Franklin Resources Inc. Acquires Shares of 49,592 Sunrun Inc. (NASDAQ:RUN)

Franklin Resources Inc. bought a new position in Sunrun Inc. (NASDAQ:RUN) in the 3rd quarter, Holdings Channel.com reports. The fund bought 49,592 shares of the energy company’s stock, valued at approximately $896,000.

Several other large investors have also modified their holdings of RUN. International Assets Investment Management LLC lifted its position in shares of Sunrun by 1,706.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after buying an additional 1,638 shares during the last quarter. Blue Trust Inc. grew its position in shares of Sunrun by 385.5% during the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after buying an additional 1,465 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Sunrun during the third quarter worth about $44,000. Redwood Wealth Management Group LLC bought a new position in shares of Sunrun during the second quarter valued at approximately $56,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Sunrun during the second quarter valued at $104,000. Institutional investors own 91.69% of the company’s stock.

Insider Buying and Selling

In other news, CFO Danny Abajian sold 4,869 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $16.35, for a total value of $79,608.15. Following the completion of the sale, the chief financial officer now directly owns 269,393 shares in the company, valued at approximately $4,404,575.55. The trade was a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeanna Steele sold 2,624 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $16.35, for a total transaction of $42,902.40. Following the sale, the insider now owns 305,636 shares of the company’s stock, valued at $4,997,148.60. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 169,691 shares of company stock worth $2,011,601. Corporate insiders own 3.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RUN. Oppenheimer reduced their price objective on Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. The Goldman Sachs Group lowered their price objective on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. StockNews.com upgraded shares of Sunrun to a “sell” rating in a research report on Friday, December 20th. Susquehanna lowered their price objective on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a research note on Wednesday, October 16th. Finally, TD Cowen assumed coverage on Sunrun in a report on Thursday, December 19th. They issued a “buy” rating and a $21.00 price target on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Sunrun presently has a consensus rating of “Hold” and a consensus price target of $19.21.

Sunrun Stock Down 2.1 %

RUN stock opened at $9.86 on Monday. The company has a 50 day moving average of $11.47 and a two-hundred day moving average of $14.95. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. Sunrun Inc. has a 12-month low of $9.01 and a 12-month high of $22.26. The company has a market cap of $2.21 billion, a price-to-earnings ratio of -5.42 and a beta of 2.54.

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.