Penserra Capital Management LLC Buys 11,973 Shares of Sunrun Inc. $RUN

Penserra Capital Management LLC increased its position in shares of Sunrun Inc. (NASDAQ:RUN) by 263.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,514 shares of the energy company’s stock after purchasing an additional 11,973 shares during the quarter. Penserra Capital Management LLC’s holdings in Sunrun were worth $135,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sylebra Capital LLC lifted its holdings in Sunrun by 23.8% during the first quarter. Sylebra Capital LLC now owns 8,273,331 shares of the energy company’s stock worth $48,482,000 after acquiring an additional 1,590,169 shares during the period. PGGM Investments increased its position in shares of Sunrun by 316.6% during the 2nd quarter. PGGM Investments now owns 7,007,258 shares of the energy company’s stock valued at $57,319,000 after purchasing an additional 5,325,332 shares during the last quarter. Erste Asset Management GmbH raised its stake in shares of Sunrun by 5.5% during the 1st quarter. Erste Asset Management GmbH now owns 5,053,237 shares of the energy company’s stock worth $30,044,000 after purchasing an additional 264,024 shares during the period. Amundi boosted its holdings in shares of Sunrun by 12.1% in the 1st quarter. Amundi now owns 3,479,021 shares of the energy company’s stock worth $20,686,000 after buying an additional 374,594 shares during the last quarter. Finally, Northern Trust Corp grew its position in Sunrun by 17.5% during the first quarter. Northern Trust Corp now owns 2,764,452 shares of the energy company’s stock valued at $16,200,000 after buying an additional 410,800 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insiders Place Their Bets

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $20.41, for a total transaction of $1,020,500.00. Following the completion of the transaction, the director owned 800,482 shares in the company, valued at $16,337,837.62. This represents a 5.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeanna Steele sold 4,475 shares of Sunrun stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $21.71, for a total transaction of $97,152.25. Following the transaction, the insider directly owned 361,789 shares of the company’s stock, valued at approximately $7,854,439.19. This trade represents a 1.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 306,029 shares of company stock worth $5,829,345. Insiders own 3.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on RUN shares. BMO Capital Markets set a $19.00 target price on shares of Sunrun and gave the company a “market perform” rating in a research report on Wednesday, October 15th. TD Cowen increased their price objective on Sunrun from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, November 7th. Cowen restated a “buy” rating on shares of Sunrun in a research note on Thursday, August 7th. Zacks Research cut Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Finally, JPMorgan Chase & Co. lifted their price objective on Sunrun from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.16.

Sunrun Trading Down 2.9%

Shares of RUN stock opened at $18.87 on Friday. The business has a 50-day moving average price of $18.66 and a two-hundred day moving average price of $13.17. Sunrun Inc. has a 12-month low of $5.38 and a 12-month high of $22.44. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 3.70. The firm has a market cap of $4.38 billion, a P/E ratio of -1.63 and a beta of 2.35.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Thursday, November 6th. The energy company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The firm had revenue of $724.56 million during the quarter, compared to analyst estimates of $601.15 million. During the same period in the previous year, the business posted ($0.37) EPS. The business’s quarterly revenue was up 34.9% on a year-over-year basis. Equities analysts anticipate that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

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.