Pictet Asset Management Holding SA Boosts Stake in Sunrun Inc. (NASDAQ:RUN)

Pictet Asset Management Holding SA raised its position in shares of Sunrun Inc. (NASDAQ:RUN) by 31.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,432 shares of the energy company’s stock after buying an additional 9,380 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Sunrun were worth $365,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RUN. Vanguard Group Inc. raised its position in shares of Sunrun by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 23,749,115 shares of the energy company’s stock valued at $219,679,000 after buying an additional 343,448 shares in the last quarter. State Street Corp increased its stake in Sunrun by 0.6% during the third quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock worth $165,424,000 after acquiring an additional 54,329 shares during the last quarter. Geode Capital Management LLC raised its position in Sunrun by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock valued at $96,019,000 after purchasing an additional 30,549 shares during the period. Erste Asset Management GmbH lifted its stake in shares of Sunrun by 16.3% in the 4th quarter. Erste Asset Management GmbH now owns 4,789,213 shares of the energy company’s stock valued at $47,302,000 after purchasing an additional 672,049 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Sunrun in the 4th quarter worth approximately $31,022,000. Institutional investors own 91.69% of the company’s stock.

Sunrun Stock Up 13.6 %

NASDAQ:RUN opened at $6.43 on Thursday. The company’s 50-day simple moving average is $7.28 and its 200-day simple moving average is $10.41. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. Sunrun Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $22.26. The stock has a market capitalization of $1.45 billion, a P/E ratio of -3.53 and a beta of 2.74.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Roth Capital set a $20.00 price target on Sunrun in a research report on Friday, February 28th. JPMorgan Chase & Co. dropped their price target on shares of Sunrun from $22.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. The Goldman Sachs Group reduced their price objective on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Barclays dropped their target price on Sunrun from $18.00 to $15.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Finally, UBS Group reduced their price target on Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Sunrun presently has a consensus rating of “Moderate Buy” and an average price target of $17.20.

Insider Buying and Selling at Sunrun

In other Sunrun news, CEO Mary Powell sold 31,197 shares of the firm’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $210,267.78. Following the completion of the transaction, the chief executive officer now owns 534,615 shares of the company’s stock, valued at approximately $3,603,305.10. This trade represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction on Friday, January 17th. The stock was sold at an average price of $9.59, for a total transaction of $479,500.00. Following the sale, the director now owns 991,753 shares of the company’s stock, valued at $9,510,911.27. The trade was a 4.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 188,540 shares of company stock worth $1,530,444 over the last three months. Corporate insiders own 3.77% of the company’s stock.

About Sunrun

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.