Wealthspire Advisors LLC Makes New $98,000 Investment in Sunrun Inc. $RUN

Wealthspire Advisors LLC purchased a new position in shares of Sunrun Inc. (NASDAQ:RUN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,032 shares of the energy company’s stock, valued at approximately $98,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RUN. PGGM Investments boosted its holdings in shares of Sunrun by 316.6% during the second quarter. PGGM Investments now owns 7,007,258 shares of the energy company’s stock valued at $57,319,000 after acquiring an additional 5,325,332 shares during the period. Public Sector Pension Investment Board lifted its position in Sunrun by 27.1% in the 1st quarter. Public Sector Pension Investment Board now owns 711,391 shares of the energy company’s stock valued at $4,169,000 after purchasing an additional 151,474 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its position in Sunrun by 25.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,500,000 shares of the energy company’s stock valued at $14,650,000 after purchasing an additional 500,000 shares during the last quarter. Townsquare Capital LLC boosted its stake in Sunrun by 11.3% during the 1st quarter. Townsquare Capital LLC now owns 279,733 shares of the energy company’s stock valued at $1,639,000 after purchasing an additional 28,395 shares during the period. Finally, Quantitative Investment Management LLC grew its position in Sunrun by 169.5% in the 1st quarter. Quantitative Investment Management LLC now owns 571,479 shares of the energy company’s stock worth $3,348,000 after purchasing an additional 359,463 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RUN. JPMorgan Chase & Co. increased 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. Deutsche Bank Aktiengesellschaft increased their price target on Sunrun from $11.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, October 1st. The Goldman Sachs Group lifted their price objective on shares of Sunrun from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Morgan Stanley set a $20.00 price objective on shares of Sunrun in a report on Thursday, October 16th. Finally, BMO Capital Markets set a $19.00 target price on shares of Sunrun and gave the company a “market perform” rating in a research note on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Sunrun currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.54.

Insider Transactions at Sunrun

In other news, CFO Danny Abajian sold 9,055 shares of Sunrun stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $19.35, for a total value of $175,214.25. Following the transaction, the chief financial officer directly owned 424,606 shares of the company’s stock, valued at $8,216,126.10. This trade represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeanna Steele sold 21,037 shares of the business’s stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $20.25, for a total transaction of $425,999.25. Following the sale, the insider owned 366,264 shares in the company, valued at $7,416,846. This represents a 5.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 288,612 shares of company stock worth $5,546,319 in the last three months. Insiders own 3.37% of the company’s stock.

Sunrun Stock Performance

Shares of RUN opened at $17.93 on Monday. The company has a debt-to-equity ratio of 3.70, a current ratio of 1.41 and a quick ratio of 1.02. The firm’s 50 day moving average is $18.90 and its 200-day moving average is $13.73. Sunrun Inc. has a 12-month low of $5.38 and a 12-month high of $22.44. The stock has a market capitalization of $4.16 billion, a P/E ratio of -1.54 and a beta of 2.35.

Sunrun (NASDAQ:RUN) last issued its earnings results 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. The firm had revenue of $724.56 million during the quarter, compared to analysts’ expectations of $601.15 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The firm’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.37) earnings per share. Equities research 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.