Sunrun Inc. (NASDAQ:RUN) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its position in shares of Sunrun Inc. (NASDAQ:RUN) by 2.0% in the third quarter, Holdings Channel.com reports. The fund owned 127,564 shares of the energy company’s stock after selling 2,579 shares during the quarter. State of Alaska Department of Revenue’s holdings in Sunrun were worth $2,303,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Sylebra Capital LLC acquired a new stake in shares of Sunrun in the second quarter valued at approximately $35,387,000. Vanguard Group Inc. raised its holdings in shares of Sunrun by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock worth $294,245,000 after acquiring an additional 2,743,148 shares during the period. Greenvale Capital LLP grew its holdings in shares of Sunrun by 20.5% in the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock valued at $139,355,000 after purchasing an additional 2,000,000 shares during the period. Senator Investment Group LP acquired a new stake in Sunrun during the second quarter worth about $11,860,000. Finally, Assenagon Asset Management S.A. raised its stake in Sunrun by 207.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,375,584 shares of the energy company’s stock worth $24,843,000 after purchasing an additional 927,947 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Morgan Stanley restated an “overweight” rating and issued a $35.00 target price on shares of Sunrun in a research report on Tuesday, September 24th. Susquehanna dropped their price target on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a research report on Wednesday, October 16th. Barclays decreased their price objective on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. StockNews.com raised Sunrun to a “sell” rating in a research report on Friday, September 27th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Sunrun in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $22.79.

Sunrun Trading Up 2.1 %

NASDAQ RUN opened at $14.76 on Friday. The company has a market cap of $3.30 billion, a P/E ratio of -2.32 and a beta of 2.58. Sunrun Inc. has a 12 month low of $8.82 and a 12 month high of $22.26. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31. The company has a 50-day moving average of $17.33 and a 200-day moving average of $15.29.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, topping the consensus estimate of ($0.33) by $0.88. The firm had revenue of $523.87 million during the quarter, compared to analyst estimates of $516.76 million. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. Sunrun’s revenue for the quarter was down 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 earnings per share. As a group, equities analysts predict that Sunrun Inc. will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $14.60, for a total value of $730,000.00. Following the transaction, the director now directly owns 1,142,446 shares of the company’s stock, valued at $16,679,711.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $14.60, for a total value of $730,000.00. Following the completion of the sale, the director now owns 1,142,446 shares of the company’s stock, valued at $16,679,711.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Danny Abajian sold 2,141 shares of Sunrun stock in a transaction on Friday, September 6th. The shares were sold at an average price of $18.23, for a total transaction of $39,030.43. Following the transaction, the chief financial officer now owns 276,119 shares in the company, valued at $5,033,649.37. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,001 shares of company stock valued at $3,220,345. 3.77% of the stock is currently owned by company insiders.

Sunrun Company Profile

Sunrun Inc designs, develops, installs, sells, owns, and maintains 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.