Following the transaction, the insider now directly owns 1,578,012 shares in the company, valued at approximately $54,078,471.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lynn Michelle Jurich sold 75,000 shares of the business's stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $37.63, for a total value of $2,822,250.00. Following the completion of the sale, the insider now owns 1,458,116 shares of the company's stock, valued at approximately $54,868,905.08. The disclosure for this sale can be found here. Insiders sold a total of 368,323 shares of company stock worth $12,563,631 over the last ninety days. 4.29% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several research firms have recently commented on RUN. Northland Securities assumed coverage on shares of Sunrun in a research report on Wednesday. They set an "outperform" rating and a $60.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on shares of Sunrun from $52.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, August 8th. Barclays started coverage on shares of Sunrun in a research report on Friday, August 5th. They issued an "overweight" rating and a $46.00 price objective for the company. Morgan Stanley boosted their price objective on Sunrun from $70.00 to $79.00 and gave the stock an "overweight" rating in a research report on Thursday, August 18th. Finally, Piper Sandler raised their price objective on shares of Sunrun from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, August 4th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $49.19.
Sunrun Profile
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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.
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