BI Asset Management Fondsmaeglerselskab A S Invests $4.97 Million in Sunrun Inc. $RUN

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Sunrun Inc. (NASDAQ:RUN) during the fourth quarter, Holdings Channel.com reports. The firm purchased 270,059 shares of the energy company’s stock, valued at approximately $4,969,000.

Several other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Sunrun in the 4th quarter worth approximately $62,169,000. Voloridge Investment Management LLC acquired a new stake in Sunrun during the 3rd quarter valued at $40,193,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Sunrun by 132.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,821,106 shares of the energy company’s stock valued at $48,777,000 after purchasing an additional 1,609,803 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Sunrun in the third quarter valued at $21,427,000. Finally, Erste Asset Management GmbH boosted its position in shares of Sunrun by 62.7% in the third quarter. Erste Asset Management GmbH now owns 3,082,234 shares of the energy company’s stock worth $54,778,000 after buying an additional 1,188,092 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Citigroup lowered their price target on Sunrun from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. JPMorgan Chase & Co. reduced their price objective on Sunrun from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, April 16th. Jefferies Financial Group lowered their target price on Sunrun from $22.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $17.00 target price on shares of Sunrun in a report on Friday, May 8th. Finally, Oppenheimer increased their price target on shares of Sunrun from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Twelve investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Sunrun presently has a consensus rating of “Hold” and an average target price of $18.48.

Sunrun Trading Down 0.1%

NASDAQ RUN opened at $13.35 on Monday. The company has a current ratio of 1.45, a quick ratio of 1.09 and a debt-to-equity ratio of 3.44. Sunrun Inc. has a 1-year low of $5.38 and a 1-year high of $22.44. The firm’s fifty day simple moving average is $13.61 and its 200-day simple moving average is $16.18. The company has a market capitalization of $3.18 billion, a PE ratio of 6.27 and a beta of 2.32.

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

Insider Buying and Selling at Sunrun

In related news, CRO Paul S. Dickson sold 127,673 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $13.25, for a total value of $1,691,667.25. Following the completion of the sale, the executive owned 707,126 shares of the company’s stock, valued at approximately $9,369,419.50. The trade was a 15.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Maria Barak sold 8,039 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $13.67, for a total value of $109,893.13. Following the completion of the transaction, the chief accounting officer owned 72,963 shares in the company, valued at $997,404.21. This represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 692,786 shares of company stock worth $9,339,291 over the last quarter. Insiders own 3.55% of the company’s stock.

About Sunrun

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.