Sunrun Inc. $RUN Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 30.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 178,529 shares of the energy company’s stock after selling 78,063 shares during the quarter. New York State Teachers Retirement System’s holdings in Sunrun were worth $2,421,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Royal Bank of Canada lifted its stake in shares of Sunrun by 5.1% in the first quarter. Royal Bank of Canada now owns 626,536 shares of the energy company’s stock worth $3,672,000 after buying an additional 30,175 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in Sunrun by 47.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 32,767 shares of the energy company’s stock valued at $192,000 after acquiring an additional 10,598 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Sunrun by 2.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 238,360 shares of the energy company’s stock valued at $1,397,000 after acquiring an additional 5,882 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Sunrun by 511.0% in the 1st quarter. Jones Financial Companies Lllp now owns 27,026 shares of the energy company’s stock valued at $158,000 after acquiring an additional 22,603 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Sunrun by 45.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company’s stock valued at $13,518,000 after acquiring an additional 718,955 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Sunrun Price Performance

Sunrun stock opened at $12.47 on Friday. The company’s 50 day simple moving average is $13.66 and its 200-day simple moving average is $15.26. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.09 and a current ratio of 1.45. Sunrun Inc. has a 1 year low of $9.01 and a 1 year high of $22.44. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 5.85 and a beta of 2.32.

Sunrun (NASDAQ:RUN) last posted its earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.67. The firm had revenue of $722.23 million during the quarter, compared to the consensus estimate of $688.50 million. Sunrun had a net margin of 17.88% and a return on equity of 14.06%. The firm’s revenue for the quarter was up 43.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 EPS. As a group, equities research analysts expect that Sunrun Inc. will post 1.09 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RUN. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $17.00 target price on shares of Sunrun in a report on Friday, May 8th. Citigroup lowered their price objective on Sunrun from $26.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Zacks Research cut Sunrun from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. UBS Group cut their target price on Sunrun from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Finally, Weiss Ratings upgraded Sunrun from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. Twelve analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sunrun presently has an average rating of “Hold” and an average price target of $18.81.

Key Stories Impacting Sunrun

Here are the key news stories impacting Sunrun this week:

• Positive Sentiment: Sunrun launched a distributed AI data center pilot that could let homeowners’ solar and battery systems support edge computing, creating a new business line beyond its core residential solar model. Article Title
• Positive Sentiment: Trading activity showed unusually heavy call option buying, suggesting some investors are betting the AI-related announcement could drive more upside in RUN. Article Title
• Positive Sentiment: Susquehanna trimmed its price target to $18 from $19 but kept a positive rating, which still implies meaningful upside from current levels. Article Title
• Neutral Sentiment: Media coverage around the AI data-center pilot has kept Sunrun in the spotlight, but some reports noted the news has not yet translated into a full stock re-rating. Article Title
• Negative Sentiment: Chief accounting officer Maria Barak sold 3,278 shares in a pre-arranged 10b5-1 transaction, adding to recent insider selling that may weigh on sentiment. Article Title
• Negative Sentiment: Glj Research reaffirmed a sell rating and set a $4.63 target, a sharply bearish call that signals substantial downside risk in the eyes of that firm. Article Title

Insider Buying and Selling at Sunrun

In other news, CRO Paul S. Dickson sold 15,613 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $13.18, for a total transaction of $205,779.34. Following the completion of the transaction, the executive directly owned 839,539 shares in the company, valued at $11,065,124.02. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction on Monday, June 1st. The shares were sold at an average price of $15.92, for a total value of $796,000.00. Following the completion of the sale, the director directly owned 459,091 shares of the company’s stock, valued at $7,308,728.72. The trade was a 9.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 223,045 shares of company stock valued at $3,081,335. Corporate insiders own 3.55% of the company’s stock.

Sunrun Company Profile

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.